How to Buy Pre-Foreclosed Homes with Little to no Money Down!
We will show you how to buy a House with only 3.5% down and it will have instant equity the day you close escrow. Pre-Foreclosed homes can be
purchased are an excellent opportunity for 1st time buyers to own
a home of their own. Finding properties
facing foreclosure is simple and absolutely free and is
something anyone can do themselves. Whether
you are looking to purchase your first home or are a
tradition home buyer, learning how the Pre-Foreclsoure and
Foreclosure process works can save you substantially on your
next home purchase.
What is a Pre-Foreclosure
A Pre-Foreclosure is a property that is in default but
has not yet been foreclosed on by the bank or other acting
creditor. Finding properties that are in Pre-Foreclosure
allows the potential home buyer the opportunity of purchasing
the property before it is foreclosed and sold at a public
auction where competing bidders can substantially increase
the ultimate selling price of a given property.
Almost anyone can buy a Pre-Foreclosured home with a 3.5%
down-payment. Certain restrictions do apply and I highly encourage you talk to a lender or licensed Mortgage broker. Feel free to contact me if you would like a referral to one.
Individuals and families looking to purchase a
Pre-Foreclosed home are given priority over private investors
who plan to acquire the same property for investment purposes
as a result of loan covenants built into FHA, VA and other
government insured loans, which now comprise the majority of
all home loans. Whereas foreclosed
homes sold at auction are open to
the entire investing public and
typically sell for more than the
same house acquired in Pre-Foreclosure.
Additionally, buyers of foreclosed homes
at auction have to be pre-approved by lenders or have the
necessary cash on hand to even place a bid on a foreclosed
home, let alone actually purchase the property at auction. Buying a pre-foreclosed home in the short sale process can take some time. But in the end the reward will be all worth it.
