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  1. #1
    Join Date
    Nov 2006
    Posts
    2

    Question Buying Foreclosures for Investment Purposes

    Hello Everyone! Im a newbie to this site/group and I am trying to get some information or get pointed in the right direction. I have been looking at the foreclosure listings in my area (New Jersey). I spotted some decent looking homes in my area with Judgements way below the houses worth.
    Here are some questions I have. If someone could please pass on any knowledge to the subject I would really appreciate it!!
    1.)Why don't the homeowners sell before it goes to foreclosure?
    2.)Can I go to the homebuyer whose house is going to Auction Sale and offer them a way out by giving them an offer above the judgment?
    3.) Is there an easier way to find Leins on a property rather than paying a Title Search company (or is that the safest way?).
    4.) Is there a Law book you could recommend or sites to really dig deeper into the unforeseens with buying foreclosures?

    I really appreciate your time in this indepth thread! Thanks again! Johnny

  2. #2
    Join Date
    Jul 2006
    Posts
    5,438

    Default Re: Buying Foreclosures for Investment Purposes

    1.)Why don't the homeowners sell before it goes to foreclosure?

    A: Ask the homeowners.


    2.)Can I go to the homebuyer whose house is going to Auction Sale and offer them a way out by giving them an offer above the judgment?

    A: Yes.


    3.) Is there an easier way to find Leins on a property rather than paying a Title Search company (or is that the safest way?).

    A: Do it yourself if you know how to search real estate records.


    4.) Is there a Law book you could recommend or sites to really dig deeper into the unforeseens with buying foreclosures?

    A: If you buy foreclosed property, you need tons of money, nerves of steel, a stomach of iron, a title report, and a survey. And, of course, a realization you are playing with fire.

  3. #3
    Join Date
    Nov 2006
    Posts
    2

    Cool Re: Buying Foreclosures for Investment Purposes

    Thanks for the info Judge! A little short on the responses, but straight to the point!

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