Buying Foreclosures for Investment Purposes

[JohnnyV]

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

[seniorjudge]

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.

[JohnnyV]

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