Friday, April 29, 2005

Who can buy VA (Veterans Administration) Homes?

Actually, anyone can, even non veterans. This holds true for loans as well, as the VA offers loans to qualified buyers. All other homes for sale are open to the anyone. Veterans should have their VA home loan mortgage fully pre-approved prior to their home search. It is necessary to seek out a realtor that is familiar with VA homes. Next time we will discuss other properties available through Uncle Sam including other government foreclosures.

Wednesday, April 27, 2005

Conclusion of real estate property status

If the real estate property has not compeltely undergone foreclosure yet, try to contact the actual homeowners after you exhaust all your research on the property and figure out if there may be a deal in store for you.

If you are in a mortgage document state you have usually about up to 9 months to complete the foreclosure process, but be wary of obstacles along the way. The legal process will be at work here and as you may know by now pretty much all judifical processes are very slow.

Next time, a primer on VA Foreclosures.

Monday, April 25, 2005

Part III of real estate property status

If the real estate property is foreclosed, you should find what a lis pendens notice if you are in a mortgage document state. For Deed of Trust states there will be different names, however the staff should know what you are talking about either way. Once you find the notice then make a record of the file number and name. With that, you will then go to the county clerks office and ask to see the file. This tells you what is owed on the property, and a plethora of other information that you should look at.

Next time we shall wrap up on primer on how to find information from your local courthouse on a particular piece of real estate. In the mean time be sure to check out other sources of deals, including foreclosures bank owned for leads.


Saturday, April 23, 2005

HUD Foreclosures; affordable housing

There is a large amount of foreclosure homes that you can access through HUD. These homes although targetted for home buyers, is also available to investors after a time period has passed from which buyers have first priority. Whatever is left over is available to investors.

An important idea to be aware of is that the homes are sold on an "as is" basis with no warranty. However despite this fact, HUD foreclosures can be an economic windfall to the buyer/investor who has done their homework.

Friday, April 22, 2005

Part II of finding the status of a particular real estate property

The next thing you should do is go to the Recorder of Deeds office or the equivalent as the name may be something different for your location. Ask about using computer programs. When you sit down and use their computer program you can identify information on the property based on the address you recorded from early on and the PIN number as well as the home owners name. Be sure to read the instructions or ask a staff member for tips and features.

Learn about the Lis Pendens and ways to find free foreclosure listings in our next update.

Thursday, April 21, 2005

How to find out the status of a piece of real estate

If you notice a home that seems to be abandoned for a while and no one has bought it, there are ways you can find out who owns the property and whether it is up for auction.

With the address of the property in question in hand you would proceed to the local county courthouse and seek out the following:

Tax Assessors office
Recorder of Deeds office
County Clerks office
Mapping and Platting possibly

The following is a typical scenario although it may differ from location to location. First thin you do is go to the tax assessors office and ask someone on staff to help you find taxes on the property address. For good measure just get the last 4 years of taxes on the property. Most likely they will have tax bills separated by what is called a pin number or parcel number. Be sure to write down this number and also make sure you write down the home owners name.

Next time we will discuss where to go with this number and to also find out the property's real estate foreclosure status.






Wednesday, April 20, 2005

A Primer on Real Estate Foreclosures - How Does One Start?

If you are new to the real estate foreclosure game and feel intimidated (and rightfully so) due to the mounting and increasing sophistication of your competitors, check out 5 tips on buying foreclosures from the pros to begin your personal quest to become much better centered and prepared to launch your own campaign of conquering real estate deals left and right.

Stick around and bookmark this site as I share more information as I find them. Please feel free teo submit your own articles, comments, and feedback as I am continually trying to improve the quality of this resource for all my visitors whether you are a buyer, investor, or realtor. Thank you.

Until Next Time,
REI Foreclosure Guy