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preforeclosure: BEWARE: the DANGERS of foreclosure, preforeclosure, REO websites - 07/16/07 05:53 PM
This post is actually a modified comment that I made on David Britt’s blog, http://activerain.com/blogs/dbritt.
You must read David’s blog post!
David’s post and Fred’s comment on the post addresses an important and disenchanting issue in the realm of pre-foreclosures, foreclosures, and REO property.
David’s post should be read by anyone considering becoming a member to any one of the many guru-esque foreclosure websites.
It is true, preforeclosures, foreclosures, and bank owned, is all the buzz right now and the consumer must exercise caution when putting down their credit card information.
I was regional director for www.jerseypreforeclosures.com and … (7 comments)

preforeclosure: Practical marketing suggestions: the local preforeclosure market - 07/10/07 10:54 PM
In short, my main suggestion is to print out a map from Google of where you live and draw a 1 square mile box around it, this box will represent your farm territory.  Get to know this 1 square mile like the back of your hand and make sure this 1 square mile knows you. Research it from top to bottom. Build rapport with everyone!
Long drawn out...if you have the time version:
General contacts: Talk to everyone about what you do including the US postal workers, crossing guards, UPS/FEDEX guys as these people seem to know everything going on locally. Right now … (5 comments)

preforeclosure: Thinking about working the preforeclosure market as a Licensed Real Estate Agent? - 07/10/07 09:48 PM
Since I began posting on activerain I have become quite busy with emails, and calls about the preforeclosure market. Its clear that licensed agents want to gain knowledge on the subject from a practical source not from a philosophical point of view. This is great for me because it means that the buzz must be out there that the preforeclosure market is “the next best thing” in real estate. While I am thankful to the activerain network and its members for the increased business I am very surprised to find out about all the inaccurate and downright false information there is … (3 comments)

preforeclosure: What is a preforeclosure sale? - 06/04/07 10:57 PM
Real estate investor glossary of terms:
Preforeclosure sale: Buying a property in preforeclosure involves approaching the borrower or homeowner and offering to buy the property outright. The borrower/owner can walk away with the equity in the property and avoid a foreclosure or sometimes a “charge back” on his/her credit report. The buyer has time to research the title and condition of the property. Often times a buyer can purchase a home in preforeclosure for at least 15-20% below market value, conservatively. In rare cases buyers can realize discounts of 40-50% below market value.
In many cases, homes in preforeclosure are left … (6 comments)

preforeclosure: Lis Penden defined - 06/04/07 10:30 PM
My next few posts will be entries to a glossary of useful real estate investor terms. Please feel free to add terms, comment on definitions, and/or give examples. As always I welcome constructive feedback.
Lis penden:
(1) Latin for "a suit pending." The term may refer to ANY pending lawsuit. (2) A written notice that a lawsuit has been filed concerning real estate, involving either the title to the property or a claimed ownership interest in it. The notice is usually filed in the county land records office.
    This is interesting because not all lis pendens are relevant to preforeclosure … (10 comments)

 
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