Real estate blog entries tagged with sale by Tony Hodge

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Home : Blogs : Tony Hodge : Investors & Licensed Agents: Understanding the preforeclosure market : Tag "sale"

sale: 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)

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Tony Hodge

Piscataway, NJ

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