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THE TOP 5 MYTHS AND TIPS for getting a deal on a PRE-FORECLOSURE

By Scott Godzyk

Real Estate Broker/Owner with Godzyk Real Estate Services NH License 033394

January 07, 2011 12:34 AM

PRE FORECLOSURES ARE SIMPLY THAT, A HOUSE ENTERING INTO THE FORECLOSURE PROCESS... The home owner is usually gets to the 60 day late window and the process starts.

THE TOP 5 MYTHS AND TIPS "getting a deal on a pre-foreclosure".

1. Most houses in pre-foreclsoure are not even on the market for sale

2. Most home owners in pre-foreclosure owe more than the house is worth in todays market.

3. If they are in foreclosure and a foreclsoure date has been set, there is not enough time for them to complete a short sale.

4. Most home owners in foreclosure are not going to invest their time, what resources they have left or their emotions for someone else to get a deal on their home they are losing.

5. The Reality is working pre-foreclosures is a long and stressful task, you need to have a strong will where emotion does not affect you and upset homeowners words will not affect you. If this isnt you, then preforeclosures may not be for you either.

If you are in foreclsoure or are late on your payments:

Do not wait or hesitate, if you have any ability to make payments you should be calling your bank, ask for the home retention department and ask for help, they are not collectors.

If you have no ability to pay, then a short sale may be for you. If you are in New Hampshire please feel free to contact me to see how i can sell your home at no additional cost to you, some banks even offer relocation money to the home owner.

IF YOU ARE A BUYER - Where are the deals?

The best deals are after the foreclosure auction, the properties have already gone through foreclosure, the bank has cleared the title, the occupant will have moved out and the property cleaned. The bank will be selling it at or below market value.

PLEASE SEE MY BLOG FOR ADVICE AND TIPS FOR BUYING A BANK OWNED HOME

http://www.trulia.com/blog/scott_godzyk/2008/08/so_you_want_to_buy_a_for

PLEASE POST YOUR COMMENTS, STORIES OR INTERACTIONS WITH PRE FORECLOSED HOMES AND OR THEIR OWNERS!!!

Updated 1/7/2011