Foreclosure Studies - The five most important things to consider when studying foreclosures

Foreclosure research is one of the most critical steps in investing in real estate foreclosures. It is usually the most overlooked step. Not all foreclosed homes are worth pursuing. So foreclosure research is the basic tool for removing good deals from bad things, just like finding "rough diamonds." knowledge from

how about it from

 Conducting this research and from

What to look for from

 It is the difference between a successful real estate investor and an unsuccessful real estate investor.

The foreclosure study involves:

1. Identify foreclosure wires
2. Collect all information about foreclosure property
3. Analyze data to assess whether to pursue or abandon this lead

Foreclosures are usually handled by the county governments of each state, and each state has its own foreclosure law. But the general law is the same throughout the country. What information do you need to collect for the foreclosure study?

1. The foreclosure notice is posted in the Legal Notices section of the local newspaper, or in the form of a county government office that handles foreclosures, which may be a list or may be a notice on the bulletin board. In some states, the bank filed a lawsuit against the homeowner, so the lawsuit was called a court lawsuit. from
   
   Lis pendens from
   
    Submitted and provided in the government court case file.
2. Normally, basic information about the mortgaged property, such as the property address, the name of the homeowner, the total amount payable, and the date of the foreclosure auction, can be obtained in a court case. If the loan is not currently purchased or paid in full before the end from
   
   Redemption period from
   
    The homeowner must compensate for the grace period for the mortgage default.
3. More detailed information about the property is available at the County Records Office. All information about each piece of land is maintained by the office: all property transfers and sales amounts, all mortgage amounts for all properties, property taxes owed, liens or judgments against homeowners or property.
4. The home must be evaluated to determine the actual value of the home. This can be done by viewing the tax records, using various tools that generate free gifts online, or viewing recent sales transactions for similar homes in the same area that are typically public records.
5. Equally important is the physical driving through the problematic house to visually ensure that it is worth investing. How is the neighbor? Is investment a good community? How is the condition of the house? Is it empty? Need repair?

All of the above information can be obtained free of charge through the county court and record the branches of each county in the country. However, if you are an individual who wants to invest in real estate while maintaining normal day-to-day work, going to the government office will be very difficult because it is only open Monday through Friday during business hours. You will not be able to complete any research. [Or if you are an experienced real estate investor, you will not be able to process existing transactions because you will be forced to work in the government office.]

Therefore, in order to solve this problem, thousands of counties across the country have electronically provided their court files and recorder office records on the Internet, or through computer database data sources. And this information is combined for public use. Therefore, you can freely conduct foreclosure studies from your own office or your own home via the Internet, 24 hours a week, seven days a week.

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