Friday, August 2, 2013
Buying Foreclosed Real Estate with no Money Down
Properties that have been foreclosed are often a gold mine for any experienced or novice investor in real estate. Typically, properties that have been foreclosed are sold by the bank or financial institution for a price well under the current market value. This means that anyone that can purchase and repair the property can earn huge profits when they resell it.
Most individuals avoid looking at foreclosure properties because they believe they need impeccable credit and huge amounts of investment capital. However, there are effective ways that any investor in real estate can purchase foreclosed properties with virtually no credit and no money down.
Finding the Properties
Properties that are distressed in the community are those that are about to go through foreclosure sale. Any notice of a foreclosure sale will be posted on a board in the County Clerkís office, in the county with a distressed property is located. This is because it is a public record that a foreclosure sale is about to take place.
Typically, the best time to locate the new list of foreclosure sales is the first Tuesday of the month. This is the time when the last huge batch of properties that were foreclosed had been sold at auction, typically on the steps of the County Courthouse, or at the Sheriffís office. It is then that a new list of any upcoming foreclosure sales will be clearly posted.
Contacting the Financial Lender
On the list of foreclosures will be another list of lenders that are owed monies on the property, and have called for the property to be foreclosed. Make direct contact with the financial lender and offer a proposal to assume the loan on the property without the need to qualify. The loan assumption without the need to qualify simply means that you will be willing to take over any current and future mortgage payments for the lending institution.
However, your proposal to assume the debt requires that the bank not qualify you based on any credit check. Typically, small lending institutions will agree to this format if you have the ability to prove that you have a minimum of three months reserve payments.
Contact the Property Owners
Before the foreclosure sale begins, make direct contact with the owners of the distressed property. Typically this can be done by simply visiting the home. Speak to the owners directly about assuming the loan from the lending institution. Explain that once the payments have been wiped out, the property will be transferred to you instead of sold at auction, allowing them to avoid the foreclosure. This will help them avoid any damage to their credit history.
Write up an agreement to make a purchase for the loan assumption. Once the assumption is approved by the lender, you can then move to escrow, and close on your new property. Once the entire process has been completed, you will receive the keys to your new home, and the lending institution will have transferred the title or deed of the property directly into your name.
Saturday, June 8, 2013
Vero Beach Orchid Island Real Estate
Orchid Island Golf & Beach Club is a private club community (over 600 acres) reflecting tropical elegance.
It is located between the Ocean and the scenic Indian River. It features a championship 18-hole golf course designed by Arnold Palmer, a charming tennis center, Town Square Shops, and an elegant Beach Club including terrace bar & lounge, dining room and oceanside pool. Oceanfront homes from $8,000,000. Golf course homes from $1,000,000 and oceanfront condominiums from $1,300,000
Courtesy of
J. Vance Brinkerhoff
REALTOR®
Coldwell Banker
Ed Schlitt
1950US Hwy#1
Vero Beach Fl-32960
Cell:772-913-3426
Business:
772-388-6320
Toll Free 888-437-7923
Fax:772-778-9257
E-mail
www.grandharboragent.com
REALTOR®
Coldwell Banker
Ed Schlitt
1950US Hwy#1
Vero Beach Fl-32960
Cell:772-913-3426
Business:
772-388-6320
Toll Free 888-437-7923
Fax:772-778-9257
www.grandharboragent.com
Courtesy of
Vero Beach Indian River Shores Homes for sale
Tuesday, April 16, 2013
OCEANFRONT-GRAND ISLE CONDO HUTCHINSON ISLAND
See details on http://www.floridaoceanfrontliving.com/ 4br 3.5ba garage call Sergei Goukasov 772-216-7126 or Belinda Boyd 772-216-7156.
Home on 10+acres fort pierce florida
See details on http://www.floridaoceanfrontliving.com/ 2br 2ba garage call Sergei Goukasov 772-216-7126 or Belinda Boyd 772-216-7156.
Vero Beach Florida - Homes For Sale 18
If you are interested in this property or would like to see more properties in the Vero Beach Treasure Coast area, call me, Vance Brinkerhoff, at 772-913-342...
21 Vero Beach Homes For Sale ReelTour Videos
If you are interested in this property or would like to see more properties in the Vero Beach Treasure Coast area, call me, Vance Brinkerhoff, at 772-913-342...
20 Vero Beach Florida Homes for sale
If you are interested in this property or would like to see more properties in the Vero Beach Treasure Coast area, call me, Vance Brinkerhoff, at 772-913-342...
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Capt. Blair fishes inshore for trout and redfish in Vero Beach, Florida with Capt. Christian Yergens. WEBSITE http://www.addictivefishing.com ...
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This s a video that I made at Vero Beach Florida on March 8, 2013 on my way to West Palm Beach to film Amtrak and Tri Rail and some serious issues with malfu...
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On March 12, 2007, CNBC ran this piece on Vero Beach, Florida: Welcome to Vero Beach, Fla., where the rich come to live and play. "On the Money's" Mike Heged...
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