Foreclosures typically will require you to catch up the back payments
or to pay off the loan - depending on your method - and they usually
will need some sort of repairs or updating to the property (paint,
carpets, etc).
Hello Everyone,
My post is exactly that, I was wandering if you can wholesale pre-foreclosures by possibly using a lease-option, and assign your contract to a buyer (or buy yourself) before the property goes to auction? Please let me know if this is possible. Thanks in advance.
-Conor
Just make sure the lender/mortgagor doesn’t follow through with the foreclosure though. That’s the tricky part…make sure you have everything in writing before you pull something like this though.
If your LO TB has enough money, everyone should be more than happy.