Due Diligence on Foreclosure Property ? - Posted by Steve

Real Estate Investing Real Estate Law
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Posted by Steve on November 07, 2006 at 18:00:28:

Know of any good reading material ?

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Due Diligence on Foreclosure Property ? - Posted by Steve

Posted by Steve on November 06, 2006 at 13:24:20:

Hi,

How would a person do there due diligence on a foreclosure property thats going up for open bid on the persons lawn ?

Thanks !

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Re: Due Diligence on Foreclosure Property ? - Posted by Bill H

Posted by Bill H on November 06, 2006 at 20:13:58:

Just like on any other property,check the title, check the liens, check what postition the TD is in that is foreclosing…just because it is in foreclosure DOES NOT mean it is a BARGAIN.

Investigate…BEFORE…you invest.

Good Luck,
Bill H

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Re: Due Diligence on Foreclosure Property ? - Posted by Steve

Posted by Steve on November 06, 2006 at 20:23:00:

Hi Bill,

Thanks for the reply. Bill, how would you do your due diligence on a foreclosure property ? Whats “TD” ? sorry my real estate vocab. is poor.

Thanks !

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Re: Due Diligence on Foreclosure Property ? - Posted by Bill H

Posted by Bill H on November 07, 2006 at 14:02:18:

Steve:
From your post I surmise that you are BRAND NEW to this business. My first suggestion is to get some education about this process BEFORE you even think of going into it.

Go to your local eductional facilities, college or community college, and take real estate investment courses. Go to the local library and read all you can find on real estate investments.

We are here to assist you…not to educate and train you…you really have to do an awful lot of work on your part…first.

And:There is no substitute for education…it will pay huge dividens in the long run.

Good Luck,
Bill H