FORECLOSURE ANSWER - Posted by JT - IN (St. barth, FWI)
Posted by JT - IN (St. barth, FWI) on July 24, 2001 at 14:21:56:
I do “work foreclosures”, buying about 15 or 20 of them per yr, and I know of lots of bad things, (and seen them happen, fortunately not to me). There are ways of avoiding these many pitfalls. The answer is called “EDUCATION”.
If you were asking about trying to perform surgery, as example, well you must go to medical school, and learn the trade of surgery. Foreclosure is no different, unless you want to learn by making mistakes, it is best to learn before you get involved, with your name on the line, as there are many situations germain to 4closures that can be avoided, but not by a novice.
I would suggest buying Joe Kaisers “Dominate your Forcls Market”, which is avail right here on this sight. Also, there are several books about foreclosure, on by Ted Thomas, but i can’t think of the name currently; could be Buyuing RE at Forclosure"
and most of all , attend many sales in your area, and make sure you have a feel of the landscape before getting involved!!
I have seen ppl buy property that they thought was free an clear, only to find liens that they didn’t realize existed; that had to be paid off for clear title. I have seen ppl buy houses with foundation problems, and environmental problems, etc. Foreclosures are fraught with problems, as you are buying from someone that is in financial problems, so this is how much of it occurs.
Best word of advise here, is if you are not “lead pipe cinch sure” about whatever the question is concerning foreclosures, then don’t procedd ahead until you are darned sure! Mistakes in 4closures are expensive!!! Enough said.
Just the way that I view things…
JT - IN (from St. Barth, FWI)