Preforeclosures - Posted by MWhite

Posted by Bob H on December 13, 2000 at 02:59:49:

As I understand your post, you are soliciting owners, who are facing serious financial and time constraints, with offers to buy, that you are both unable and/or unwilling to perform on. Is this correct?

Putting aside the ethical issues of conducting your business in this manner, you will face a severe competitive disadvantage to other investors who show up with cash in hand, actually ready, willing and able to solve the seller’s problem.

Preforeclosures - Posted by MWhite

Posted by MWhite on December 12, 2000 at 23:11:38:

Is it possible to assign a contract of a house in the preforeclosure stage? I have found a number of houses and sent out letters offering to buy the houses. I don’t have a lot of money and i intend to assign the contract instead of buying. Is this a good idea or not?

Thank you

Re: Preforeclosures - Posted by Rob FL

Posted by Rob FL on December 13, 2000 at 07:37:57:

I would only do this if your contract is not contingent on any type of seller financing and you know the investor you are assigning the contract to. The last thing you want is for them to back out at the last minute. If this happenned, and the owner ended up getting foreclosed expect lots of trouble.