Buying or Selling a Home/pre-forclosure

Advertisement

Expert: - 1/1/2007


Question
my neighbor is in a pre-forclosure situation, I am interested in purchasing the property, should I first contact a real estate attorney? realtor? or can I first purchase a title search to ck for leins?

Answer
It doesn't make a difference if the property is across town or next door, Peggy, you have to treat that situation the same, unless you have an in with the owner. You could contact a REAL ESTATE attorney to write up an offer in conjunction with a possible "short pay."

Ask the attorney about it and impliment it if you can and it is warranted. The attorney can also check the title of the property to make sure there are no other liens you would have to contend with other than the mortgage.

I do wish you well.

Dick Dennis            dixiedee13@aol.com

Buying or Selling a Home

All Answers

Answers by Expert:

Ask Experts

Volunteer

Dick Dennis

Expertise

With more than 41 years as a real estate broker, I can solve most any problem presented. If I can`t, I do my research. Problems with mortgages, trust deeds, foreclosures, odd ways of conveying titles. Most any good Realtor can answer questions satisfactorily, but I answer questions that most cannot. Also, ask about my hard-copy newsletter, The Landed Gentry. It can also be sent to you via PDF.

Experience

Solving real estate problems for 37 years.

Organizations
National Association of Realtors

Publications
Publishes The Landed Gentry, guest writer in Who's Who in Creative Real Estate, First Tuesday, Financial Freedom and many newspapers

Education/Credentials
e-Pro Realtor, Certified Distressed Property Expert, Who's Who in Creative Real Estate

©2012 About.com, a part of The New York Times Company. All rights reserved.