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The Basics Of Real Estate Foreclosure

Aug 12, 2008
What are real estate foreclosures? Real estate foreclosure is when a mortgagee's right to redeem a mortgage is taken away by the lending institution. Often homes are foreclosed by the lender because mortgage payments have not been made. And foreclosure ensures, through legal proceedings, that the lender has a means of restitution on the defaulted loan. For a real estate investor, the below market prices on foreclosed listings means you can easily make profit.Real estate tips from Derek Ebrecht of GREEN LIGHT REALTY.

How do I import the foreclosure data into Shark Bait? Request that the foreclosure data service provides the foreclosure information in either the dBase4 format, or Comma Delimited Text (.csv or .txt) formats. Shark Bait will automatically convert all of their field names, to match the target field names which Shark Bait uses. The import process takes about a minute, and then you're on your way.You simply set the ratio of "Debt to Value" that you want as a maximum amount. . . and Shark Bait does the rest, (e.g. you may only want to look at properties with at least 30% equity in them, thereby less than a 70% Debt to Value ratio). You can usually evaluate several hundred properties in about 15 minutes, and sort out just those properties that have significant equity in them . . .Request that the foreclosure data service provides the foreclosure information in either the dBase4 format, or Comma Delimited Text (.

How do I find the best deals out of hundreds of new foreclosure records? You simply set the ratio of "Debt to Value" that you want as a maximum amount. . . and Shark Bait does the rest, (e.g. you may only want to look at properties with at least 30% equity in them, thereby less than a 70% Debt to Value ratio). You can usually evaluate several hundred properties in about 15 minutes, and sort out just those properties that have significant equity in them . . .If it is an auction sale by a private party, usually there will be open houses or you can arrange with the auctioneer to see the property. In an auction situation, you often do not have access.

Where do the foreclosure listings on BuyBankHomes come from? The foreclosure listings on BuyBankHomes come from Sellers and Real Estate professionals of REO properties.Yes you can. If you have the relevant details, you can still use Foreclosure Wizard to assess the viability of any real estate deal, and still structure a purchase offer that locks in your profit.

Do I need a real estate professional in order to buy foreclosure properties? While a real estate professional is needed to purchase a government owned foreclosure property, no such entity is needed to purchase Real Estate Owned (REO) Properties. In fact you do not need a broker or agent to purchase pre-foreclosure properties or auctions properties.

What are the rewards of subscribing to Mostly Foreclosures? Why do so many investors interested in real estate foreclosure home subscribe to Mostly Foreclosures's Listing service? We have the best access to foreclosed properties on the internet. We make it simple for real estate investors to increase their personal wealth through foreclosed home investing by providing: And those are just a few of the advantages of using our Pre-Foreclosures, Foreclosure Listings, repo houses, Repossessed Property search!You simply set the ratio of "Debt to Value" that you want as a maximum amount. . . and Shark Bait does the rest, (e.g. you may only want to look at properties with at least 30% equity in them, thereby less than a 70% Debt to Value ratio). You can usually evaluate several hundred properties in about 15 minutes, and sort out just those properties that have significant equity in them . .
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