Читать книгу Foreclosure Investing For Dummies - Ralph R. Roberts - Страница 61

Whether you buy properties directly from homeowners before auction or wait until the auction, the weekly foreclosure notices in your area are required reading. In almost all areas of the country, the lender must post a weekly foreclosure notice or Notice of Default (NOD) in a publicly accessible publication several weeks before the auction. In my area, the foreclosure notice must be posted for four consecutive weeks before the sale in any public newspaper that serves the area. The appendix at the back of this book explains each state’s requirements for posting foreclosure notices.

The posting of the foreclosure notice is almost an entirely separate stage of the foreclosure process — after negotiations between the homeowners and lender break down, but before the property is sold at auction. At this stage, every foreclosure investor in your area probably knows about the property, and any investors who are interested in buying the property before auction are likely in the process of trying to contact the homeowners.

The investor who arrives first and whom the homeowners trust most is typically the investor who stands to get the property.

As you discover in Chapter 7, you can find foreclosure properties even before the foreclosure notice is posted by keeping your ears open, networking effectively (as explained in Chapter 6), and getting the word out that you buy properties.