Читать книгу Foreclosure Investing For Dummies - Ralph R. Roberts - Страница 56

Although you can certainly wait for the foreclosure auction to roll around, the pre-auction stage offers several benefits to foreclosure investors:

 Less competition from other investors.

 More options for negotiating deals with homeowners and their lenders.

 More time to put together a deal and close on the house.

 Increased opportunity to inspect the condition of the house, inside and out.

 No redemption period or other legal issues at the end that can sink the deal. When you close on the property, it’s yours. You may have to wait a week or two to take possession, depending on your agreement with the homeowners, but you don’t have to wait three months to a year for the redemption period to expire. For more about redemption, skip to the section at the end of this chapter called “Waiting Out the Redemption Period — If Necessary.”

At this point, you’re probably ready to dive into the pre-auction stage and start scooping up properties from homeowners who are eager to shed the financial burden. But before you leap, consider some of the following drawbacks of buying directly from homeowners:

 Emotional fallout, including anger and resentment, from the loss of a home

 Complications of dealing with other people’s financial messes

 Misleading information or outright lies from homeowners who are desperate or still in denial

 Indecisiveness of homeowners who change their minds at the last minute because they really don’t know what they want

 Legal issues concerning just how far you can go to persuade homeowners to sell their property at less than market value without committing fraud

Carefully consider the pros and cons before investing in anything, and honestly assess your ability to deal with the negative aspects of certain investment options. Buying foreclosure properties in the pre-auction stage isn’t for everyone.