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Open Houses
Buying Pre-Foreclosures
by Marc Rasmussen
These methods work in Florida because we have mortgages, however I am not sure of the process for states that use deeds of trust. Much of this information will apply to Florida and its laws so it is best to get the overall gist and apply it to your area.
I have purchased several properties over the last 6 years in the Sarasota, Florida area by finding pre-foreclosures. Pre- foreclosures are simply homes that have gone into foreclosure but have not sold at the auction yet.
This used to be a great way to pick up undervalued real estate. However, recently it has not worked that well do to the super hot Sarasota, Florida real estate market. I started out with pre-foreclosures because I did not have the money to purc...
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