How to Buy Foreclosed Real Estate: For a Fraction of Its Value
As foreclosures increase, so do the odds of finding the home of your dreams! \ You can ride out the storm in the housing market and find great real estate at amazing values. Whether you're looking for a new home or an investment property, this step-by-step guide will show you how to find, buy, and finance foreclosed property.\ This new edition includes information on:\ \ The current state of the housing market and the opportunities it offers\ How to find foreclosed property on the Internet\...
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As foreclosures increase, so do the odds of finding the home of your dreams! You can ride out the storm in the housing market and find great real estate at amazing values. Whether you're looking for a new home or an investment property, this step-by-step guide will show you how to find, buy, and finance foreclosed property. This new edition includes information on: The current state of the housing market and the opportunities it offers How to find foreclosed property on the Internet Short selling and other techniques for buying foreclosed real estate You'll also learn how to: Research properties Get the best financing Manage investment properties Limit repair and remodeling costs Real estate experts Don Ayer and Dick Pas have revised Theodore J. Dallow's classic text and added invaluable new material in the process, making this the only guide you'll ever need to buying foreclosed property.
Foreword xiHow Did We Get Here? 1If 75 Million People Lose, Say, {dollar}35,000 Each, Is That a Good Day at the Office? 3Moving on to Mortgage Lending 5Important Recent History 10The Rise and Fall of Subprime Lending 20How Foreclosures Happen 26Payment Option Loans and Other Loan Types 33The Best Mortgage Loan and the Second-Best Mortgage Loan 37Other Reasons for Foreclosure 40Deed in Lieu of Foreclosure 47How to Buy Foreclosed and Distressed Properties 53You Have to Know the Numbers 55Preforeclosure-Contacting Mortgagors Prior to the Sale 60Acquire Knowledge and Avoid Emotional Pitfalls 67Short Sales 70Before the Sale 74Preparing for the Sale 86The Sale 91After the Sale 98Calculating a Bid Price for Investment Property 106Investment Real Estate 110Managing Investment Real Estate 117Those Easy-Money, No-Cash Commercials and Seminars 122The Road Ahead 129Fear and Greed 131Fine-Tuning Your Thinking 136We Didn't Know Mortgages and Real Estate Were That Important 139Frequently Asked Questions 143Checklists 151Standard Buyer's Agreement 159Glossary of Crucial Terms 165Index 173About the Authors 176
