How do I buy foreclosure home in NJ?
Question:
Answer:
Well, if you don't want to go the auction route you have a couple different options.
1) Preforeclosures. Get an online listings source and find pre-foreclosures (I use foreclosure.com). Now you can identify the property you like (get funding!) and make a proper offer. You will also help the home owner slide without a foreclosure on their record.
2) Foreclosed. Meaning ones that don't get sold at auction become REOs. Or bank-owned properties. Then you can go straight to the lender and wheel and deal. You should probably have a buyers agent though, to look out for your interests. They may even get you a deal if you finance through them.
Ok. good luck.
Nearest court house, newspapers, website,
Start by looking up foreclosures in the legal notice section of yoru local paper. If you see something you are interested in do your research on it, call the attorneys office (listed in teh ad) to find out if the auction is still taking place (they are cancelled at times up to the last minute before the auction)
Research the property the best you can, you dont want to get stuck paying someones first mortgage if the judgement is on a second mortage.
You can look up records at a county clerks office or get a title serach done on the property.
You must have certified funds to bid.
There really is a lot more to it then that, but thats a start.
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