Find Foreclosures in Your Area With These Simple Steps
During this stage, the property owner has been notified of the foreclosure process. This time can be a great time for both the owner and potential buyer to facilitate the transfer of ownership benefiting both sides in many ways.
Here a buyer has to pay cash and assume all liability for the property with little information/research obtained.
Bank Owned/REO (Real Estate Owned)
This is the stage where you will need an adequate real estate professional, Lenders/ REO partners are looking to recoup the original loan amount.