By Ralph R Roberts
Research the full fact approximately foreclosure and realize a few actual deals with the myth-busting info in foreclosures Myths: seventy seven secrets and techniques to Saving hundreds of thousands on Distressed Properties!. discover the reality approximately seventy-seven power myths that hinder would-be owners and actual property traders from making the most of great revenue capability. know the way to discover, evaluation, and purchase foreclosures houses at a chit, together with how one can use different people's funds to finance your investments via firsthand tales from best execs and convenient assets like govt foreclosures instructions.
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Additional resources for Foreclosure Myths: 77 Secrets to Saving Thousands on Distressed Properties!
This is a great time to give you the insider’s view of a foreclosure auction. Foreclosure auctions are held in publicly accessible locations. The old stereotype of an auction on the courthouse steps is often true: If the notice refers to the sale being held on the courthouse steps, it literally means the steps outside the courthouse. Last-minute postponements are relatively common.
In extreme cases, the redemption period can be up to one year. To determine your state’s redemption period, contact your local county or city offices, or check in the Appendix at the back of the book. What’s important is that you know how much time a typical foreclosure requires and the maximum amount of time it takes. If you buy a home planning to sell it in 30 days when the homeowner has 90 days to live there rent-free, you may be sorely disappointed to find out that the law is not on your side, especially if you have to pay property taxes and insurance 24 P1: OTA/XYZ P2: XYZ JWBK213-02 JWBK213-Roberts June 15, 2008 8:39 Printer Name: Yet to Come THE FORECLOSURE PROCESS for those 90 days, and the people living in “your home” are not paying you rent.
The agent may not be able to offer you a great deal on REO properties, because he is supposed to get the highest price possible for the bank, but if the agent knows that you have the cash to close quickly 18 P1: OTA/XYZ P2: XYZ JWBK213-01 JWBK213-Roberts June 15, 2008 9:44 Printer Name: Yet to Come GETTING STARTED and that’s what the bank wants, you may be able to negotiate an attractive purchase price. MYTH # 10 I Can Do This by Myself. Fact: Of Course You Can, but Why Should You? Building a team dramatically increases your chances for success, and with the right team in place you can handle more opportunities each year and generate enough additional revenue to more than cover the expense of having more people on board.