Search Pre-Foreclosure Properties

What are Pre-foreclosures?

Pre-foreclosure is the period between receiving the “notice of default” on a mortgage and the lender repossessing the home and selling it at auction. Pre-foreclosure homes are considered distressed and present a great option for investors looking to make a profit. Once a lien is placed on the house, it is in foreclosure and no longer a pre-foreclosure option. The key to a successful investment is finding pre-foreclosure homes and making an offer as soon as they hit the market.

Using PropertyChecker, investors can access unlimited nationwide searches and find pre-foreclosure properties within minutes. The service also offers:

• Build targeted lists of motivated buyer and seller leads.
• Alerts when a new property hits a pre-foreclosure status.
• Detailed information about the property.
• Owner information, including name and contact info.
• Nationwide coverage.

Pros of Pre-Foreclosure Home Investing

Pre-foreclosure and foreclosure are stressful for the homeowner but can offer a great opportunity for a savvy investor. Distressed homes offer a unique opportunity to those looking to pick up properties and sell them for a profit. Some of the pros of buying pre-foreclosure homes include:

• Motivated Sellers: Due to the stress of the situation and being in financial trouble, sellers are often very motivated and willing to take less than fair market value (FMV) for the property. Facing foreclosure can ruin a person’s credit for years. Many homeowners would rather sell before it gets to that point.
• Better Price: Most pre-foreclosure homes sell for far less than they are worth, making them a sound investment.
• Easier Access: Once the home is in foreclosure, you cannot access it to assess its condition. During pre-foreclosure, you can work with the seller and have an appraisal and inspection completed to evaluate the potential investment properly.
• Financing: When purchasing foreclosure homes, you must pay with cash, but when buying a pre-foreclosure home, you can finance it. If your goal is to flip it fast, financing may be the way to go, and pre-foreclosure affords you this option.
• Less Competition: Pre-foreclosure homes are not advertised for sale, so you will face less competition bidding to buy the house.
• Faster Sale: Pre-foreclosure sales are much faster than foreclosure purchases, which require more legal paperwork and more approvals.

Is it Better to Buy a Pre-Foreclosure or Foreclosure?

Foreclosure homes come with many headaches for property owners and investors. You may face complex legal issues, delays, and mountains of paperwork. You must also bid at an auction and hope you win. If you win, you have to pay cash for the home; there is no option to finance.

Pre-foreclosure homes offer a much better deal for investors. They are often far less expensive than comparable homes, sales can go through quickly without any hassles, and you can find a real deal that makes you a tidy profit quickly.

PropertyChecker collects data from various realty and county records sources nationwide and offers you millions of property records at your fingertips, day or night. You can quickly and easily find pre-foreclosure homes by searching by property type, occupancy, and sale status. You can also find pre-foreclosure homes not listed for sale yet, giving you a leg up on the competition. We make it easy for you to find the homes you’re interested in so you can contact the homeowner and make an offer before anyone else.