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The Complete Guide to Investing in Pre-foreclosure Short Sales: Everything You Need to Know Explained Simply (Back-To-Basics)

The Complete Guide to Investing in Pre-foreclosure Short Sales: Everything You Need to Know Explained Simply (Back-To-Basics)

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In 2007 and 2008, the number of foreclosures in the US market increased by a whopping 48 percent according to the Federal Reserve and with major mortgage lending banks failing and the government offering buyouts, the chances that the trend will subside anytime before the end of 2009 are slim to none. For that reason, many real estate investors have turned to the possibility of short sales and making money on homes that have not yet gone into foreclosure. This practice, which is ideal for helping both the banks and the home owners on the brink of foreclosure, is a great way to take advantage of current market conditions and make greater profits. This book will work to guide any real estate veteran or beginner in the process of Pre-Foreclosure Short Sales and how to get into the market, contacting banks and owners, making offers, and taking advantage of timing and the right situations. You will learn the basics about what foreclosure is and why it is such a major occurrence and concern in today s real estate market. You will be guided through what a short sale is and why it is such a profitable means of real estate investing. You will learn how to find the best possible short sale foreclosures before they go to foreclosure and how to deal directly with owners instead of banks. You will learn the exact moments that are best for buying and how to bypass the owner when it is necessary. Learn how to write a short sale offer to the owner and the bank and how to start buying from lenders before foreclosure occurs. Top real estate brokers and investors have been contacted and interviewed for this book and have provided additional detail and anecdotes about successful short sales. You will additionally learn how to see from the lender s point of view and how to make the deal final. Learn about FHA, VA, and private mortgage insurance sales and how to starting buying in foreclosure or even after a foreclosure sale. Learn how to avoid major problems and then how to obtain escrow, closing and title insurance. Finally, learn how to flip your sale as quickly as possible while optimizing your returns. The basics and keys to short sales on pre-foreclosures is included in this guide for newcomers and real estate veterans alike.