Buying foreclosures discussion

[RBP]

Here is a link to one I pulled in the past. If you're interested

https://drive.google.com/open?id=0B3...UQ5RkQzODowLjE

That's pretty awesome.

[PorkChopSandwiches]

Yes, the title company is where the real work happens when buying/selling property. A real estate agent is fairly worthless this day in age.

[Noilly Pratt]

I had a friend do that, and around here in BC - most of the houses he found this way used to be grow-ops. And, he found that a bunch of people bidding were probably other would-be dealers wanting to get a ready-made place and pick up where the other dude left off. He was threatened more than once.

So, be careful out there!

[Pony]

Thanks, Pony. Good call on the title search. Structural issues are my biggest concern. I will run, not walk, on those.

Also asbestos and local regulations on dealing with lead paint.

[RBP]

I want to make sure I understand. The bigger money is in foreclosed property sitting in bank inventory that they are itching to dump. Versus a short sale where both the seller and the lender are trying to salvage as much of the remaining loan balance as possible. The latter feels more contentious, while the former is like getting rid of your ugliest daughter for whatever the sheep farmer will pay.

[Teh One Who Knocks]

Sheepist

[PorkChopSandwiches]

I want to make sure I understand. The bigger money is in foreclosed property sitting in bank inventory that they are itching to dump. Versus a short sale where both the seller and the lender are trying to salvage as much of the remaining loan balance as possible. The latter feels more contentious, while the former is like getting rid of your ugliest daughter for whatever the sheep farmer will pay.

It just depends

[Loser]

If you don't know basic structure building and foundation inspection, I wouldn't bother.

Yes, you can pay an inspector, but I've seen them drop the ball on numerous occasions.

Let me just state this. The last foundation I fixed for a customer cost them almost 60,000$. Their "inspector" missed the fact that the wall has been anchored, and then drywalled over.

When they found out their basement was a swimming pool we fixed it.