The real estate industry provides multiple ranges of properties to choose from. Short sales homes are among the most lucrative properties you can find in real estate.
Distressed properties are sold at a significantly lower price than what is owed on the existing mortgage to avoid foreclosure. This can be very advantageous for anyone seeking to invest in them.
However, you will need a proactive plan to give yourself an advantage over other competitors when approaching distressed properties. That said here are ways investors can locate a good Florida short sales deal before everyone else.
Networking
The key to finding almost anything you want is by working with others. After all, a team that works together performs excellently.
Like-minded investors are an invaluable source of information and might help you locate just about any property you need. They probably know almost every property in their respective region and may also have a buyers list at hand.
By securing a spot on the buyer’s list, you are in a better position of securing a property that matches your needs. Basically, they will help you find short sales near you while you provide them with a means for wholesaling.
You can decide to visit a local real estate club, post an ad or visit additional websites to connect with other like-minded investors.
Look For Investor-Friendly Real Estate Agents
Choosing to work with a willing agent or anyone you have worked with before is pivotal for success. Regardless of their title or position, anyone willing to boost your career growth should be the first person to contact.
As long as they have the knowledge in the said field, you are at a better chance of finding the best-distressed properties.
The best real estate agent will provide you with a punctual and timely response. They should also have good communication skills. Read here for more https://homeguides.sfgate.com/short-sale-7204.html
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Search Public Foreclosure Listings
Take advantage of the public records of those facing foreclosure. Most lenders will report a mortgage payment defaulter to the credit bureau once they fall behind on their payments. These reports are recorded either publicly or non-publicly.
Public foreclosure lists are easily accessible as long as you provide the necessary paperwork to obtain the list. Even though the laws on how to go about getting the list differ from state to state, here are some of the options to include.
- Title companies
- The county recorder’s office
- Local or national list providers (for a fee)
Conduct Online Research
You can find almost anything today on the internet, including short sales. There are companies whose main business is to provide such information to the public.
All you need is to visit their website and make a request. Some sites may charge you a small fee to do your dirty work. However, if you don’t wish to spend any penny, take advantage of Google.
Simply type in what you are looking for and the valuable information will be provided. But no matter the route you choose to take, consult a real estate expert before closing any deals. Always check the best money rates in Florida before doing any purchases.
Visit a Local Courthouse
Real estate auctions are popular in most courthouses so take advantage of such opportunities. You can also contact the County Recorder’s office or title companies for such info.
When a homeowner fails to pay their mortgage, the bank files a notice of default. At this point, the lender may decide to put the property on auction.
On the other hand, if the homeowner fails to pay property taxes the relevant authority may file foreclosure proceedings, therefore, placing the home up for auction. You will find so many houses on auction today, making the opportunity more abundant. Click here for more insights.
Conclusion
As with any form of investment, a successful short sale requires proper planning to minimize risks. Know what it takes to own a distressed home and weigh the paybacks and drawbacks of venturing into this opportunity.
Well, finding the right property may not be easy but with the right strategies and knowledge, you don’t have to worry much. The search might be tedious and frustrating in the beginning, but rewarding in the long run.
Whether you are new to investing or an expert, distressed properties provide great opportunities for smart real estate investors who realize their potential.