Purchasing Foreclosed Property – Course Overview
“One man’s trash is another man’s treasure.” English Proverb
The purchase and redevelopment of a foreclosed property can be very lucrative to the real estate professional. However, the risks associated with such an endeavor can be just as great.
This course will discuss the aspects and challenges in the purchase of a property that is subject to a foreclosure. Real world examples will be provided to demonstrate how to succeed in this venture and also the pitfalls that always linger right below this surface.
In this 4-hour course, we will review the following topics related to purchasing foreclosed properties.
1. Locating information/listings on Foreclosure properties?
2. Differences between a Foreclosure, a Short Sale, and a Deed in Lieu.
3. Review of Court filings in a Foreclosure.
4. Methods of Foreclosures from state to state.
5. Timelines and their importance.
6. Working with the Foreclosing lender and their Attorney.
7. What is Loss Mitigation?
8. Pitfalls in purchasing foreclosure properties. There are a lot of scams out there!
9. Q&A Session.
A. PowerPoint Presentation Slides with Discussion Points.
B. Checklist to be used during the Foreclosure purchase.