St. Augustine, Florida (PressExposure) December 26, 2007 -- A Pre-foreclosure is a process where by a default has taken place. A notice of default is the first step in this process. If the default is not cured either a judicial or non judicial proceeding is started or property is subject to foreclosure.
Pre-foreclosure is known as Lis Pendens (lawsuit pending) in states that conduct judicial proceedings. There are pluses and minuses in short sales. The major benefits of a pre-foreclosure purchase include the assurance of always securing a clear title, which saves a lot of time, cost and apprehension when buying foreclosures. Other significant benefits include working directly with the seller. There are always the inherent risks to this type of venture. This is a low threat investing vehicle therefore the rewards reflect low end results.
Armed with the right information, discounts of 25% or more are possible even though the average savings ranges from only 5% to 15% off market value. Sale agreements are adjustable and flexible and the investor has adequate time to research on the conditions of foreclosure home, title and the hidden liens. âBuying a pre-foreclosure can actually save you up to 40% of the market value of the pre-foreclosure house.â Says Jeff Kaller, industry expert. Exercising caution is vital in any investment strategy. When purchasing a pre-foreclosure the owner is anxious to sell the property as well as generate as much revenue as possible. Local comparable sales research is essential when considering the value a pre-foreclosure. Itâs also important to consider time and expenditures required to prepare the house for resale. âMy wife waited tables and I ran high volume kitchens. We lived paycheck to paycheck, swapping dollars for hours. It was a dead end job. Now more than 350 houses later, my system has created an absolute army of successful students. Now itâs your turn.â Says, Jeff Kaller.
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Contact Information: Paramount Promotions LLC (The Countries Leading Short Sale Trainer)
Mary Geronimo 303-B Anastasia Blvd. #148 St. Augustine, FL 32080 904-819-0676 Email Address: email@example.com [http://www.FreeShortSaleCourse.com] This Press Release has been submitted by PREasy.com