Your questions about yahoo real estate

Wize Guy answers:

You need to negotiate with the owner of the property, which will be the person who is in pre foreclosure.

You have no idea if the owner even wants to sell their home. Even if they do want to sell, there is not much likelihood that they will accept an offer to cover the existing mortgage. What you will actually find is that the amount owed to the lender is more than the 25K in that back payments, foreclosure fees, lates etc will be tagged on.

Also, you need to check your local state laws. NY has a Home Equity Theft Protection Act that gives home owners 5 business days to decide after contract signing if they still want to sell. More states are following. All states allows owners three businesses days under Federal law for a contract to be rescinded. You don’t want to be deemed as a predator!

If the property goes to auction, you need to be at the auction steps to bid on it, along with a 10% cashier’s check for the amount you are going to bid. It is unlikely that you will not have stiff competition at the auction if there is a pile of equity. Even the lender’s attorneys have a little leeway in bidding upwards, although any additional amount left over after paying the lender should go back to the home owner.

David Litterick
www.ShortSaleServicesForAgents.com

Wize Guy answers:

If you are talking about the “Find a REATLOR” button, sign up with HomeGain. All request go thru them.

Wize Guy answers:

if you are in the uk

simply add your property to livesimply and it will go on yahoo property for free instantly

its free and it stays on until you remove it.

the service is free for private landlords

Wize Guy answers:

do not put all your hopes in website listings. The market has changed from buyers looking online to local word of mouth. Too many scams and upside down backwards flipping deals going on in the world from people posting property on the internet they do not really own.

it does not hurt but do not put all your faith on a internet ad.

consider a local independent broker who knows your market area, will pre-screen any buyers and saves your sanity of the 1am telephone calls of “i am a real estate investor” who has no money, no credit but wants to offer you a seller financing option contract.

Wize Guy answers:

I was the designated realtor for yahoo real estate in ventura county for a long time. It cannot be expanded that way. It is set up for residential only, and they cherry pick the listings that go in. The idea is to connect the party with a realtor who can truly find out what the client’s need are and then as a specialist in the area, get the property needs met. If you want to see commercial listings, go to www.loopnet.com. I am a paid member there, so I can see more than the unpaid members, but by and large, you can see every commercial property for sale or least there.