Fuquay-Varina, NC, December 12, 2009 -- Purchasing real estate can sometimes be a long process and emotionally draining. However, there are companies out there that can make this process easier, such as Fuquay Varina Real Estate. They understand what it takes to assist their client's in making real estate decisions easier.

They understand that the real estate market is ever changing. Joe Worth (owner/broker) and his team have realized that soon the real estate business will be moving virtually on-line. That’s why they now have many resources available, right on their website. This makes it easier for clients to make solid real estate decisions from the comfort of their own home or office. Visit them at http://www.fuquayrealestate.com and keep up-to-date with their real estate news blog, browse listings, distressed homes and foreclosures for free, visit the seller and buyer’s resource center and much more. You can also review homes for sale throughout the Triangle Area on the with Triangle MLS access right on the website.

Fuquay Varina Real Estate services Fuquay Varina, NC, Holly Springs, Apex, Garner, and most of southern Wake County. With a team of the best real estate agents in the Raleigh area, they feel the local focus gives them an advantage over the competition. If you are researching a foreclosure purchase, looking for a home in the Fuquay Varina area, or simply would like some home buying advice, call Fuquay Varina Real Estate today at (919) 285-2675.

Press Contact:
Joe Worth
Fuquay Varina Real Estate
Fuquay-Varina, NC
9193397200
jworth@fuquayrealestate.com
http://www.fuquayrealestate.com

Visit the Author's website: http://www.fuquayrealestate.com

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There are three phases of a foreclosure; pre-foreclosure/short sale, auction, and REO (real estate owned). In this article we will discuss the phases of a foreclosure and when, during the process, is the best time to buy.

A pre-foreclosure is the beginning. Payments are in arrears at least 90 days. The clock is ticking. The first 90 days, only the homeowner and lender know what is happening. After 90 days, a notice of default or Lis Pendens is recorded at the county recorder’s office or register of deeds office. This is the beginning of a foreclosure called a pre-foreclosure. Before a property becomes a foreclosure is a good time to purchase the property. The property is still in the owner’s hands and they may be willing to work with you. First, you need to find them, contact them, ask questions, and do your homework. Only then, offer assistance.

The homeowner still is in control. If there is equity in the property, work with the owner to take an equity position. If there is no equity, work with the lender. Negotiate with the lender to buy the property for less than what is owed (short sale). This can help the homeowner avoid foreclosure and possibly help them avoid any more damage done to their credit. Bank gets rid of a bad loan and you make a profit on the resale. Win-win for everyone.

The next step is a foreclosure auction. After the property goes into foreclosure, it then goes to auction. In order to purchase a home at a foreclosure auction, you need to make a minimum bid, pay off loan balance, all accrued debt, attorney’s fees, and you are responsible for all costs. If someone is still living in the home, you are responsible to evict them. You are responsible for all repairs and repairing all damage. There are no inspections. You buy the house “as is“.

If the house does not sell in the auction, it reverts back to the bank. The lender now has the right to sell the property as an REO (real estate owned), the third and final phase of a foreclosure. What does this mean?

An REO is the simplest way to purchase property. It is a good investment for the first-time homebuyers and investors. An REO property allows you to gain access to the property for an inspection. Lenders have a responsibility to their shareholders and they lose money on non-producing assets. So, they want a quick sale. They are able to provide 20% to 30% savings. All liens and back taxes removed. They are able to negotiate on rehab costs, interest, closing points, and loan amounts. They may allow a less than normal down payment. If there are tenants, the lender will evict them. You don’thave to. 100% risk free.

There are pros and cons to all three ways. However, the safest way is for you to do your homework. Know the property inside and out. Research everything about the property. Then, when you have done your due-diligence, you can make an educated decision.

Your next step is financing. To learn more about all the different options that you have for financing properties and more on foreclosure investing, visit my website:
www.makeaforeclosureinvestment.com and learn the “Secret“ to buying, selling, and making huge profits on your foreclosure investments.

Kimberly Ann

Visit the Author's website: http://makeaforeclosureinvestment.com

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Foreclosures are in high abundance today and investing in foreclosures can make you a lot of money.

Learning how to find foreclosures is one of the first steps. There are many ways to find foreclosures including looking in the classifieds, legal newspapers, talking to real estate attorneys, For sale by Owner, realtors-Short sales, auction companies, IRS auctions, bankruptcies, probate court, and county courthouse/Register of deeds.

In this article, we are going to cover just a few. To get more information on finding, purchasing, and making HUGE profits, go to WWW.makeaforeclosureinvestment.com

Classifieds. Some foreclosures can be found in the local paper, but most are found in legal newspapers. These newspapers can be found a few ways. They are used by professionals, especially by real estate attorneys. To get the name of your local legal newspaper, you can call a real estate attorney’s office and ask them if they take the legal newspaper and if they would give you the name. Some local title companies also use this legal newspaper and sometimes will share the information with their clients or potential clients. If all else fails, try your local library. They do charge a fee for this newspaper, but it is definitely worth the investment.

Understanding how foreclosure sales work is a must for serious real estate investors. You must learn: How records are kept, how records are protected, what laws affect us as investors, how to determine ownership, who owns the property, who financed it, and are there any liens or judgements against the property?

In order to succeed in foreclosure investing, you need to do your research. You can find out the answer to these questions through due-diligence, do your homework.

There are two offices where you can find this information; County Assessor’s office and County Recorder’s office.
In order to find a foreclosure you need to know: the name of the owner, address, or legal description (parcel number). To find the owner of a vacant property, you can ask the neighbors around the property or using the address, you can do a name search.

Using the last name, go to the County Assessor’s office and ask the clerk where they are sending the tax notice and that will give you potential contact information. You can also try the County Recorder’s office and ask them, what documents the owner might have signed in the last few years. Finally, you can try the County Courthouse to check for marriage license information, voter’s registration on file, pending lawsuits, garnished wages, divorces, state probate and landlord evictions. Use this information to get in contact with the owner to start the process. You can also use the last name to get all of the information you need in order to decide if this is really a property you want to invest in. These round out some methods of finding properties.

For more information on how to actually invest in these properties and more detailed information to making lots of money.
Check out my website at WWW.makeaforeclosureinvestment.com. and check out some free information that can change your life forever!!

Kimberly Ann

Visit the Author's website: http://www.makeaforeclosureinvestment.com

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