Pre Foreclosure Attorney in Hemet

The term Pre Foreclosure Attorney in Hemet investing is somewhat self-descriptive. Buying a home before the foreclosure process is completed as an investment can be a sound investment practice if you know what you’re doing. Whether you’re buying government foreclosure homes or local bank foreclosures, these pre-foreclosure investing tips will allow you to decide how to proceed given the facts of any investment opportunity.


We all know in this economy that millions of people have lost or are in the process of losing their homes. Buying pre-foreclosure homes is a strategy that can be very profitable if you understand all of the variables that can work in your favor or against you.

When you speak to a seller facing foreclosure, it’s critical to first ask the seller exactly what they owe the bank. If they haven’t been making payments, then accrued interest, penalties, and attorney legal fees on behalf of the bank can also apply. As a result, your pre-foreclosure investment may become a short sale pre-foreclosure investing process. If this occurs, you have two parties that need to approve your contract. The homeowner and the bank. Any offer should be contingent upon the acceptance of both parties.

In a short sale situation, getting the banks’ approval can be a very time-consuming task if they’re not a local lender that you can walk right into and talk with a real person close to the situation. The bank will take a look at the net proceeds that they’ll get from the sale and make a decision if they’re willing to move forward or not and if they’re going to possibly pursue the seller for a deficiency judgment if your state is one that authorizes the bank with this ability.

To put it simply, a short sale complicates the process, takes more time, and may not let the seller off the hook Scott-free. The bank should, however, before transferring the property to a buyer, pay past due property taxes if they exist and most other expenses that can specifically be attached to the property.

Lastly, when you’re looking to buy Pre Foreclosure Attorney in Hemet properties, make sure to have attorney representation from offer to closing. There are too many details that anyone can easily miss if you don’t do this for a living and while deals can be profitable, mistakes can be very costly.