florida foreclosure process

The time is now to get in on year end deals from banks andmortgage companies who are carrying properties (REOreal estate owned). Foreclosures - REO's are an on going problemfor the mortgage industry at a 52 year high, banks and mortgagecompanies are overloaded with homes.

To get your best deals in properties follow thesetips:

Work with a Real Estate Agent - agents are ready andwilling to work with investors, remember that agents expect todo business now don't drag them all over town wasting their timeand your time. Be ready to buy. Some commissions are aslow as 1.5% that's $375.00 to an agent on a $50,000 propertywhich is normally $750.00 not much income after all the hoopsthe mortgage companies will make them jump through.

MLS and REO Services - Access to property information ispretty easy today if you know where to look. You can get accessto the public side of the MLS and find most properties for saleyou will not be able to do the fine tuned search that your agentcan. Banks and mortgage companies all have web sites you canaccess to hunt for properties; again your agent can get moredetailed information and be on an email list as a registeredlicensed agent. You can do all the work yourself with out anagent, but you will need an agent to make an offer.

HUD - VA - Government Owned - The only access you willhave to these properties is through an agent who is registeredwith the agency. Some properties have special keyed locks andonly registered agents have the keys. The process is moredetailed and closing by year end is not as important, this isthe government they don't have share holders to answer to.

Be Ready To Buy - Have your financing in place line up yourhard money lenders, self-directed IRA's, private lenders,partners, credit cards, and cash, 2nd mortgage your home. Whatever you plan on using to buy an investment property be readyand able to close before year end to get the best discounts.