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Score foreclosure with commission-free deal

Part 3: Profit opportunities during foreclosure
Published on Sep 21, 2006

(This is Part 3 of a three-part series. Read Part 1 and Part 2.) PROFIT OPPORTUNITY #3 -- BUY AFTER THE FORECLOSURE SALE FROM EITHER (A) THE HIGH BIDDER OR (B) THE FORECLOSING LENDER IF THERE WERE NO BIDDERS. This is my personal favorite time during the foreclosure process to buy. All the emotion is gone. The defaulting borrower is out of the negotiation picture (although you might have to evict him/her as part of your after-sale negotiations with either the lender or the high bidder). Purchase Bob Bruss reports online. I've bought both from the highest bidder and from the foreclosing lender when there were no bidders. If you offer the high bidder a modest profit, he or she is often only too happy to make a quick sale to you without having to pay any real estate sales commission. The same principle applies when you buy from the foreclosing lender who got title to the property because no bidders showed up. If it is a local "buyer's market," ask the foreclosing lender to finance your pu...

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