Zillow foreclosures / Pre-foreclosures
Zillow foreclosures are just public records Zillow pulls from the county or auction websites to give cash investors an idea of what MAY go to auction. As of today these properties are not for sale but may come available.
1 of 4 things will happen:
- The owner in pre-foreclosure will pay off their debt and will no longer be available.
- The bank will postpone or cancel the auction. (Happens 50% of the time, due to pay off or going on the open market as an REO.)
- It will be sold at auction (30% chance they sell of the 50% of homes that make it to auction)
- It will be placed on the MLS as an REO property (bank owned) home for sale available to anyone with financing options where we can go after it.
So how about this: I can set up a search for that area. This is the only way we can track if this forclosure/pre-forclosure comes on the market. I can set up the search for a radius, so you can see similar homes and get an idea of what market values looks like if it becomes a listing. Maybe even something better will come up that you like more anyway?
Hope to hear from you soon.