Home › Forums › Closed Forums › Buying and Selling RE › How does one find NODs?
- This topic has 30 replies, 3 voices, and was last updated 15 years, 1 month ago by
jpinpb.
-
AuthorPosts
-
April 13, 2009 at 12:28 PM #15477April 13, 2009 at 4:13 PM #380214
Scarlett
ParticipantI guess I should rephrase the question. Is paying a subscription to one of many websites the ONLY way to find out about NODs and NOTs in a certain area?
a side question – has anyone tracked down owner who had a NOD and approach him about selling the place – I mean, successfully?
April 13, 2009 at 4:13 PM #380487ParticipantI guess I should rephrase the question. Is paying a subscription to one of many websites the ONLY way to find out about NODs and NOTs in a certain area?
a side question – has anyone tracked down owner who had a NOD and approach him about selling the place – I mean, successfully?
April 13, 2009 at 4:13 PM #380675ParticipantI guess I should rephrase the question. Is paying a subscription to one of many websites the ONLY way to find out about NODs and NOTs in a certain area?
a side question – has anyone tracked down owner who had a NOD and approach him about selling the place – I mean, successfully?
April 13, 2009 at 4:13 PM #380722ParticipantI guess I should rephrase the question. Is paying a subscription to one of many websites the ONLY way to find out about NODs and NOTs in a certain area?
a side question – has anyone tracked down owner who had a NOD and approach him about selling the place – I mean, successfully?
April 13, 2009 at 4:13 PM #380850ParticipantI guess I should rephrase the question. Is paying a subscription to one of many websites the ONLY way to find out about NODs and NOTs in a certain area?
a side question – has anyone tracked down owner who had a NOD and approach him about selling the place – I mean, successfully?
April 13, 2009 at 4:23 PM #380234SD Realtor
ParticipantScarlett you need to talk to the queen of NODs.
JP, paging JP!
April 13, 2009 at 4:23 PM #380507ParticipantScarlett you need to talk to the queen of NODs.
JP, paging JP!
April 13, 2009 at 4:23 PM #380695ParticipantScarlett you need to talk to the queen of NODs.
JP, paging JP!
April 13, 2009 at 4:23 PM #380742ParticipantScarlett you need to talk to the queen of NODs.
JP, paging JP!
April 13, 2009 at 4:23 PM #380870ParticipantScarlett you need to talk to the queen of NODs.
JP, paging JP!
April 13, 2009 at 4:37 PM #380244jpinpb
ParticipantScarlet – I am fortunate to have a source that provides me info and I’m paying it forward by marking them on SDL for the ZIPs I’m interested in and if it helps anyone else, then it’s not just a selfish act of me databasing online and wasting time trying to be proactive while searching in frustration.
Jim The Realtor has a list of foreclosures on his website and it’s free. There are other pay services out there.
I have not approached owners who are in default. The reasons why: more times than not their loans are way more than the comps in the area and the only way to buy would be a short sale which takes forever and it seems that when a bank (ever dragging their feet) eventually takes it, it lists it for less than the last attempted short sale price.
However SDR did assist someone w/a quick bank owned on Chambord 😉
If you come across any w/NODs, watch carefully. If you have mastered being unemotional, then patience is the key. In other words, don’t fall in love. If you don’t get the short sale or bank owned, it’ll just help the next one sell for less. If you see one being sold by the bank that you have to have, be ready to strike, cash preferably, but alternatively good credit, income, DTI ratio in order, etc. and be prepared to offer more, but quite possibly selling for cash for less to someone else.
We are discussing this on the foreclosure thread. It just takes such a long time to go from homeowners not paying to NOD to foreclosure. Really, I don’t even think there is an incentive on the part of the owner to sell beforehand. I mean, why. They live there for free until the bank takes it, which can be over a year all said and done.
The only time this would make sense is if the owner is out of the city/state and it is strictly an investment property. Particularly if it’s not rented. Those are the ones the banks act on the quickest from NOD to foreclosure.
April 13, 2009 at 4:37 PM #380517ParticipantScarlet – I am fortunate to have a source that provides me info and I’m paying it forward by marking them on SDL for the ZIPs I’m interested in and if it helps anyone else, then it’s not just a selfish act of me databasing online and wasting time trying to be proactive while searching in frustration.
Jim The Realtor has a list of foreclosures on his website and it’s free. There are other pay services out there.
I have not approached owners who are in default. The reasons why: more times than not their loans are way more than the comps in the area and the only way to buy would be a short sale which takes forever and it seems that when a bank (ever dragging their feet) eventually takes it, it lists it for less than the last attempted short sale price.
However SDR did assist someone w/a quick bank owned on Chambord 😉
If you come across any w/NODs, watch carefully. If you have mastered being unemotional, then patience is the key. In other words, don’t fall in love. If you don’t get the short sale or bank owned, it’ll just help the next one sell for less. If you see one being sold by the bank that you have to have, be ready to strike, cash preferably, but alternatively good credit, income, DTI ratio in order, etc. and be prepared to offer more, but quite possibly selling for cash for less to someone else.
We are discussing this on the foreclosure thread. It just takes such a long time to go from homeowners not paying to NOD to foreclosure. Really, I don’t even think there is an incentive on the part of the owner to sell beforehand. I mean, why. They live there for free until the bank takes it, which can be over a year all said and done.
The only time this would make sense is if the owner is out of the city/state and it is strictly an investment property. Particularly if it’s not rented. Those are the ones the banks act on the quickest from NOD to foreclosure.
April 13, 2009 at 4:37 PM #380705ParticipantScarlet – I am fortunate to have a source that provides me info and I’m paying it forward by marking them on SDL for the ZIPs I’m interested in and if it helps anyone else, then it’s not just a selfish act of me databasing online and wasting time trying to be proactive while searching in frustration.
Jim The Realtor has a list of foreclosures on his website and it’s free. There are other pay services out there.
I have not approached owners who are in default. The reasons why: more times than not their loans are way more than the comps in the area and the only way to buy would be a short sale which takes forever and it seems that when a bank (ever dragging their feet) eventually takes it, it lists it for less than the last attempted short sale price.
However SDR did assist someone w/a quick bank owned on Chambord 😉
If you come across any w/NODs, watch carefully. If you have mastered being unemotional, then patience is the key. In other words, don’t fall in love. If you don’t get the short sale or bank owned, it’ll just help the next one sell for less. If you see one being sold by the bank that you have to have, be ready to strike, cash preferably, but alternatively good credit, income, DTI ratio in order, etc. and be prepared to offer more, but quite possibly selling for cash for less to someone else.
We are discussing this on the foreclosure thread. It just takes such a long time to go from homeowners not paying to NOD to foreclosure. Really, I don’t even think there is an incentive on the part of the owner to sell beforehand. I mean, why. They live there for free until the bank takes it, which can be over a year all said and done.
The only time this would make sense is if the owner is out of the city/state and it is strictly an investment property. Particularly if it’s not rented. Those are the ones the banks act on the quickest from NOD to foreclosure.
April 13, 2009 at 4:37 PM #380752ParticipantScarlet – I am fortunate to have a source that provides me info and I’m paying it forward by marking them on SDL for the ZIPs I’m interested in and if it helps anyone else, then it’s not just a selfish act of me databasing online and wasting time trying to be proactive while searching in frustration.
Jim The Realtor has a list of foreclosures on his website and it’s free. There are other pay services out there.
I have not approached owners who are in default. The reasons why: more times than not their loans are way more than the comps in the area and the only way to buy would be a short sale which takes forever and it seems that when a bank (ever dragging their feet) eventually takes it, it lists it for less than the last attempted short sale price.
However SDR did assist someone w/a quick bank owned on Chambord 😉
If you come across any w/NODs, watch carefully. If you have mastered being unemotional, then patience is the key. In other words, don’t fall in love. If you don’t get the short sale or bank owned, it’ll just help the next one sell for less. If you see one being sold by the bank that you have to have, be ready to strike, cash preferably, but alternatively good credit, income, DTI ratio in order, etc. and be prepared to offer more, but quite possibly selling for cash for less to someone else.
We are discussing this on the foreclosure thread. It just takes such a long time to go from homeowners not paying to NOD to foreclosure. Really, I don’t even think there is an incentive on the part of the owner to sell beforehand. I mean, why. They live there for free until the bank takes it, which can be over a year all said and done.
The only time this would make sense is if the owner is out of the city/state and it is strictly an investment property. Particularly if it’s not rented. Those are the ones the banks act on the quickest from NOD to foreclosure.
-
AuthorPosts
- The forum ‘Buying and Selling RE’ is closed to new topics and replies.