If you feel comfortable with it, you can visit the property in person

If you feel comfortable with it, you can visit the property in person. You

may be confronted by an angry homeowner. Be polite and leave if you are asked to. Never, under any

circumstance, snoop around, inspect or generally MBT Kaya, trespass unlawfully on somebody's property. Meeting the

Homeowner Use common sense and dress appropriately, something casual but not sloppy. Be sympathetic. Does the

homeowner need cash? Is he waiting for a bailout? Will he go bankrupt? Find out. Review the loan and mortgage

documents. Verify the loan amount, monthly payments, interest rates, taxes, etc. Review the insurance policies

as well. Get all the pertinent information you MBT Sirima Shoes. Ask the owner if there are any other liens or judgments he

may be aware of. Inspect the property with the homeowner. Never comment on the owners lifestyle, just the

physical condition of the property. Point out the obvious defects or items in need of major repair. Use an

inspection checklist and record your information and estimated costs of repair. Make no promises at this point.

Make no offer or give the homeowner any money. Make an appointment to meet with him again if you think you want

the property. Preparing Your Offer Determine the net equity in the property. This is the difference between the

market value and the default amount plus liens and repair amounts. Negotiate with the lien holder. You may

offer to satisfy the lien for 20% of the amount. Chances are the lien holder will lose everything when the

property sells at auction. Buying out the lien puts more equity in the property and more money in your pocket.

Remember to include closing costs in your calculations for the purchase and sale if you intend to flip the

property. Also included the carrying costs, the MBT Maliza Shoes payments and taxes and insurances, while you hold,

repair, and then resell.