Check Potential Pre-foreclosure Bargain

How much is owed on the property and if the owner has any other liens against the property. This is all public information and you can research on your own with the county recorder or you can use RealtyTrac’s property reports and tools to help. This process should not take more than a day or two, because you don’t want to delay long before contacting the owner in default.

Subscribers usually have access to the estimated market value based on comparable sales as well as the estimated loan balance, called either the Balance or Opening Bid on the Property Details screen. You can also look at the Trans Date (date purchased) and Trans Value (purchase amount) to estimate the loan balance.