Foreclosures are an everyday household word.  But what is really a foreclosure?  Is it a property that

is thousands of dollars under the true market value or is it a property that is not thousands of dollars under

the true market value but is in a defaulted payment state?  Both explainations are applicable to a property

that is in foreclosure.  In essence, a foreclosure property is the same property that is passed through a

diversity of stages.  First the property is in preforeclosure, meaning it is scheduled to be outcryed  at the

court house steps in non-judicial states, but is still currently in the publication of the legal organ of the

county.  After four weeks of consecutive publication,  the property will be outcryed by the foreclosing

attorney and  sold to the highest bidder.  Upon full payment the sheriffs deed of foreclosure is legally

recorded.  The foreclosure process is now complete. Purchasing a foreclosure property at the court house

steps is the most horrowing ecperience for the  beginning investor.  Many times, the property has a number

of liens on it, and the foreclosing attorney has no duty to disclose  what lien he is foreclosiing on.

The other more pleasant purchase of a foreclosure property is through a real estate agent that is

familiar with these kinds of properties.  We have access to extensive listings of foreclosures on the

market, and best of all, many of them can be viewed, and the title will be clear and marketible. In the real

estate market , the buyer must understand the theory  of caveat emptor, which means the buyer must be

aware.  What you purchase today, may be either your goldmine or your loss of tomorrow.  Be careful.  Seek

professional help from us, before you purchase.