Pre-Foreclosure Property Lists

A system for finding and purchasing properties before they hit traditional foreclosure listings, focusing on getting ahead of the market through pre-foreclosure lists and auctions.

Pre-Foreclosure Property Timeline

• Traditional foreclosure listings (Last Stage)

  • Properties appear on Zillow and Redfin
  • Most accessible but least advantageous timing

• Auction Stage (Middle Stage)

  • Bank auctions of bankrupt/foreclosed properties
  • Takes place on courthouse steps
  • Happens before properties hit public listings
  • Requires cash purchases via cashier's checks

• Pre-Foreclosure Lists (First Stage)

  • Lists of properties about to enter foreclosure
  • Example: Roddy's List in Texas
  • Costs a few hundred dollars to access
  • Provides earliest possible access to distressed properties

Pre-Foreclosure Strategy

• Door Knocking Approach
  • Contact homeowners directly before foreclosure
  • Offer to purchase property above what they owe
  • Benefits both parties:
    • Homeowner avoids foreclosure and keeps extra money
    • Investor gets property below market value

Auction Logistics

• Takes place at courthouse steps in each municipality
• Frequency varies by location
  • Texas: Every Tuesday
  • California: Varies by city and county
• Cash requirements
  • Must bring cashier's checks
  • Typical transactions can be $1 million+
• Location-specific rules
  • California now restricts non-primary residence purchases at auction
  • Different rules by state/municipality

Finding Local Resources

• Check with county registrar
• Research local auction schedules
• Understand specific municipal requirements
• Research location-specific lists similar to Roddy's List