Lubbock foreclosures are reaching upwards of 100 per month. And, while is is unsettling to see such a high number of Lubbock foreclosures each month, it also presents a great opportunity for investors to purchase Lubbock Foreclosures. There are several ways to purchase foreclosures in lubbock, and it the process follows three basic stages:
Pre-Foreclosure: All Lubbock foreclosure start off in pre-foreclosure. This is when a posting is made at the Lubbock county courthouse notifying the public that a property is in foreclosure. This presents an excellent opportunity for savy Lubbock Foreclosure hunters. These properties can be bought FROM THE OWNER before the lubbock foreclosure reaches auction. You can get a new loan on the property, or take over the existing financing. There are seval lubbock real estate attorneys that work with lubbock foreclosures.
Foreclosure Auction: The monthly Lubbock foreclosure auction is held on the 1st Tuesday of each month at the courthouse steps. Here, you can bid on the Lubbock Foreclosure live and in person. There are about 20 people that show up each month to bid on these properties. Whiles you can land an excellent Lubbock foreclosure by doing this, I recommend getting the property while it's in pre-foreclosure.
Post-Foreclosure (Bank Owned): Some of the lubbock foreclosures do not go at auction if the starting bid is too high. These lubbock foreclosures then become HUD properties listed by Century 21 realtors. You can bid on these lubbock foreclosures by contacting them or using a realtor.
I hope I have helped you better understand how lubbock foreclosures make their way through the system. With that overview, you are much more equiped to start making thousands in the lubbock foreclosures market.
HubCityHouses.com provides up-to-date Lubbock Foreclosure Listings for the lubbock area. In addition to Lubbock Foreclosures, They also provide access to other bargain properties!
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