Pinal County Foreclosures How To
Where to Get Pinal County Foreclosures list
Read Previous post. Why Is this where the opportunity is? Well if you are in the market for a deal and have a little cash Pinal County Foreclosures can be a great investment with returns of in some cases 150%. How is the opening bid chosen? The bank sets the price at whatever there rock bottom price for that property may be and let the investors bid up the price and hopefully they can recapture that inittial investment. If the property is posponed you wait untill another day. If no one bids against you, you buy the property at the opening bid.
Here is what you need to know for Pinal County Foreclosures.
1. The county requires a earnest money deposit of $10,000 for all Pinal County Foreclosures before you bid.
2. If you receive the winning bid the $10,000 is applied to the purchase price and the remainder of the funds are due within 24 hours or your $10,000 is forfeited.
3. The deed is recorded and mailed to you and you own the house.
What are the potential risks with Pinal County Foreclosures?
1. You need to make sure you don’t bid on a second mortgage or home equity line unless you want to buy the first mortgage as well.
2. Once you own the house if it is occupied you may need to honor the lease or evict the homeowner.
3. With Pinal County Foreclosures you don’t have access to the interior of the house before the auction or at any other time so the condition of the interior could be in bad shape.
4. There is not a lot of time for financing. 24 hours is not enough time to get a loan on Pinal County Foreclosures, except maybe a hard money loan with high interest.
4. If you are bidding on a first mortgage you don’t need to worry about other liens as they will be wiped out when your bid is accepted.
Because of these potentially huge risk factors Pinal County foreclosures can scare away the average buyer however it can also leave great deals untouched.
Due to the large risk and large earnest money requirements with Pinal County Foreclosures we do not provide access to the Foreclosure list to the general public, however if you are interested in getting a Pinal County Foreclosure or a Maricopa County Foreclosure click here or contact us to get you started. We provide a bid service that allows you to bid on Pinal County Foreclosures without running down to the courthouse. Pinal County Foreclosures are less popular than Maricopa County Foreclosures creating deals.