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Foreclosures Home

Foreclosure Center

Pre-Foreclosures

Closing the Pre-Foreclosure Deal

Search nearly 650,000 Foreclosure and Bank-Owned properties. More than 1 million total properties including For Sale by Owner, New Construction, Resale, and Home Auctions!

Time to put the agreement in writing

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Closing the Deal

Once you’ve arrived at an agreement with the owner in default, the foreclosing lender and any other lien holders, you can put the agreement in writing. If you’re not familiar with how to draw up a purchase agreement, you should have a local real estate agent or real estate attorney help. See our Before You Buy section for information about how to contact a local real estate agent.

Any purchase agreement should make closing the deal contingent on a full title search conducted by a title company or attorney. The purchase agreement should also allow for a professional inspection of the property before closing the deal.

An escrow company, who acts as a third party, can manage the transfer of money and property ownership. Assuming that you have your financing secured (see Before You Buy section), this should be a fairly smooth process.

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