If you are in the market for a foreclosure you should know the difference between an actual foreclosure and a Pre-Foreclosure. Actual foreclosures are homes that have actually been foreclosed on and are actually for sale. Pre-Foreclosures are homes that may have owners that are behind on their mortgage but who are working on a plan to catch up on their mortgage and get caught up on their payments. If you are a home buyer it is important to differentiate the difference so that you don’t shop for what is not for sale. If you are a real estate professional it is incumbent on you to not allow your clients to fall in love with a home they cannot buy.
The reason most websites provide Pre-foreclosures is that there is no cost for the content and the idea of providing a secret glimpse into a market is too compelling not to. The only losers in this are the unfortunate home buyers that feel that they are getting ahead of the curve by looking into pre foreclosures when the truth is that no one knows the price even if the house were to go to foreclosure and get put on the market. Banks do not commonly sell a home for what is owed on it. They try to sell the home for what it is worth on the market.
Pre-Foreclosures also represent an unsettling prospect of a potential home buyer walking up to the front door of a home and knocking. The owner who has been the victim of some degree of misfortune comes to the door. The interested buyer asks politely if the owner is interested in selling and is met with a fierce and incalculable amount of hostility. This is because the owner doesn’t want to sell. The owner may not have wanted to lose their job or their spouse or their ability to provide shelter to their family. But the innocent perspective buyer doesn’t know any of this because the owner didn’t ask to have their property listed on a website that advertises their misfortune.
I remember growing up as a minority and not an extremely welcome one. The concept of being first at anything was beyond my capacity to understand. People not liking you or even hating you because of the color of your skin still doesn’t sit in my brain with any degree of stability or firmness. The hate on site concept seemed like a lot of people being told who or how to hate without any thought toward why we should hate.
I think hate is good. To hate pain. To hate the pain that others cause. To hate war. These are all things that we should hate in order to reach for things that we can love.