Here are a few great tips to get the most out of buying foreclosure property:

Do your homework.

Begin by searching for a current list of foreclosure listings. Take a look at the Brown County Sheriff's Department where you will find all the current foreclosure listings posted or you can get a detailed list onliine here: Green Bay Foreclosures.

Once you have your list, begin by doing some research to see what is owed on the property, additional mortgages, liens and back taxes. You'll need to know this information to be sure you make an offer that will cover the costs to not only buy the property but bring it current.

Be proactive

Look for homeowners that are in danger of being foreclosed on. Run local ads such as "I buy houses for cash" and check the local public records for divorce, bankruptcy and foreclosure filings. Get phone numbers and begin calling to offer your assistance.

Be sensitive to the needs of the home owner.

They are normally very stressed and you have to be able to assure them you are there to help. Go over where they are at in the foreclsoure process and work with them to creat a "subject to" offer that you can present to their lender to stop the foreclosure and transfer the property.

If you are not taking over the owner's existing financing, be sure that you are pre-approved before approaching their lender. They'll want to see that you have the funding in place and can close quickly before seriously considering your offer.

Before you make bids on any foreclosure property, research it thoroughly.

Determine the market value of comparable properties in the area; thoroughly inspect each property and determine the costs of repairs to bring the property up to speed. Also consider adding on the costs to close and consider adding funds to help the current owner relocate. By doing so, you'll reduce the risk that they'll run down the property before you complete the sale.

For more information on Green Bay foreclosures or other real estate guidelines, be sure to visit Green Bay homes for sale

About the author: Robert Allen has been successfully assisting residential home buyers and sellers in Green Bay for over 25 years. To speak with Robert about your real estate needs or questions, visit Green Bay Real Estate or call Robert directly at 920-562-0672.

Can’t wait to see what’s available? Just click here: Green Bay homes for sale