Well, how do you find the best deals out there on the market right now. Probably the best way is to get with a professional buyer's agent that has experience with short sales and foreclosures.

Short Sale is a situation where the sellers are usually already behind on their payments and have probably stopped paying on their loan. They are on their way to foreclosure and owe more than they can net out of the house after closing costs and penalties. We then have to turn to the bank and offer them a deal that they can't refuse. Let the owner sell the house and have the bank take a loss on the loan so they don't have to take back the house.

Why would a bank agree to this? Because they don't want default loans on their books that severely limit their lending power. It also can cost a bank anywhere from $20,000-$60,000 to send a home through foreclosure. Why not take a portion of that $20,000-$60,000 and put it in your pocket?

You can. There are services in every state that can notify you of defaulted loans (some are better than others). This will allow you to go directly to the owners and see if you can work out a deal with them. This method is for knowledgeable and experienced investors only. You do need to know what you are doing. Or, you can hire an experienced Realtor that knows their stuff. They can typically help you with a home whether it is listed or not.

With so much opportunity out there, make sure that when you buy, you are taking advantage of the great deals that are out there.

Happy House Hunting!!

More info on your stop foreclosure information search:

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