What is a ZILLOW Pre Foreclosure?
[VIDEO TRANSCRIPT] Okay, follow me. So you're in the market for a new house, you're in front of your computer and you're browsing Zillow, and, all of the sudden, you see this brand-new listing that you've never seen before. And in great, big letters, it says, "Pre-Foreclosure." So you get all excited because you see the word "foreclosure," and you click on the link, but there's no pricing information.
So you get on your phone as quick as you can, and you call your realtor, and you say, "Jason, I just found this new listing on Zillow. What can you tell me about it?" And that's when I say, "Ryan, first of all, calm down. And second of all, I have no idea what you're talking about." I'm calling this video "Everything You'll Ever Need to Know About Zillow Pre-Foreclosures in 90 Seconds."
Zillow Pre Foreclosures Are Not For Sale
Listen, Zillow pre-foreclosures are not for sale, at least not on the open market. All that that means is that the current homeowner has been served with what's called a notice of default notifying them of the bank's intentions to begin foreclosure proceedings, usually because of late payments, and it's just the beginning of a process that can literally take years. And the current homeowner still has the opportunity to make it right by catching up on their payments. So do yourself a favor and save yourself some headache and some heartache, and when you see Zillow pre-foreclosures, just ignore them.
My name is Jason Patton. I'm the listing specialist and broker associate with Berkshire Hathaway HomeServices, the Julie Hall Group. We buy and sell houses in Kosciusko and all the surrounding counties. We specialize in Warsaw, Indiana waterfront homes for sale, nd I might be a little bit biased, but I like to think we're the best at what we do.
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