The following is an excerpt from my real estate book, A to Z of Foreclosures-Real Estate Worth Millions Acquired with $101.This book is available on Amazon.com and my website http://drsinghbooks.com
CHAPTER III -2 Analyzing Prospective Properties
The foreclosure investor should not simply arrive at a foreclosure auction and start bidding. That is a road filled with potholes. The investor must conduct an appropriate level of due diligence on the properties the investor is considering.
Due diligence is the act of examining all relevant aspects of a property to ferret out information necessary to make a decision to make an offer, settle on a specific price or agree to other terms of the deal. Relevant aspects vary depending on the type of property. A foreclosure investor usually does not have leases to review when considering single family residences but will when he is considering an office building.
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