What is the best way to get lists of commercial preforeclosures in a specific area or zip code

In Selling Property - Asked by Kari B. - Jan 18, 2010
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Answer(s)

Paul C.
Broker/Agent
Henderson, NV

If you are an investor, get an agent. If you are an agent, your favorite title company can provide Notice of Default Lists, as well as Pending Sale lists.

Jan 18, 2010
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Chris S.
Broker/Agent
Coeur D'alene, ID

Pretty darn tough. On commercial the notice of default is pretty far into the process and by then, there is nothing you can do but wait until the bank owns it. If the owner files bankruptcy, then paln to wait another 6 to 12 months while the courts make a ruling.
Otherwise, get with a good broker that has the inside scoop on properties that interest you.

Jan 22, 2010
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Rising P.
Owner/Investor
Bolingbrook, IL

Also, by law, in most states, the foreclosing bank is required to notify the current tenants about the foreclosure/bank acquisition. So talk to your friends who are leasing properties in and around the area you are looking for. I know my close friends got a steal deal ($1.6M property for $1.1M) because of this insight.

Jan 31, 2010
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Gregory G.
Broker/Agent
San Francisco, CA

I can send you a list if you provide a zip code.
Gregory Garver - Commercial Real Estate Broker
Broker License# 01716531
(415)225-9894
gregory.garver@gmail.com

Mar 5, 2010
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