You may also want to check with a real estate attorney or other legal authority to discuss the potential risks of executing a Rent-to-Own agreement with the current Pre-foreclosure owner. Alternatively, the homeowner might be willing to work with you on a monthly amount that can help them avoid the foreclosure process. To make a reasonable offer for this home, it’s advisable to use either the loan balance or EMV amount in conjunction with local sale price comparables to determine an appropriate offer. Instead, you’ll find either the original loan balance or an Estimated Market Value (EMV) provided. Since Pre-Foreclosure properties are not formally listed for sale, there is no asking price available. However, instead of going through a potentially lengthy foreclosure process, which could take up to 18 months, the homeowner may be open to considering a Rent-to-Own option that covers their mortgage. It is currently in an initial default stage in Highland Lakes, NJ, commonly referred to as Pre-Foreclosure, indicating that the homeowner has missed at least one payment and is considered delinquent. Please take note that this property in Highland Lakes, New Jersey is not listed as a Rent-to-Own (RTO) opportunity. This listing located at Lee Dr in Highland Lakes, NJ could be available as a Rent-to-Own listing as well, additional diligence will be required from the buyer to determine if this listing can be approved as a RTO.
The property located at Lee Dr in Highland Lakes, NJ is listed as a Preforeclosure
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