Locating pre foreclosures — distressed properties which haven’t yet hit the auction block — in the tight NYC real estate market is not an easy thing.
These properties have a special status because they are not yet foreclosures and cannot be found on regular listing websites. When investors search for pre foreclosures, the first thing they do after locating the property’s address is find the property owner’s contact info and this can all take a lot of time.
To make it easier to visualize the NYC pre foreclosure activity over the last 2 years, we’ve created the map below. The red spots represent the areas with the most pre foreclosure filings, but if you zoom in to parcel level you’ll be able to see the red flags marking each property in pre foreclosure.
The next thing you can do is to click on any highlighted parcel to get more information on the distressed property; a mini-report will pop up displaying valuable data such as:
- Debtor and creditor information;
- Lien type and value;
- Mortgage amount;
- Property type and address;
- Building photos;
- Property characteristics;
- Last sale date & price.
If you’re interested in learning more about pre foreclosures check out our dedicated Lis Pendens page.