Profile picture for tickels

How can I get a list of bank foreclosures so Ican be on equel ground w/the investors

I would like to get a "heads up" before the foreclosures hit the listings.  we are finding in our search for homes, that there are offers in before we even get a chance to see the homes
  • June 09 2009 - Maricopa
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Answers (12)

I like realtytrac.com.  Ask for a discount.
  • December 20 2011
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Hopefully you are working with a good realtor who has you set up on an automated search notifying you when homes meeting your criteria become available.  If not, call me.  Many of the banks stipulate that the first 7-15 days a property is listed, only owner occupant offers will be accepted in order to allow home owners to get first chance to bid.  
There really is no way to get a heads up on new REOs that are about to hit the market.  When banks assign an asset to an agent, it can take days or weeks before it actually hits the market.  Some agents are able to do pre-marketing and others aren't able to do so because the property is still occupied by the prior owners/occupants.  
  • December 20 2011
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Profile picture for James Sanson
Nobody per say has a magic list. The key if you are not a cash buying investor you need to be ready to jump in this market. If you are cash buying investor then you need to look into trustee sale auctions perhaps. Once a house hits the MLS you will need to be quick. However, be wise, because there will be another home, so do not make a decision based on panic, but do not drag your feet on something you love either as it will be gone.
  • December 11 2011
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an agent with experience in todays market should be able to help you find all the info and help you get those great deals , after all you will only find what he is willing to show you!! 
  • October 11 2011
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Profile picture for Dunes....
Look both ways before crossing the street
  • August 20 2011
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work with a good real estate agent...best of luck
  • August 20 2011
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Profile picture for Dunes....
2009?  Explains the cobwebs
  • August 20 2011
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Profile picture for inactiveaccount
Hi Tickels,

I hear this concern a lot from buyers out there looking to get the best deals on foreclosures. It sounds to me like you are looking at homes on the MLS, and then by the time you decide to take a look, they are under offer, am I right?

If that's the case, it would appear that the other people writing offers before you are also getting their info via the MLS (i.e. as opposed to direct from the bank or asset management company, or at a bulk foreclosure auction such as REDC). Plus, they are likely to be working closely with an excellent and aggressive local Realtor who is really on top of listings as soon as they hit the market, checking them daily and who has good relations with other listing agents in the area.

If you have a good Realtor (I mean a *really* good one) who knows you are serious about buying (by which I mean, you need to be pre-qualified without contingencies, and/ or have proof of funds to hand, and have told your Realtor you mean business, and you need to have a good idea of what you want) then you should be on an equal footing with the other 'investors' who seem to be beating you to the offer. The reality of the market in parts of Arizona now is that it is no longer a buyer's market. The best homes will attract multiple offers. To compete, you need to be ready to jump, and you need to be packaged up as a solid buyer whose offer the bank will take.

You can sometimes get a bit of a headstart on your own on foreclosure websites such as www.homepath.com, www.homesteps.com, and www.hudhomestore.com, but mostly you won't be able to bid on these homes until they hit the MLS anyway. So, get a good agent and be prepared to write a solid offer and pay fair market value. Because today, fair market value in Arizona is still in the basement. Happy home hunting :)

Emma Beyer
RE/MAX Casa Grande
  • August 20 2011
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Profile picture for sunnyview
FreForclosureSearch, 
I believe that you posting your commercial website link in 9 posts in a row would be considered spam under Zillow's policy here. Your site has a free trial offered in exchange for full credit card information with automatic billing, but it is a subscription site that does not say how much it costs once the trial is over. Personally, I do not appreciate that type of internet marketing. Zillow does sell advertising so if your want to post your pay site I am sure they would be happy to help you here. Hope the links are useful.
  • September 20 2009
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Profile picture for MJCLEAN
You will have to pay for a premium foreclosure listing service. That is the only way to get access to the enormous number of privately aggregated foreclosure listings. These listing can not be found on the mls, and with a top 2 ranking listing site, their listings are updated daily.
  • June 10 2009
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There are places that offer a list of REO homes for a price.  Some of these are already out dated by the time they are printed. You can see all the current bank owned/foreclosed properties that are available on the Arizona Multiple Listing Service buy clicking on [link removed by moderator].
Compliments of [content removed by moderator]
  • June 10 2009
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Profile picture for real estate mike
Pay to play that's the way! No really, some foreclosure websites have free trials then you gotta pay. One way is to personally know a bank manager they have the reo's which aren't on the market yet, which you seek. In my experience, on nice house foreclosures the offers pile in quickly so you need an agent who's on top of their game. The ones that need work take more time to sell in general.
  • June 09 2009
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