Profile picture for MWJadro

How do I buy a house in foreclosure? Who do I contact?

  • November 05 2010 - Chatham Township
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Answers (8)

First I would do a little research, and get familiarized with the process, then I would get in touch with a good agent in your area, they should have access to lists of foreclosures in the area, plus the knowledge to steer you in the right direction through the process.
  • May 20 2012
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Profile picture for TomBJF
The lender that initiated the foreclosure will do so through an attorney. The attorney will be listed with the foreclosure filings. 

If you're interested in buying the property before it goes to auction that is the person you need to contact. 

If it is going to auction it's a good idea to contact the attorney and see if the lender has set a strike price, the minimum they'll accept at auction, so you have some idea what they're looking for if you decide to wait for the auction.
  • May 19 2012
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Greetings MWJadro,

They are several different scenarios when talking about homes currently in "foreclosure" status.  The first question is, "what is the history of the subject property?"  If you know a Realtor that has experience with foreclosures that you trust, let that Realtor find out all the answers you would need to make an informed logical decision.  After all, a buyer agent will only get paid if the transaction closes!  Having a good Realtor on your side should give you leverage and allow you to make an offer on the property with confidence.

Good luck!

Ozzie [contact info removed by moderator]
  • November 22 2010
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ask around for a recommended agent... best place to start.
  • November 10 2010
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Home search starts with a reputable Realtor I agree. First though I would connect myself with a lender who can tell me exactly how much it will cost me to buy a foreclosure and explain how much you need in terms of  cash.
  • November 08 2010
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Profile picture for ABBAUSA
The federal government has just recently restated it's position on foreclosures. Full speed ahead is now the order, but ready for a glut.

Good Luck!

James Callas - Realtor®
  • November 06 2010
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We have a serious problem in the housing and mortgage market.  Nearly all if not all short sales and foreclosures being sold will result in an invalid contract as the lender no longer owns the note and does not have the legal authority to be in the negotiations or decision.  You could end up losing the home later  even if you have already purchased it.  Any state attorney general will tell you that this is a possibility.
  • November 06 2010
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Profile picture for the_country_hick
Any realtor can show you any house for sale on the MLS including foreclosures.

If you do not see an address listed on a foreclosure and it asks you to sign up for more information ignore the listing. It is almost certainly not even for sale and certainly not at the price shown. Those sites show pre-foreclosures and many of them will never be for sale. By showing exceptionally low prices they suck you i and can charge your credit card over and over even after being told to stop.
  • November 05 2010
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