Profile picture for HarrisShoromeButts

How do I find foreclosures

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  • October 12 2013 - US
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Answers (4)

Profile picture for Outer Banks N C
They publish the auctions in newspapers locally before the auction on the courthouse steps.
  • October 12 2013
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Profile picture for Ofe Polack

Contact a few buyer agents they can help you.  Or look the m up online
  • October 12 2013
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Profile picture for Dunes ..
Depends on what a person is thinking Foreclosures are or auctions are or REO or Gov, or or ;)

If you are interested in beginning to learn about these type of things then here are some pretty good places to start
All County or City or State Web sites...All Free...All public records
Public Records Directory...Foreclosures and Tax Lien Sales

Check these also if you want info on REO's or Gov. Foreclosures
Many Banks have created Sites for the Public to use (For Free) to view and find Information about the Properties they have Listed for Sale, Programs
Sites Like..Bank of America...Wells Fargo...CitiMortgage

You can find links to Bank sites here...Link

The Fed Gov has Sites for its Properties for sale/Info on programs/loans
HUD Homes...HomePath.com (Fannie Mae)...HomeSteps (Freddie Mac)

You can find the links to Gov sites here...Link

For more info/learning
You can also look at Auction Sites (Check-read carefully/Due Diligence) 
Williams & Williams

Bid4Assets

Auction.com

Good Hunting
  • October 12 2013
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There are two types of situations in which someone would consider a property a "foreclosure" - they are...

1. REO property - this stands for Real Estate Owned. This is when a bank has actually foreclosed on a property & taken ownership of it. When this happens the property gets listed on MLS by what's called an "REO Broker." Every single bank/lender has REO brokers that list their properties. They all go on MLS & they all sell for full market value. 

2. Pre-foreclosure properties - these are properties that are in default. The current owner has stopped paying their mortgage all together, or is simply a month or two late. If you are trying to purchase a property in this situation, then you need to attempt a "short sale" in most cases. The reason for this is that many homes that recently were, and currently are, in default are underwater. 

If you are seeking out foreclosures in an attempt to buy a property under market value, then you are setting yourself up for disappointment. The only time you can purchase a property for less than it's worth is when the seller is completely uninformed of the actual value (i.e. doesn't have the internet) and you happen to find the property privately - meaning it can't be on MLS. 

If the property is listed on MLS by an agent then you are going to pay market value - it doesn't matter if we're in a boom or bust. You will pay market value. 

Contact me for more info






  • October 13 2013
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