Choosing a Foreclosure Website
How do you know if a foreclosure web site is legitimate?
The foreclosure web site business has a bad rap. There are lots of sexy and super hi-tech foreclosure sites out there, so you have to be careful. The seemingly most high quality, high-tech foreclosure sites sometimes have the crappiest information and the most basic crappy looking site has the best and most current info. Real estate is behind the times with technology and is still making its climb up the internet ladder.
It is virtually impossible to cover every area in detail unless you have someone local to the area following it on a county level in most cases. Almost all nationwide foreclosure web sites have a heavy concentration with REO (Real Estate Owned) and Realtor® properties.
Pre-foreclosure information is everywhere, but accurate foreclosure sale information with sale dates and owners about to lose their properties is not. Most deals go down towards the END of the pre-foreclosure process, not the beginning. A property is a pre-foreclosure until the day it is sold, the sale is it being foreclosed on, and once foreclosed on it is now an REO (Real Estate Owned by the bank or a buyer from the sale)
Here are a few questions that you can ask when researching a foreclosure web site:
1. How often is your information updated?
2. Where do you get your information?
3. Are you just re-selling this information from another provider?
4. Are you local to the area you serve?
5. If I give you a property in foreclosure right now, can you find it for me on your site and tell me about it?
6. What's the story behind the site? Why was it created? By who?
- Last edited October 12 2012
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