Shop Products
Houzz Logo Print
eagerbeaver_gw

How to find forclosures?

eagerbeaver
13 years ago

Does realtor dot com tell you or do you have to use an agent?

Comments (6)

  • Billl
    13 years ago

    "How to find foreclosures?"

    Swing a dead cat. They are everywhere.

    However, they are not necessarily good deals. If you are looking for a bargain, I'd recommend buying from someone motivated to sell AND aware they are competing with foreclosures. Foreclosures themselves can be a major headache.

  • brickeyee
    13 years ago

    Foreclosure sales are listed in the newspaper before the foreclosure auction for at least a couple of days.

    Look in the classifieds under 'legal notices.'

    It is not for the impatient or faint of heart.

  • logic
    13 years ago

    They are also listed on realtytrac.com..but that requires a membership fee of about $50 per month.

    I don't get why they are not listed on Realtor.com or if they are, identified as such. Trulia does list them..but by town only...as the pull from realtytrac, which only provides the name of the town/city...not an address without a fee.

  • earthworm
    13 years ago

    M and T Bank, with which I do business, has given me a listing, but, as things are in "paperwork and legalities turmoil", its of very little use.
    Mush better to buy at an auction, usually.
    Private is also good, but RE has 99% of the trade - not good.
    When buying anything, the fewer fingers in the pie, the better.

  • brickeyee
    13 years ago

    "Mush better to buy at an auction, usually. "

    Only if you have a lot of cash.

    Many auctions have rules requiring a large certified check ($10,000 to $20,000) to even participate.

    You also may need already lined up financing since no contingencies are allowed.

  • Linda
    13 years ago

    There are plenty of good deals out there. As an agent, people ask all the time, how can I buy a foreclosure? Most people think they are getting a $500k house for 100K. The truth is, they may be priced a little lower, but they are market value based on their condition. Most of the time, foreclosures are in very poor condition, (if they can't pay their mortgage, they can't maintain their house)and also, alot of people are very angry and destroy the house before leaving. What you get is a house that needs a lot of work and special financing. Most first time home buyers can't compete with the competition of a foreclosure. Most of the investors are scooping them up for cash because they can do the work themselves. Why limit yourself to just a foreclosure? There are plenty of good deals out there.