what is the best way to find foreclosured homes?
I would like to find a home listed as a foreclosure home without going through some scam on the computer. Does one just go to the bank or a realestate agent and ask for a listing of these types of homes?
There is typically a local newspaper that runs all the legal notices of the homes that are foreclosing and will be sold at public auction on the courthouse steps. Talk to someone at the courthouse prior to the sale to see what they require, and see if they have done any records search to determine if the property has any other liens besides the defaulted mortgage.
You can also contact a Realtor to get a listing of foreclosed or REO (real estate owned – bank owned properties that did not sell on the courthouse steps) properties that are available for sale in your area. This might be a better option if you are not familiar with contracts and negotiating with banks.
Good luck!
April 5th, 2010 at 7:04 pm
go to the county records office and ask when the auctions are. All foreclosed homes are auctioned at a public location. in los angeles it’s the norwalk records building. sometimes there is no one there to bid and you can get a house for real cheap.
References :
April 5th, 2010 at 7:11 pm
There is typically a local newspaper that runs all the legal notices of the homes that are foreclosing and will be sold at public auction on the courthouse steps. Talk to someone at the courthouse prior to the sale to see what they require, and see if they have done any records search to determine if the property has any other liens besides the defaulted mortgage.
You can also contact a Realtor to get a listing of foreclosed or REO (real estate owned – bank owned properties that did not sell on the courthouse steps) properties that are available for sale in your area. This might be a better option if you are not familiar with contracts and negotiating with banks.
Good luck!
References :
Realtor and private investor in Kansas City