Finding Foreclosure Deals

Foreclosure properties are often sold at below market values yet investors should be aware that homes can have liens or mortgages attached to them. Therefore, it is essential that when investors are looking for foreclosure deals, they gather as much information as possible about the property in question.

Bank Websites

To find great deals on foreclosure properties, investors can search bank websites, which list prices, photos and property descriptions, as well as the seller’s contact information. Investors may also want to check the online listings of Fannie Mae and Freddie Mac, which are government agencies that buy mortgages from banks.

Government-Owned Listings

The Department of Housing and Urban Development (HUD) lists its foreclosed homes online as well as through local real estate agents. HUD properties are sold “as is,” and the buyer is responsible for all repairs and renovations.

County’s Offices

Foreclosures are posted and listed on the websites of county offices, where investors can view the street address. County offices often have a designated bid day for foreclosure properties.

Foreclosure Listing Service

Some for profit websites, such as RealtyTrac, provide foreclosure listings for a fee. For example, at RealtyTrac, investors can access and bid on a million nationwide listings a month for $49.95. These site also feature property estimates in accordance with market values in their designated areas.

Real Estate Agents

Real estate agents often have inside knowledge of properties approaching foreclosure since they work directly with banks and mortgage lenders. Investors are advised to network with agents that can keep them abreast of new foreclosures.

Finding Foreclosure Deals

Foreclosure properties are often sold at below market values yet investors should be aware that homes can have liens or mortgages attached to them. Therefore, it is essential that when investors are looking for foreclosure deals, they gather as much information as possible about the property in question.

Bank Websites

To find great deals on foreclosure properties, investors can search bank websites, which list prices, photos and property descriptions, as well as the seller’s contact information. Investors may also want to check the online listings of Fannie Mae and Freddie Mac, which are government agencies that buy mortgages from banks.

Government-Owned Listings

The Department of Housing and Urban Development (HUD) lists its foreclosed homes online as well as through local real estate agents. HUD properties are sold “as is,” and the buyer is responsible for all repairs and renovations.

County’s Offices

Foreclosures are posted and listed on the websites of county offices, where investors can view the street address. County offices often have a designated bid day for foreclosure properties.

Foreclosure Listing Service

Some for profit websites, such as RealtyTrac, provide foreclosure listings for a fee. For example, at RealtyTrac, investors can access and bid on a million nationwide listings a month for $49.95. These site also feature property estimates in accordance with market values in their designated areas.

Real Estate Agents

Real estate agents often have inside knowledge of properties approaching foreclosure since they work directly with banks and mortgage lenders. Investors are advised to network with agents that can keep them abreast of new foreclosures.

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