If you attend a “get rich in real estate” seminar today, chances are good it will cover one or more of these topics, all related to foreclosured properties:
foreclosures and preforeclosures
real estate owned (REO) / bank-owned properties
THE KEY TO FINDING GREAT FORECLOSURE real estate deals is to get early, inside-track information on properties available for purchase. When you can find such properties before anyone else does, you can get the best deals available for your clients.
THE TROUBLE WITH FINDING GREAT FORECLOSURE and pre-foreclosure deals is that it can be a long and tedious process, requiring you to sift through thousands of public records at county government offices. The main alternative is to pay for lists of foreclosed properties. But this can get very expensive very fast.
WHY SPEND MONTHS PORING OVER PUBLIC RECORDS at government offices, or paying for lists, when you can find sources that will do much of the hard work for you at little or no cost? Below you’ll find 20 sources of foreclosure and preforeclosure listings that can put you on the fast track to success.
MOST OF THESE SOURCES GIVE YOU searchable foreclosure and preforeclosure listings by state, as well as auctions, short sales, and how-to information.
THE NUMBER OF FORECLOSURES has decreased in recent years, but is still very high, with millions of foreclosure filings yearly. Many foreclosures are bank-owned homes—residential houses that have been taken over by the bank after completing the foreclosure process. Lenders take over foreclosures to try to get back unpaid loan money.
WHEN YOU LOCATE THE BEST cheap foreclosure properties, you or your clients can grab and sell them for a profit before anyone else gets their hands on them. Many buyers rehab the properties before selling for higher profits.
VISIT THE SOURCES below and get to know their foreclosure property listings. Many allow you to sort listings by price, location, date posted, and other criteria. Focus on geographic areas you can visit easily. Make sure that you’re looking at the most up-to-date listings.
MAKE A CHECKLIST TO INSPECT THE PROPERTIES that interest you. If necessary, contact the sources for additional details.
FORECLOSURE RULES VARY from one state to another. States can choose to allow either judicial or non-judicial foreclosure actions. Judicial foreclosures usually take longer than non-judicial foreclosures. A state-by-state listing can be found at www.edwardringwald.com/pdf/JudicialAndNonJudicialStates.pdf.
SOURCES OF FORECLOSURE LISTINGS
HUD Home Store
451 7th Street S.W.,
Washington, DC 20410,
Nationwide foreclosure listings, including HUD Dollar Homes, special programs, lender locator, handbooks, forms and publications. Lists single-family homes acquired by the Federal Housing Administration (FHA) as a result of foreclosure.
Fannie Mae Home Path
3900 Wisconsin Avenue, NW
Washington, DC 20016-2892
1 (800) 732-6643
“HomePath.com is the Official foreclosure website owned by Fannie Mae … You can search thousands of move-in ready foreclosed properties, access handy tools and resources, and get help with the buying process.”
Bank of America Foreclosure
100 Tryon St.
Charlotte NC 2825
“Browse foreclosure listings at the Bank of America Real Estate Center and find a property that may suit your budget and lifestyle. Bank of America also offers loans special to foreclosures in addition to mortgages for traditional properties.”
Zillow Foreclosure Center
Russell Investment Center
1301 Second Avenue, Floor 31,
Seattle, WA 98101
“Get access to pre-foreclosures, foreclosure auctions and bank-owned properties in your area. Find home values and listings.”
Renwood RealtyTrac LLC
One Venture Plaza, Suite 300
Irvine CA 92618
Provides over 1 million foreclosure property listings. “Your source for bank foreclosed listings … current neighborhood information, and additional research to aid you in your home buying process.”
National Association of Realtors
430 N. Michigan Avenue
Chicago, IL 60611-4087
“Realtor.com provides foreclosure listings for short sales and bank-owned homes that you can view right from your computer. Simply enter a location in our search bar. Realtor.com® does the rest by returning the foreclosed condos, townhomes, and single-family homes that match your criteria.”
1095 Broken Sound Pkwy. NW, Suite 200
Boca Raton, FL 33487
Customer service: 561-981-5337
Nearly 3 million listings. “Save 30 – 40% on bank-owned homes … Foreclosure.com is the first to list the newest and best foreclosure properties, which are available for drastically-reduced wholesale prices.”
Tahoe Wheaton, Inc.
4112 Crestline Ave
Fair Oaks, CA 95628
Fax: (916) 860-1123
“The Only Foreclosure Site Built by Foreclosure Investors, for Foreclosure Home Investors … We are the web’s oldest, most reliable and accurate source of foreclosure properties available to real estate investors.”
Provides large nationwide foreclosure listings.
One of the largest real estate websites, with millions of listings. Visit Trulia and choose “Foreclosures” from the dropdown Buy menu.
MSN Real Estate
“MSN Real Estate provides foreclosure listings, tips and advice on buying foreclosed properties and, for troubled homeowners, how to avoid foreclosure. Local Foreclosure Properties, Listings & Help.”
Easy-to-search, free foreclosure listings.
12667 Alcosta Blvd., Suite 200
San Ramon, CA 94583
“Your source for BankForeclosedListings.com and MLS home listings, current neighborhood information, and additional research.”
Bank Foreclosures Sale
1800 Sans Souci Blvd, 136
North Miami, FL 33181
“Our database contains over two million foreclosure homes, including bank foreclosures, government foreclosures like VA homes and HUD homes, distressed properties and commercial foreclosure homes for sale all across the nation.”
“A leading Bank REO Asset Management & Marketing company providing up to date information on: Nationwide Pre-Foreclosure, Foreclosure & Bank REO Property Listings, Bank REO Auctions & Short Sale Listings.”
Government Repo Homes
Lists over 100,000 bank-owned foreclosure and “repo” homes that have have been repossessed by the bank after they are foreclosed.
ACR Systems Inc.
“Updated lists of bank- and government-owned foreclosure properties – Step-by-step foreclosure process.”
MLS foreclosure listings.
Foreclosure Data Online
98-19 32 Ave
East Elmhurst NY 11369
Fax: 718 732 2676
Billing inquiries only: 1-888-596-9279
“Fresh” nationwide lists of over 2 million foreclosed homes, directly from banks, with pictures, details and maps.
19731 NE 10th place
Miami FL 33179
Billing inquiries only: 1-888-596-9279
Lists 1.5 million bank-owned, foreclosed and preforeclosed homes for sale. Neighborhood and school profiles. Free eBook about foreclosure investment.
5951 Encina Rd. Suite 208
Goleta, CA 93117
Lists foreclosures, short sales, auction sales and HUD homes. “Save up to 50% on great real estate bargains.”
65 Old Solomons Island Rd
Annapolis MD 21401
800-880-8584 and 877-888-1673
“Free Foreclosure Listings right at your fingertips … We have compiled all of the foreclosures on the market in an easy to search database. Save time and money using USHUD.com to start your search, find a foreclosure, get in contact with a licensed real estate agent and mortgage lender that can help you purchase your next property.
“The #1 discount marketplace for Foreclosure Real Estate. We help you find foreclosure deals nationwide.”
Billing issues: 1 888 596 9279
Fax: 718 732 2676
Over 100,000 nationwide listings of foreclosures, preforeclosures, bank and government foreclosures.
“Absolutely free foreclosure listings.”
START MAKING YOUR FORTUNE WITH FORECLOSED PROPERTIES TODAY!