IF YOU ATTEND A “GET RICH IN REAL ESTATE” SEMINAR TODAY, chances are good it will discuss:
- foreclosures and preforeclosures
- “probate properties”
- “repo homes”
- “ugly houses”
- or some variant thereof
THE NUMBER OF AVAILABLE FORECLOSURE PROPERTIES IS ON THE RISE and the popularity of buying foreclosure real estate remains high.
THE FOCUS IN FORECLOSURES is on getting early, “inside track” information on properties available for purchase. Oftentimes, this requires sifting through public records called “lis pendings” at county government offices.
WHY SPEND WEEKS PORING OVER PUBLIC RECORDS at county offices when the sources below do much of the hard work for you?
BELOW YOU’LL FIND 23 SOURCES* FOR inexpensive foreclosure real estate. Most provide searchable foreclosure and preforeclosure listings by state, as well as auctions, short sales, and foreclosure how-to information.
WHEN YOU LOCATE THE BEST cheap foreclosure properties, you can grab and flip them for a profit before anyone else gets their hands on them. To make even higher profits, buyers and flippers may spruce up or renovate the properties before selling.
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 recoup unpaid loan money.
PREPARE AN INSPECTION CHECKLIST PRIOR TO VISITING THE PROPERTIES that interest you. Pay special attention to structures like the foundation and roof when determining each home’s condition and value. Popular Mechanics provides a DIY Home Inspector Checklist at http://www.popularmechanics.com/home/improvement/interior/4271761.
FORECLOSURE RULES VARY from one state to another. For example, 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, single-family homes that are 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 1.2 million foreclosure property listings and 4.2 million for sale and recently sold homes nationwide. “Your source for bank foreclosed listings … current neighborhood information, and additional research to aid you in your home buying process.
1095 Broken Sound Pkwy. NW, Suite 200
Boca Raton, FL 33487
Billing issues: 1-800-535-6945
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.”
12667 Alcosta Blvd., Suite 200
San Ramon, CA 94583
Bank Foreclosures Sale
1800 Sans Souci Blvd, 136
North Miami, FL 33181
Tahoe Wheaton, Inc.
4112 Crestline Ave
Fair Oaks, CA 95628
Toll Free: (800) 310-7730
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.”
“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.”
Easy-to-search, free foreclosure 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.
“Updated lists of bank- and government-owned foreclosure properties – Step-by-step foreclosure process.”
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.”
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. Save up to 50% on massively discounted homes.”
Billing issues: 1 888 596 9279
Fax: 718 732 2676
Over 100,000 nationwide listings of foreclosures, preforeclosures, bank foreclosures and government foreclosures. Updated daily.
Provide large nationwide foreclosure listings.
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.”
This article originally appeared in the Money Watch Bulletin, published by International Wealth Success Inc.
*Links are provided for the information and convenience of readers. Author and publisher are not affiliated with listings. No endorsements are made or implied.