Where can i get listings for foreclosure homes other than internet & why is it hard to fine genuine homes?
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I bought a foreclosed home last year. We found it in the MLS, just like the other homes. Our Realtor showed it to us. There was a bunch of extra paperwork. The home had been vacant for 2 years, and was not well maintained prior to that. It took 6 weeks from the bank accepting our offer to get a closing on a cash deal. When we got the power turned on the fridge, furnace, and hot water heater did not work. We are still renovating, but it will be nice one day. My best advice to you is to locate a Realtor. Happy house hunting!
you should look in the newspaper and try to find the best foreclosure homes that we had heard of or never heard of .
Genuine homes are hard to find because rich people are taking them all for themselves and are not leaving them to others like you and me .
Have you tried contacting local banks in your area that offer mortgages? Many local banks and credit unions have departments set up for foreclosures. Just remember that the bank is on the hook for the mortgage and doesn't want to lose any money on the deal.
Getting a "list" of foreclosed homes is not easy. Many of the companies who offer lists of foreclosed home are scams. When a house is foreclosed on, a public annoucement is usually required to be posted in the newspaper. This does not mean that it's up for sale yet. But it will give you a heads up on what is being foreclosed on and how much the bank needs to sell it for to settle its debt.
Commonly, the banks will use a real estate agent to sell all their foreclosed properties. Real estate agents usually have the upper hand by being able to check new listings on the MLS everyday. I would suggest that if you are serious about this, get your real estate license. Otherwise, find the realtor(s) that deal with a lot of foreclosed homes and form a business relationship with them. They will probably give you call before a property hits the market when it matches what you are looking for.
You buy a foreclosed house the same way you buy any other house. However, be very careful that the foreclosure is cleared off the title before you take title to the house or it could be a nightmare for you when you sell!!
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