Are there any free foreclosure databases out there?
Question:
Answer:
Here's a free nationwide public information site to find foreclosers: http://www.emailforeclosures.com...
Lots of them have a free trial, but this one is not a trial, it actually is free.
Most lenders sell their foreclosures through local real estate agents so working with a Realtor is the best way to buy a foreclosure. Banks don't generally work with buyes direct.The properties will almost always show in your local Realtor MLS. Also, you can do a web search for REO properties. REO is a bank acronym for Real Estate Owned. Some banks have a free list of their properties and from there you will be directed to the listing agent - again a local Realtor - for more information. If you do a little research you can figure out which agents are listing the foreclosure properties in that area and contact them directly. Many of them will put you on an email subscription list or call you when they get new properties that meet your criteria.
No! I see this question about 20 times a week. All foreclosures are at www.HUD.gov
The government lists all of the foreclosures in the country in a database that is updated hourly. All the other sites, including the people who charge money for an otherwise free service, and getting their info from HUD.
I personally have thousands of them in a database. I am willing to share. I would like the opportunity to possibly help you find these propertys. There are databases but there are scams and bad lists. you would most likly spend you time looking for the list rather that searching for a property. I will gladly give you some info for free if you give me the opportinty to help.
As you know there is a lot of hidden information , to tell the truth this is fraud by omission since they are with holding information that is affecting the market by messing with the prices.
This type of fraud is what caused this mess, check out this web site it tell how they made the now crashing houseing bubble.
http://www.breakingbubble.com/
What is needed is a open and publicly assailable" search able web site" That is mandatory and ran by the country assessor office.
Then and only then will you have an open honest and transparent property market.
Realy why should there be any hidden informathion at all do they do this with stock? or other investments.
As a previous responder stated, most foreclosed homes are sold through the MLS and agents; the REOs do not want to work with individuals. As to databases, I maintain one on Las Vegas foreclosures: http://www.iselllvhomes.com/foreclosure.
In Las Vegas there are hundreds of foreclosed homes available at well below market prices in all price ranges and all areas. (Foreclosures are only one way to buy Las Vegas properties at below market prices. See this page for other ways: http://www.iselllvhomes.com/foreclosures... ) This includes million dollar homes too. However, there are some considerations on buying a foreclosed home.
Right of redemption – The original owner may have a right of redemption; an ability to buy the home back within a certain period of time for the price it was sold for. If you added improvements to the home during the time you owned it, they go to the original seller for free; you lose. Be certain to check this out before you buy. In Nevada, this is usually not the case.
Condition vs. price - Most of the foreclosed homes that I have seen need substantial work/investment up front to make them livable. Make certain the purchase price is sufficiently below market that it more than makes up for this cost.
Sold “As is” - Foreclosed homes are sold “As Is, Where Is”. This means you release the seller of all liability no matter what you discover later.
For some people, these considerations are not show-stoppers and foreclosures enable you to buy a home at rock-bottom prices. However, if you are not up to the work and expenses, I've almost always found a similar home, not in foreclosure, at a better price and in better condition. So, you need to work closely with an agent who will find the best deals based on your needs. Also, sometimes even new homes are at better prices than foreclosures. Here are some examples where I have saved people significant money on new homes (http://www.iselllvhomes.com/results.html... ) and the process I use (http://www.iselllvhomes.com/typicalnewho... ).
So, check out foreclosures but don’t assume that foreclosures are necessarily good deal.
Eric Fernwood
Eric@ISellLVHomes.com
http://www.iselllvhomes.com/
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