Foreclosures?
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I found my home through the legal notices in the newspaper. They post foreclosures once or twice a month here in Denver.
Be careful about that scam where they want you to send them money for a list of foreclosures in your area. That's how they get them is out of the paper. Our local Fox station did a scam report on those companies.
Also check out HUD homes you can get some GREAT deals there.
A friend of mine and her husband just bought a HUD. Sure it needs some work, but for what they gave for it, they could gut it and redo it and still come out smelling like a rose!
It depends on where you live. Try your county courthouse...the sherriff's department has to advertise them. So in most places..they will put an add in the local paper and place them on a bullitan board. Then you can go to a tax sale and buy properties. Good Luck.
I usually begin with http://www.hud.gov.
foreclosure.com is good, but costs $40/month. There is a free trial period, however, so if you get your info and cancel quick it won't cost you.
Your local Sheriff's department probably maintains the list for your area and some counties even make this information available on-line.
Personally, I would not recommend buying a foreclosure AT AUCTION because you are not allowed to inspect them first. I am a full time real estate investor (property flipping and rentals) and I no longer buy at auctions for this reason. There cold be major termite damage, foundation damage, rot, rain damage, clouded title, or whatever that can cost you tens of thousands of dollars to fix.
The safer ways to buy foreclosures are:
1) Buy from the bank. They still want to unload the property somewhat cheap, but they have cleared up the title and you can have a home inspector check it out before closing. On foreclosure.com you can also get a list of bank-owned properties in your area with contact info.
2) Contact owners who are in pre-foreclosure and try to strike a deal. This takes persistance because these folks generally aren't answering the phone or the doorbell because they are being hounded by creditors.
Also - the housing market seems to be slowing down and over the next year there may be a lot of motivated sellers who need to escape a rising variable rate loan. There may be some good deals coming that you can just buy the standard/safe way - through a realtor.
Good Luck!
http://www.nohasslebargains.com/loan/for...
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There are any number of pay sites, and in general, the more expensive they are, the faster they get you the information. Working the foreclosure market, fast is more important than cheap.
Or you could just find a buyer'sagent who pays for a list anyway.
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