Anyone looking to buy their first home or invest in real estate should consider buying a foreclosure. Foreclosure listings provide detailed information on homes and buildings that are in or prior to foreclosure status. These listings typically include foreclosures from all sources, such as banks and even the government. All listings are not the same. There are companies that are charging people for foreclosure listings that are not accurate or up to date. To ensure you receive the most up-to-date foreclosure lists, there are a variety of resources to consider.
One of the best places to find up-to-date and accurate information on local foreclosures is through your local county clerk’s office. A foreclosure record is a public record and can be evaluated simply by going to your local county courthouse. When you get there, be prepared to do some searching. You may find it helpful to look up the Notice of Breach. This will narrow down your search for foreclosed homes by giving you something to look for. This is one of the most accurate ways to get information on foreclosed property. Plus, if you’re willing to invest some time and effort, you’ll be able to gather as much information about foreclosed property as possible, all for free.
Another way to go when shopping for a foreclosure is through your local newspaper or an online classified. Many local newspapers publish information about foreclosed homes in the classified or real estate section of the newspaper. Typically, the weekend editions of most newspapers have the most foreclosure listings. A complete list of upcoming property auctions in the area is on the auction page. Sometimes even photos of the properties are included. When looking at these foreclosure listings in the newspaper, it’s best to read the fine print and there is almost always fine print. The fine print will basically provide information about the time, date, and location of the property’s auction. In addition, there will be important details about how much is needed as a down payment on the property and how soon the remaining balance will be due, either in cash or through personal financing. Your local newspaper is an excellent, reliable source of foreclosure listings.
Finally, you may want to seek the advice of a real estate agent when looking at foreclosed properties. Real estate agents are trained to find the types of homes a person wants. You need to do some research, either online or by contacting a national organization like the National Association of Realtors to locate a realtor who specializes in locating and selling foreclosed properties. There are real estate agents who do this and it can be a great advantage if you are unsure how to navigate through a repossessed property purchase. The only stipulation about using a real estate agent is that this is always a fee of some kind, but paying this fee may be worth it if you can find the property you want.
If you are considering buying a foreclosure, there are a number of reliable resources you can use to search for foreclosed properties. By doing proactive searches, searching online, etc., you will have an advantage over everyone else who wants to take advantage of the market. You just might be able to get the property deal of a lifetime!
