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Thank you for asking the question: First is to find an agent that is specializing in your area, have money in the bank or get pre-approved with the lender, and understand the buying process.. Good luck. Let me know if I could help with my 15 yrs of Real Estate, REO, Foreclosure... experience... Thank you. TV :D
Hi, There is no need to sign up for a foreclosure service. Your Realtor can provide all the info you can get from any of the services for free and usually more current than they can. I am part of a group teaching a foreclosure home class on the campus of the college of Lake county in grayslake and you are more than welcome to sign up for the free tickets. go to foreclosurehomeclass dot com for more info.
Are you looking for a house which a lender has already foreclosed upon and is now trying to sell and get off the banks balance sheet(REO);or a distressed property in pre-foreclosure where the owner is trying to avoid foreclosure by finding a qualified buyer and getting the lender to accept a short sale? Short sales generally yield the buyer the most house for their investment dollar provided the buyer has the time to complete a short sale process. Whether you are an investor or a buyer looking for a house to make a home, I would advise that you interview couple of agents who understand the market and then work with one exclusively. Avoid firms that want to sell you their foreclosure list as the data is often not up to date. A sharp agent reviews the market everyday, knows local subdivisions, and works with home inspectors, lenders and attorneys. At your convienence I would be happy to speak, e-mail or text with you to answer any and all your questions. Feel free to contact me at any time. Bill Swenson, Broker & MBA-Finance.
Forclosure properties are listed on many sites, if you are looking for specific ones, you could google Homesteps or homepath, very user friendly, click on state then community of interest. All the Best!
I must agree with the previous answers. The very best way to find what you are searching for is to work with an experienced agent who will search daily for properties that best meet your needs and the parameters you have set. You should ask your prospective agent some important questions about the process involved in purchasing foreclosed properties. Does the agent have experience and success in negotiating the sale of foreclosed homes for both owner occupants & investors. What are the pitfalls you as a buyer need to be aware of & how does the process differ from "straight" sales. You need to be aware of the additional expenses involved for buyers on foreclosed homes, the difference between government owned homes & bank owned homes. The best information on foreclosed homes is going to come from an agent experienced in these types of transactions. A top agent can make this a great buying experience for you & give you the info yiou require to make a truly informed decision. This year will be a terrific time to find a great selection of foreclosed property values.
Hello Nancy - please know that most all Foreclosed Homes are Listed for Sale in the MLS (there are some Auction sites for those who would like to go that route). Are you looking to purchase a Foreclosure? If so, would you be an Investor or an Owner Occupant? This is important as many properties, when they are first listed, do have an initial time period where only owner occupants can offer.
One thing I can share with you about "finding the foreclosures" is - please don't "buy a foreclosure list" on-line. The companies that sell these lists are pulling the information from the Tax Records only and many times the data is not accurate.
The best thing to do is to find an Agent that assists Buyers in purchasing foreclosures on a daily basis. There are many details that an experienced Agent can share with you so you can make a most informed decision about your purchase.
I would be happy to speak or correspond with you to answer your questions, if you like. As I said, there are many factors to be considered in this market when looking at foreclosed homes. I'm sure my experitse would be of paramount service to you.
Please contact me if you wish - good luck!
Hi Nancy, Avoid many of the general foreclosure websites. They just charge you money to share publically recorded foreclosure data. Most of those homes are not fot sale and are just published legal notices of a judgement amount. Those amounts are misleading, low and not a true decpiction of the what the real foreclosure market is and about. For more information please give me a call. There is no real answer that can be said here, it depends on what you are looking for. Vince Romano Broker in Algonquin, IL. Thanks.