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Your Realtor will be able to set you up with an automatic email search. That way, any time a new REO, real estate owned property comes to the market, you will be notified immediately. Thanks and have a good one.
What price range? Search for REO's Real estate Own by Banks. Homes dot come is very good, just sign for the report but you need to be ready, REO's are going very fast. Do you have a local realtor? Be sure they have the ESIGNATURE option so you can submit the offer ASAP.
Contact you local real estate professional to get you put on a automatic update list for only REO properties.
It depends on what exactly you are looking for. I have been working foreclosures for the last 20 years. Here in Florida most counties post the actual foreclosure sales on their web site. That said there is really no easy way to find out the controlling party once its been foreclosed on. Most lenders hire a third party to manage their properties and assign them to listing agents like myself. These lenders and third party companies don't entertain offers till the property has been on the market. That is defined as mls listing. That is labeled first look. There are 18 areas that are determined by the federal housing and financing as an enhanced first look. Here in Florida there are three area. West Florida, Central Florida and the Jacksonville area. You are in Orlando you are in this area. To that the listings are first given to investors participating the the NSP property for 14 days. Then it goes on MLS and owner occupants are given first crack so to speak. There is no set time period that it has to be exposed only that it has to be. So every bank has there own time period from 24 hours to 21 days. That said its also going to be unless you are part of the NSP property next to impossible to find out what properties are coming on the market prior to MLS. This is due to every listing agent is different and the listing type. Some of my listings are governed by master listing agreements. Those I have no issue releasing what they are prior to MLS. However about half are not. And Simply put until we have a signed listing agreement we don't release that information.
Hi Sharhonda, The whole foreclosure thing is not what is seems. Mostly because with foreclosures, you never know the condition of the home, nor are you able to do any inspections most of the time. Not to mention the fact that most of the foreclosures listed on this site are impossible to actually buy, unless you have cash and are willing to buy right on the County Courthouse steps (and they postpone the sale of your chosen property often...God knows why). If you choose that route you are still not able to do inspections or obtain knowledge about the condition of the property, or possible liens or encumbrances OR WHO IS LIVING THERE AND NOW YOU HAVE INHERITED A TENANT YOU HAVE TO EVICT! . It's such a scam really. Most Bank owned properties are sold to investors on the Courthouse steps. Those that do end up coming onto the open market through a Realtor, and placed on the MLS like all the other properties, aren't priced much better either. The really great deals are subject to investors coming out of the woodwork with bags of cash. HUD homes are a good bet....but they are on the MLS at inflated prices too. I wish I could take my years of experience with Foreclosures and Short Sales and adequately communicate how the days of 5 bed, 5 bath homes in excellent shape for $40k ARE SO OVER, as are houses for $1500 bucks! Typically, I'm not believed when I say these things, and just look like a naysayer when I try to tell people the reality. I figured it write it down just the same. I say, get an agent and buy a decently priced home in the area of your interest. If you look in the upper right hand corner of this page, you will see a pull down tab called "Local Pros". There you will find a Real Estate Agents button. This is an easy to use tool which will allow you to find a Realtor in your area who you are comfortable with. Please get in touch with a professional and utilize their services...it really is the easier, softer way. Best of Luck to you!!!
Hi Mr. Hackman,
There are various sites on the internet that give pre-foreclosure information. Foreclosure Daily is a very famous site along with others. Depending on the county you maybe able to get their list from the Lis Pendis on the courts site.
Try 1 week free at realtytrac. they are not real time but have easier to find info than the county websites and are just a couple days behind. They give you pre-foreclosure info too so you can track listings you have an interest in. Also a local agent should be able to set up a search that send you now foreclosure listings as soona s tehy appear in the MLS for sale.
Ms. Wilson what stage of the foreclosure process are you looking to purchase. Properties first go through pre-foreclosure, then auction, if the lender wins the auction the property then becomes a REO (bank owned real estate).
Hi Sharhonda. Visit Miami Dade Clerk website for New foreclosure listings. Have a great day!
You will only know when property has a sale date from the court.