As many of you know, there is a plethora of fee-based online sites listing HUD and foreclosure properties. Many of these sites regurgitate the same properties whereas some of them have listings that don’t seem to be available elsewhere. All of them charge a fee that is somewhere around $100 a month. I don’t have a problem paying for this information if I know that the data is up-to-date and as complete as possible.
In your experience, what is the best site(s) to search for HUD/foreclosure properties? Also, is using online services the best way to research such properties?
DO NOT pay anyone a dime for HUD foreclosure property info. HUD makes all their properties available through selected listing agents throughout the country. Here’s the best part… the info is absolutely FREE!!! Go here: http://www.hud.gov/homes/index.cfm, click on the state you want to search. The link will take you to the authorized listing agency. From there, you can research properties for sale. There are often very detailed property condition reports free. It’s all free… a plethora of free info. If you want to buy a listed property, please use a Realtor familiar with the process. If you need further guidance on the process, let me know. I typically bid on at least 15 properties a week. FREE!
Perhaps I am getting HUD and foreclosure properties confused. For example, the government’s site indicates that there are no properties in Dutchess County NY available. However, I have found the following elsewhere:
What we commonly call HUD’s are foreclosures that are insured by HUD. The sites you mentioned have many different types of foreclosed properties including some HUD owned. If HUD’s site is showing no properties in Dutchess and one of these other sites is showing some available, that tells me their idea of real time may be a few days, weeks, or months. These probably aren’t HUD owned properties.
I wouldn’t pay for those foreclosure websites. Most of the information is guaranteed outdated before you get it. HUD has a free site called http://www.bidselect.com for Texas and our region. Also, most REO property and HUD owned are listed in MLS, so if you sign up for free alerts, you’d get them in your email.