Try your title company first. They often provide “Notice Of Default” ‘NOD farm packages’ for free, depending on what the laws in your state allow them to distribute. Or they can tell you how to obtain this information (will they, is the question).
If the title company is unable to provide this data, you can always hire an aggregator to supply you with pre-foreclosure data. They comb through the county records for NOD’s, or whatever you want them to, and provide you a current list. This would probably be the most expensive route.
You can also go down to the county records office and search for the latest NOD filings yourself. You should do this once anyway, so you’re familiar with the process. Cheapest, most time-consuming method, but…
The shelf life of these records can be short, depending on how fast the bank forecloses, and when a variety of other postponements can occur.
You could also contact CoreLogic, and ask them how you can obtain NOD lists for your specific area. They should be able to point you in a good direction, if not a service they provide.
You want NOD filings, in order to get to the sellers earlier. Waiting for the NOTS (Notice Of Trustee Sale) filing, and you’ll waiting behind a half dozen other investors who are already working the seller over for a deal.
Finding a short sale and foreclosed list is not a difficult task. Here are some useful tips that would work:-
Contact with local real estate investors
Find the right estate agent who specializes in listing foreclosures
Visit the major bank websites
Find Auction houses
Search real estate websites that list foreclosed properties
I think, hiring a professional real estate agent is the best way to find foreclosed and short sale properties because an agent aware about the local real estate market. You can also visit online real estate listing portals like Trulia, Zillow etc.
I think Javipa gave the best answer. I go to the courthouse once a week to fond my deals. There are never any investors searching records. I get the most recent leads before they go public. Time consuming yes but way worth it in the long run.
Javipa’s advice is the best. Looking for a “Notice of Default” or “Notice of Bankruptcy” or “Notice of Trustee’s Sale”, all depending on your county’s nomenclature, in your county clerk’s online database is a great start to pull down the list.
Another resource that I use that I couple with ads in the mail is to look in your county appraisal district’s list of delinquent tax sales. That data needs more scrubbing because of owners who have minor delinquent amounts have lower odds than those who have higher odds. You can call up the appraisal district’s office to confirm whether it’s online or they don’t share it.
I scrub through data like this and tried to share on BiggerPockets, but of course, they were much too pretentious and booted me.
I use a service called PropertyRadar in California, they aren’t nationwide but they are in multiple states. They’ve been pretty accurate for me and I’ve checked them with recent postings at the county clerks office and they were posted within a couple days of the recording date.
Another great option is using a title company. Title companies want your business and can be great assets when it comes to researching properties. Some companies will give lists for you to prospect so that they can get your business in the future.
As mentioned previously, you should network with investors in your area so that you can see which way is best for you. They may recommend a title company that is good with investors that can service many of your needs.
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