Finding Foreclosures?

Foreclosures, Short Sales, Tax Foreclosures
1

Hello! Are there any good web sites that can be used to search for
foreclosures? I came across www.realtytrac.com can I use this or there other methods?

Also, can you finance a foreclosure home? Is their a required % down?

Also, let’s says the house has $100K owed on it, do they sell it for that amount or do they auction it or what?

2

hey jrockfl
r u by anychance in rocklege, fl? just curious. Sometimes your county can be really advanced. They can have everything computerized - forclosure notices, divoce, probate etc. Where and what county are you located in
newbie investor in central florida
steve oki

3

if you go the shortsale route, you can get some good deals by discounting the amount owed by 30 % more or less.
steve

4

Hey Steve,

THanks for your replies. No, I’m in Tampa, Hillsborough county.
What’s short sale? Where can I find the deals?

5

i worked in tampa for 9 months back in 2004 for citigroup before my contract expired. If you go thru this site, you should read everything to get an understanding. There are other courses out that can help you as well. GOogle the interent and read up on some of the gurus out there: Tom Kish, donna dorriety, mark sumpter, alex gurevich and host of others out there teach. There are many audios you can find that will explain the short sales, chectk the rei site, investor wealth, creonline etc. as well. There is a book out there written by an investor in your area - Thomas Lucier. Go to your local barnes and noble and go thru the real estate section. IF I missed anything, one of the actual investors that perform short sales on a regular basis can explain in further detail

6

Thanks for the info! Have you purchased any rei homes yet? Does the county usually have a foreclosure listed? How does that process work? Do you bid on the house? How is the sales price determined?

7

This is from rei real estate term website:
Short Sale - A sale of a house in which the proceeds fall short of what the owner still owes on the mortgage. Many lenders will agree to accept the proceeds of a short sale and forgive the rest of what is owed on the mortgage when the owner cannot make the mortgage payments. By accepting a short sale, the lender can avoid a lengthy and costly foreclosure, and the owner is able to pay off the loan for less than what he owes

Hillsborough county is computer savvy. If you get thomas’s book, he lists many websites on how to look for people in pre foreclosure - this includes, clerk of the court, tax assessor and propoerty apraisers site for tampa.

steve

8

I would suggest that you compare realtytrac with your local auction lists. My experience was that the online service had information that was only 1% accurate. (10 homes listed and only one was valid. Also, 97 homes were actually going to sale.) >:(

9

I’m confused as to what you’re looking for. Are you looking for houses pre-foreclosure? Or after the auction as REOs. If you’re looking for house pre-foreclosure just look in the legal notices in your newspaper everyday. Your paper probably has a web site. It’s all right there and it’s current. If you’re looking for houses after they’ve been foreclosed on find a realtor who specialzes in them.

10

You can also get a list from local title comapnies. It should be free if you have good relationship with title companies. If you don’t, try to build some.

11

you can find pre-foreclosure listings in certain publishings in your county. the best place to find them though is the county recorder.

12

JRockFL

The best site for preforeclosure/foreclosure information is: www.foreclosuresdaily.com
They have researchers in the courthouses they supply data in (across FL & NC). They update daily and provide the data in an easily searchable format.

Good luck!

13

Thanks everyone. RE Inv. I will check out that web site. I have been going to the clerk of court web site, then the tax web site and have been able to get the info I needed.