foreclosure list from agent?

General Real Estate Investing
1

my agent has sent me a list of f/c…is this a “true” list??? and, when i looked these props up some where bought in the summer of this year, how can they be in f/c already?

                                                   Tonia
2

I had been to a recent open house and the agent there said that agents receive what she called a “hot list” each morning of new foreclosures and that the agent I was working with should be able to get that info for me. At the time I was searching for a home to make as my personal residence. Mike

3

I get them once a week want to see it?

4

I would like to see it - are they good for Denver only though? If so, do I need to speak with a realtor here (in Orlando) to be able to obtain such a list, or is there a better source?

Also, has any used the service seizedrealestate.com? I’m pretty sure that I’m going to get the answer that it’s better to go through the local realtor in my area, but I thought I’d ask.

Sorry for all of the amateur questions - I’ll get there!

LR

5

ok…so i take it the list are good…but, explain to me how some of these props were just bought in like may and june and now they are in f/c…how does that happen?..i have heard if a prop has been abandoned then it can be a f/c in 30 days is this also true???

                                                      rhee
6

It is all up to the bank some take 3 months some take 2 years!! And I never look at this list anyway!

7

so if you never look at this list what is it that your using to get the foreclosures faster then this i would assume relationships with banks and they give you a heads up on properties that are about to be foreclosed on yes? no?

8

Ask the agent for more details on where they get the list and if these are HUD, REO, or pre-foreclosures.

Basically, HUD places their foreclosure lists online as well as in MLS. Banks often place their foreclosure in MLS as well, so some agents will set you up for email alerts that can send the list of homes matching that criteria every day. The problem is that these homes are in MLS, which means anyone in the world will be able to have access to them as well. It also means any agent can provide this information as long as they have the knowledge and capability of setting up the auto-emails.

If the agent has accessed pre-foreclosures or has another method of obtaining lists, then it would be great to know how reliable the information is and how often they’ve helped someone buy one of the properties.