Foreclosure List

General Real Estate Investing
1

Has anybody ever used Foreclosurefile.com?

There records don’t seem to be all that accurate…

Thanks!
Michelle

2

Never tried it! I get my list from the title company every week! with an O & E for every property

3

Newbie questions

“O & E”?

Should I be able to get a list from the court house or something?

The same with upcomming auctions, should I be able to get a list from the city?

What department would I ask for?

4

O & E ownership and encumberance it will show who own’s the property and which banks are owed how much!

5

Here’s my advice after fiddling with that website. Don’t use it, I found foreclosures on there from 2001. From now on I’ll just stick with the couthouse.

Michelle

6

I have been going to the Title Co. They gave it to us for free. They said that usually they just throw it away because no one uses it. Our courthouses around here don’t do anything but hold the sale on the steps. We were able to get a free publication, I would ask the local government admin if there are any publications you can get for foreclosure lists.
Here is a question… I went to a sheriff’s sale and they require 10% down when you win and the rest due at 4PM the same day! How in the world are you supposed to get 100% financing for this kind of deal? That isn’t enough time to get approval, do you really need to have that sort of cash sitting around?

7

Yep, when you buy at auction you can get a real bargain, for cash. Or you can get a big rehab job, for cash. That’s why the price is usually low.

8

You cannot do conventional lending on a foreclosed home, reason being, need appraisal and title, when it comes to bidding on the courthouse steps need either Private money, or a Rich Uncle. lol

9

So wouldn’t this be the time to use the Hard Money Lenders, then to rehab or resell.

10

HML’s also will not do foreclosures due to no appraisal, and no title