How do I find the current listings for foreclosures, bank owned properties…etc. for single family homes in Colorado?
I’m looking to invest in fixxer uppers.
The best way to find foreclosures is to advertise in your local newspaper and let the sellers call you. You can spend tons of hours searching court house records, legal notices, newspaper ads and realtor listings.
I use an ad like this: "Foreclosure? Divorce? Death? We buy houses. Any area, any condition considered. 214-555-5555.
You will have to evaluate each call to decide whether its worth the trip to go see it, and then decide which to buy from your narrowed list.
Remember, pay close attention to what they say. Many will tell you “I want $50,000” but in the same sentence tell you they are “desperate to sell”. Careful negotion and they will tell you what their bottom dollar is. Go from there. Good luck! ;D
Jean
Has anyone had any luck on this. I have bought them before in the 90’s but it takes a huge effort to trace them through REO. And just buying a $300 course won;t do it or going to a web site. I guess the best way is look for tax deliquencies
I want to buy foreclosures. Is there a place where I can buy a list of foreclosures or lis penden?
Joe
I get NODs from my local recorder’s office each day for free. They have a website where I can search out the new filings each day. Takes me about 5-10 minutes each day to get the new NODs and go to the tax site and get their address. Something to check into, I suppose.
Lots of title companies can provide lists of preforeclosures. But by the time you get the list, investors in the know will have already contacted them.
Good luck,
Ryan
Now why didn’t I think of that! Why pay for free information…
that works only if you can get them online.
Hi,
I’m a new investor. What are NODS?
Thanks
Notice of Default. Filed at the local, usually county, as a first legal step to foreclosure.
Yeah, I got lucky by finding their website. I had it forever and couldnt find NODs ANYWHERE on it. Then one day I was doing some title work and came across a notice of default, and have been able to search them since.
I think that its 9.95 per WEEK. They’ll bill you for the whole month, though.
Hey,
If you’re talking about true foreclosures/REOs, ie the bank has foreclosed and now owns the property, then the absolute best, and cheapest, place that you can find out about them is your nearest friendly neighborhood Realtor ™.
99% of ALL bankowned property is now listed via the MLS. You are going to have to make your offer(s) on these properties through an agent anyway, so why pay big bucks to find them somewhere else and then call an agent?
Have an agent look at what’s out there for you.
Raj
Can you find NODs online? Mike
I did try REaltytrac, but found that by the time they got the preforeclousre info up it was already about a month old. Has anyone had any success with them?
I found the best info comes from the courthouse if you go to a sale, there are people there that can provide books that have pre-foreclousre info in them. They do the research!!
For HUD go to MCBREO.COM you will need to use a registered HUD broker to make offers.
For others the best bet is to use a real estate agent to search the MLS. If they are part of the IRES system they can put you on an automatic search that will email you as soon as a new foreclosure listing hits the market.
Mike
I am a licensed agent with acesss to the MLS. Can you tell me What is the IRES system is?
IRES- is the MLS system for northern colorado.
Mike
The best source I feel for foreclosure listings is Title Companies. If you can find a good title company, most of the time they are willing to fax you a foreclosure listing every time they update their listing (once or twice a month). This is especially the case if you bring them business by bringing any deals your making to their company. If you use them exclusively…some will even waive fees that they usually charge to do a search on a title for any liens against the property. Title companies can be a very benefitical thing to keep in your back pocket. I recommend finding one you would like to work with, if you already have not. 