I think i’m going to subscribe to either foreclosure.com, foreclosures.com, or realtytrac.com
What do you guys think of these three ?
Suggestions? I just feel that they’re too big, like they have a lot of outdated information. Who knows? I use to subscribe to realtytrac.com in 2008 and they had a lot of old information…
What I’ve found is that these sites are the “lazy man’s” way of finding foreclosures and many of the listings are already sold. Typically the best deals are going to happen at the court house and there is a reason that they are now bank owned (they are overpriced). The very best deals aren’t the ones that anyone knows about, so watch the paper for death and divorce notices and then just contact the family. Most people won’t go knock on someones door, but the worst can happen is they can just say no.
Minor point and not a disagreement with the advice to knock on doors.
When a property is being sold at auction, there can be junior liens or other reasons for the auction price. Until the foreclosure auction completes, the junior liens are not wiped out. It might not make sense to buy prior to the auction.
If the lender finds there are no bidders and they take the property back, the lender is not the legal owner. Not before. Once they are the owner they can change what they will accept (terms or price).
In other words, there can be difference prices that the market will pay or the lender can accept depending on where the property is in the foreclosure process.
Thank you for the information. I’ve been trying to work backwards on the foreclosure process, but always seems like a dead end. Is there a way to negotiate with the bank, after it has been sold via Sheriff Sale?