Web Tools like Foreclosure.com

Foreclosures, Short Sales, Tax Foreclosures
1

Hi,

Does anyone here use tools like Foreclosure.com or ForeclosureDeals.com to find auctions, forecoluses, and short sales? Is it worth the investment?

2

I’ve used www.realtybid.com and www.bidselect.com before. You don’t have to pay anything until you buy. We bought a house from one of the websites and there was an $800 buyer premium we had to pay, but it was such a good deal regardless.

3

thank you justin, i will check these out!

now, do these sites have the same information that you can get at the banks? Or is there an edge getting lists from a bank before they get one these sites?

4

They basically have listing information about a house just like you’d see on the MLS. I’m not sure why some banks decide to use the auction sites and others do not. From what I’ve seen where I am, it’s pretty rare for houses to actually show up on there. Another site you can look at is www.hudhomestore.com
Some banks don’t even put houses on the websites like that. The houses we bought from the bank a couple months ago weren’t advertised anywhere. A guy at the bank was managing them and they offered them to me when I approached them about some other houses.

5

Hi,

Thanks again. So I probably should visit every local bank and ask for their foreclosure lists?

Also, do you work with a broker that focuses specifically on REO’s?

6

Yeah, you could check and see what the banks are holding. Not all of them will be good deals. I was lucky to find a bank that “gets it.” They were completely reasonable on their prices because they wanted them off their books.
I work with a couple Realtors. We don’t focus on any certain type of property ownership. I’ve bought from regular sellers, estates, foreclosures, short sales, and properties that weren’t listed on the MLS. Focusing on one specific type of property is the stuff that courses teach.

7

hi, I heard foreclosurelistings.com and www.realtytrac.com are good sites as well.

8

I personally use www.realtytrac.com It’s worth the monthly fee.

9

Maybe because of being a keen site researcher, I’ve noticed that Foreclosure.com has foreclosure listings . They also provide pre-foreclosures, for sale by owner, bankruptcy homes and properties and they even update their database daily with new properties.

Another site I’ve found that provides information about mortgage and pre-foreclosures is the http://prevailovershortsale.com but I haven’t tried to fill up their “Sell My Home opt - in -form” yet as I was still looking for further suggestions of other members here.

Can you please look at this website and help me think if I should ask for a help on this website?

Thanks and respecting your opinions.=)