How To Get Foreclosure Listings – Seven Ways To Find Them First!

How To Get Foreclosure Listings – Seven Ways To Find Them First!

Article by Elaine Berry

“How to get foreclosure listings?” — the question everyone seems to be asking! There are all sorts of reasons why you may be asking it. You may be a first-time buyer with not much money to spend on a home. You may be a new investor wanting to find properties to sell for profit. Or you may have heard about people doing well with “flipping”, and feel you want some of the action. Whatever your reason, you’re right in thinking there’s an opportunity there.

Amazingly, currently one in every 22 houses in the USA is in foreclosure! This means, every time you drive down a street, one or more of the houses you pass in that street will be at some stage of foreclosure. But which ones? The only way to find out where these properties are is to understand how to get foreclosure listings. You need to get your hands on them as early as possible if you want to beat the competition.

Here are some reliable ideas on how to get foreclosure listings:

· Contact asset management companies and ask them to provide you with information on their foreclosure properties. These are companies that help banks and other lenders dispose of assets, including foreclosed homes that they have repossessed.· Attend foreclosure auctions and take note of properties that fail to sell, noting down their addresses. (It’s really not a good idea to bid for houses at the auctions — there’s far too much competition.) Once you have the addresses, keep a watch on the property until a For Sale notice appears. Then contact the realtor. Foreclosed properties tend to be sold by specialist realtors so it is likely that the realtor will have other foreclosed properties to sell.· Contact agencies such as HUD and FDIC. They will always have some foreclosed properties for disposal. Look on their web sites as the properties may well be listed there.· Get in touch with your county clerk or sheriff’s department. They will be able to provide foreclosure listings in your county. If you visit your county’s office you can search for a NOD (Notice of Default), lis pendens or Notice of Sale. This is very hard work, but it’s free! It’s also the best way to get in first as you have the chance of finding newly posted properties before they are published elsewhere.· Look at newspapers. In many cities and counties there are local legal and private subscription newspaper lists of foreclosures. Also, part of the requirement for filing a foreclosure is that the notice should be published in local newspapers and business journals.· Contact the banks — many of the large regional and national banks make listings of their foreclosed properties available.· Try listing services online. The best thing about these is that they are totally comprehensive. The drawback is that they are not free! However this way you can find properties in any state you want, not just your local area, and in some the listings include images, size measurements, information about the neighborhood, schools, etc.

These are suggestions about how to get foreclosure listings, whether nationally or in your local area. The more of these methods you can try, the better. The sooner you can find information on foreclosed properties, the more chance you have of making a good buy or turning a profit.

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