Anyone looking to buy their first home or invest in real estate should consider buying a foreclosure. Foreclosure listings provide detailed information on homes and buildings that are either in pre-foreclosure and foreclosure status. These listings usually include foreclosures from all sources such as banks and even the government. All listings are not made the same. There are companies that are charging people for foreclosure listings that are not accurate or up-to-date. To ensure that you are receiving the most current foreclosure listings there are a variety of resources you should consider.
One of the best places to find current accurate information on local foreclosures is through your local county clerk's office. The recording of a foreclosure is public record and can be assessed by simply going to your local county court house. When you get there be prepared to do some searching. It may help you to look for Notice of Defaults. This will narrow your search for foreclosed homes giving you something to search by. This is one of the most accurate ways to get information on foreclosed properties. In addition, if you are willing to invest some time and effort you will be able to collect as much information on foreclosed properties all for free.
Another avenue to pursue when buying a foreclosure is through your local newspaper or an online classified. Many local newspapers post information on foreclosed homes in the real estate or classified section of the newspapers. Usually the weekend printings of most newspapers have the most foreclosures listings. On the auctions page there is a through listing of upcoming property auctions in the area. Sometimes pictures of the properties are even included. When viewing these newspaper foreclosure listings it is best to read the fine print and there is almost always fine print. The fine print will basically provide information on the time, date and place of the property auction. In addition, there will be important details on how much is needed as a down payment on the property and how soon the remaining balance will need to be paid either in cash or through personal financing. Your local newspaper is an excellent reliable source for foreclosure listings.
Finally, you may want to seek the counsel of a realtor when looking for foreclosed properties. Realtors are trained to look for the types of homes that an individual wants. You should do some research either on line or by contacting a national organization such as the National Association of Realtors to locate a realtor that specializes in locating and selling foreclosed properties. There are realtors who do this and they can be a great asset if you are unsure how to navigate through the purchasing of a foreclosed property. The only stipulation about using a realtor is that this is always a fee of some sort but paying this fee may be very worthwhile if you can find the property you desire.
If you're considering buying a foreclosure, there are a number of reliable resources that you can use to search for foreclosed properties. By searching proactively, looking online, etc., you'll have the advantage over everyone else who wants to take advantage of the market. You just might be able to score the property deal of a lifetime!
