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      06-19-2011, 09:43 PM   #1
JoeyBananaz18
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Foreclosure sites....

I'd like to start doing my research on investing in foreclosed properties and I'd like to join a foreclosure site that gives listings of homes. I was wondering if anyone on here is already using one or two of them. Any feedback would be great. I'll be honest, I've been trying to stay on top of news but when it comes to this sort of thing, i'm what the kiddies on here would call a "noob".

Let me know whatever you guys are using. Thanks.

Joe
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      06-20-2011, 01:37 AM   #2
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here in california foreclosureradar.com is good, i dont think they have the service in NY but its worth checking...
tells you all notice of defaults, trustee sales as well as REO's
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      06-20-2011, 02:22 AM   #3
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When my girlfriend was looking at houses for me she bumped into several sites that let you filter and one of the options was foreclosures
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      06-20-2011, 06:37 AM   #4
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Contact your local realtor, they will give you this for free.
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      06-20-2011, 08:05 PM   #5
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Quote:
Originally Posted by E90SoFlo View Post
Contact your local realtor, they will give you this for free.
really? thats awesome. thanks. Anyone else?
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      06-20-2011, 09:27 PM   #6
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Quote:
Originally Posted by E90SoFlo View Post
Contact your local realtor, they will give you this for free.
Nothing's free, free.
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      06-20-2011, 10:51 PM   #7
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Quote:
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Nothing's free, free.
Yea i was thinking this. Free, plus the cost of other stuff like actual charge.
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      06-20-2011, 11:19 PM   #8
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Originally Posted by JoeyBananaz18 View Post
Yea i was thinking this. Free, plus the cost of other stuff like actual charge.
On the other hand it is always good to know a realtor.

Trulia.com and Redfin.com should also list some foreclosures.
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      06-20-2011, 11:21 PM   #9
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On the hand it is always good to know a realtor.

Trulia.com and Redfin.com should also list some foreclosures.
All realtor fee's are payed by the seller.

And there are "foreclosure" list that you can get for a realtor for free.

Trulie and Redfin are inaccurate and not reliable, but still fun to look at just to see pictures, but the pricing on there sites are off, also, all the photos of homes on there look really nice, I have showed a few homes to clients that looked at "those sites" and they're reaction is always "This does not look like the pictures at all"
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      06-20-2011, 11:31 PM   #10
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All realtor fee's are payed by the seller.
Even in a foreclosure/auction listing?
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      06-20-2011, 11:52 PM   #11
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Even in a foreclosure/auction listing?
Payed by the bank (the seller)
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      06-21-2011, 08:35 AM   #12
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Let me clarify the Realtor fee's are free statement.

If the property is listed on your local MLS, whether it be short sale, bank owned (foreclosed) or just a regular sale then the commission is paid by the seller, it is part of the agreement with the Board of Realtors to list the property on the MLS.

If it is for sale by owner then your Realtor needs to check with the seller and complete the correct paperwork so that he or she can get paid.
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      06-21-2011, 08:40 AM   #13
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Some of these websites have really old and inaccurate information, especially the bigger ones. There is a website that covers the two counties where I live, it is a small private company and the monthly fee's are quite high, however the information is collected from the courthouses/clerks offices by hand daily and updated the same day.

The best way to find a foreclosure is good old fashioned legwork, you might want to research redemption rights and see if you can use those to your advantage.
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      06-21-2011, 10:01 AM   #14
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Quote:
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Some of these websites have really old and inaccurate information, especially the bigger ones. There is a website that covers the two counties where I live, it is a small private company and the monthly fee's are quite high, however the information is collected from the courthouses/clerks offices by hand daily and updated the same day.

The best way to find a foreclosure is good old fashioned legwork, you might want to research redemption rights and see if you can use those to your advantage.

This is true, all this information come from either the banks or the local court since a foreclosure must be files with the courts. The courts are required to publish these lists, whether they charge you for a copy or not is up to them. Unless the website has access to these lists either electronically or buy sneaker mail, you could end up paying for something that is out of date or you can get for free since some local governments/courts/police post this information online for everyone to see. I know my county court posts their lists online for everyone to see, it not easy to find but once you do it is easy to check.

So call you local county court and ask them how to get the list. The other place is to call the banks, they too are required to make the lists available. Depending on the house banks are choosing to take the house from owner verse foreclosing on them since court foreclosure is expensive for the bank and it the house if in good shape and desired the Bank will choose to keep it.
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