Foreclosure Websites Can Be Your Secret Weapon

Foreclosure web sites are of great help in giving you the information you are searching for to find a great real estate investment in this tough market. Foreclosure listings on these web sites can cover all kinds of distressed properties for sale announcements such as foreclosure auctions, foreclosed homes, pre-foreclosures, bank home sales, foreclosures for sale and more. If you are interested in getting a steady diet of foreclosure type properties to cross your desk, then this is certainly one way to go.

Time is of the essence when purchasing foreclosures, so sign make sure that any foreclosure website is up to date. Many offer 7 day trials that let you start searching foreclosure listings right away. Other foreclosure web sites review the latest list of home foreclosures but may not be as timely as those that get their information directly from courthouse records.

Foreclosure

Foreclosure homes are properties that have been foreclosed by a mortgage lender and are now for sale through foreclosure auction. For real estate investors, however, this can be a tremendous opportunity to pick up properties for pennies on the dollar. Unfortunately, foreclosures are expected to increase as interest rates rise and monthly payments on short-term variable rate and interest-only loans begin to come due. By using the services of a foreclosure web site, you can really stay on top of the market and find only the absolute best deals.

Properties & Property Information

Very detailed information about the foreclosure properties can really be at your fingertips. Imaging knowing how much was owed, what the person paid, when the bank is scheduled to foreclose and a wealth of other information... In this case, information is key to your success.
When you test out a foreclosure website, let me give you a tip. Contact some people on their list and make sure that the properties are truly active..... If not, you know that you are getting stale, rehashed material.

As an interesting tidbit, we did find was that for zip code searches it appeared that RealtyTrac had the best number of properties and they seem to have current information.

Have You Considered Dealing Directly With The Bank?

Bank foreclosures must be purchased from a bank through the bank foreclosure REO department. One source of these properties is when banks are foreclosing upon builders who have not been able to sell their "spec" home. If you are looking for a newer type property, this can be an excellent way to find the deal of a lifetime. On some foreclosure web sites, they have REO information that explains the bank foreclosure list process and how one can bid on homes at a foreclosure sale.

So, as a real estate investor, please realize that you are dealing with truly unique times right now where you can build an unbelievable portfolio. By using foreclosure web sites and their listings, you can get access to all kinds of distressed properties for sale at literally pennies on the dollar.

To begin your real estate activities, you will obviously want to use the services of a foreclosure website in your future.

Read more articles by: DC Fawcett