All You Need To Know About Foreclosed Real Estate Listings

Foreclosed real estate is a great way to find a home at a bargain price

, and avoid paying high commissions to real estate agents. But there is a great deal of new information to wade through if you're on the lookout for foreclosed real estate listings, and a number of important things to keep in mind as you pursue a repossessed home.

Whether you're shopping for a home for yourself and your family or strictly seeking an investment opportunity, the following tips may be helpful in selecting and buying a piece of foreclosed real estate:

- Where to Find Listings: You can find listings and information on upcoming foreclosure auctions advertised in local newspapers, real estate publications, from banks and mortgage lenders, and online. Web listings are especially helpful, because theyre usually updated in real-time to reflect changing sale dates. REDC is the nations largest real estate auctioneer and always has thousands of homes to bid on in person at live auctions or online at www.Auction.com

- What's in the Listing? Most foreclosed real estate listings will tell you the date, time, and location that the property will be put up for auction, and may provide additional information about the property itself.

- What's Not in the Listing? Dont expect to see details of the property's condition, or the reason it's been repossessed, in the foreclosed real estate listing. That kind of information is almost never disclosed to new buyers. For auctions on the courthouse steps, you won't be able to look inside the home, either, so be aware that there's a lot of guesswork involved in purchasing a house at this type of foreclosure sale. Properties here will be sold in "as is" condition. REDC auctions, however, usually feature three open house dates for viewing and inspection and homes in these auctions are sold with title insurance to protect you.

- Starting Bids: Some listings will provide a starting bid for the property an amount that is usually the total cost of outstanding loans, interest, and any additional fees accrued in the course of the repossession. This bid is the starting point for the property at a trustee sale auction, and will usually be posted online several days before the sale.

There are some amazing deals available in foreclosed real estate. Reading the listings and doing your research could put you on the path to a handsome profit and a great new home.

by: Daniel Smith

POST COMMENT

What You Can Do To Lock In A Low Mortgage Rate The Growing Demands Of Pre Engineered Buildings Trends In Playa Del Carmen Real Estate Working With Your Lender To Get The Best Mortgage Rate Increase In Bank Foreclosure Listings Attract Homebuyers Homebuyers Attracted By The Rise In Listings Of Bank Foreclosures Explore Durango Real Estate Market Before Investment Home Buying Options - A Realtor Would Help Exploring The Possibilities Of A Beautiful Old Home Looking Into A Bungalow For Purchase Value of Real Estate in Everett Affected by Govt Program Closing Costs And Other Related Expenses Tidying Your Yard For Fall Home Showings