subject: Foreclosure Listings Finding Good Foreclosure Listings [print this page] There are both fee and free foreclosure listing services, but when dealing with the purchase of such an important investment as a house, it is worthwhile to investigate multiple options.
Free Foreclosure Listings
o HUD Home Store offers free geographically dependent listings of homes which HUD has repossessed as a result of non-payment. They have some specific sales terms that are published on their site.
o Wells Fargo publishes their foreclosure listings free of charge and provides you the opportunity to search for listings by state.
o Bank of America offers free foreclosure search by location for its bank owned properties nationwide.
o CreditNowUSA has an easy to use and free nationwide foreclosure listing service.
Fee Based Foreclosure Listings
o MSN offers for fee service for foreclosure listings.
o HudForeclosed.com offers a listing for fee service.
o RealtyTrac advertises that they have 1.5 million foreclosed homes listed on their site.
Buying a foreclosed home requires some research and preparation and it may take some time. However, when done correctly the rewards may be great.
Using a Real Estate Agent Who Works Directly With Banks That Own Foreclosures
Getting a real estate agent who specializes in foreclosures and prequalifying for your purchase can make your purchase go smoothly. Also make sure that you are familiar with comparable home values in your search area before bidding. The price you pay for the foreclosed home is for as is condition. So when you do make an offer be certain to include an inspection contingency.
When a bank sells a foreclosed home at auction, it is trying to recoup all its costs and many times this amount is not realistic in the market place. When the home does not sell at auction, it becomes real estate owned by the bank (REO). Banks have a fixed group of agents to sell their properties and these agents are not only knowledgeable about what is for sale, but also know what will be entering the market in the near future. Getting one of these agents to work for you can be a great asset and give you a competitive edge over other property seekers.
www.creditnowusa.com can help make your foreclosure purchase a success by helping you find foreclosure listings and obtaining mortgage prequalification.
For more information, go to Foreclosure Listings at http://www.creditnowusa.com/Foreclosure-Listings
