“I want a foreclosure.”
“Where can I find foreclosures?”
“Will you help me find a foreclosure?”
I receive a lot of calls like this. Everyone wants a good deal, but sometimes its hard to know where to begin.
How do you plan to finance your foreclosure purchase? Are you planning on paying cash or getting a loan? Determining your financing strategy is the first step in deciding what types of foreclosure opportunities are available to you. If you are not planning on paying cash for your foreclosure purchase you will most likely be interested in a REO (real estate owned) aka bank-owned property.
Finding foreclosures online can be tricky for several reasons. There are numerous websites that claim to have foreclosure or bank owned reo lists for a price. Other sites may or may not force you to create an account to supposedly view the address of properties currently available in their "database". I would suggest avoiding all sites that have any of the attributes I just described. So what should you do? Where can you find foreclosures online?
Here are a few websites I recommend for locating foreclosures online:
If you have questions or would like to view properties from any of these sites feel free to contact us for assistance or to learn more.
In the near future, this post will be updated to describe the pros and cons of each website as well as the purchase process of each.