April 30, 2009
How to find foreclosure properties
There many ways to find property that is has been foreclosed or is in the process of being foreclosed upon:
1. Newspapers. In every newspaper in the country there is a section for legal notices. These notices hold the legal information for properties in foreclosure. These notices will name the person(s) who has the legal proceeding against him/her, the name of the lender(s), the name of the county sheriff, if this is a tax foreclosure, or any other pertinent information. It will give the date of the proceedings and ask for further information from anyone who wishes to put a lien against the property.
2. Direct Mail Campaign. Consider a mass mailing through the postal service for home owners going through a foreclosure. As you receive information back from this mailing you can be assured that these are good leads. Another advantage is that you may be able talk with to someone that is still in the pre-foreclosure period. They are motivated to sell, or they wouldn't have made contact with you about their property.
3. Your local realtor. Many agents will be aware of bank-owned properities for sale. A bank that ends up with properties that are being foreclosed will sometimes hire a real estate agent to represent them. The bank doesn't want the property; it wants it sold.
4. Records at the local county courthouse. In this method you can find the houses that are being foreclosed either by lending institutions or for
non-payment of taxes. This method is time consuming, but you have complete control over your search. The thoroughness of the information you collect is totally dependent upon the work you put into it.
5. The internet. Online foreclosure listing companies will search for notifications of default. However, you need to be sure that the information you get is current and not outdated. Only choose reputable companies with fresh listings. Read our list of the best forclosure listing services to find out about the top companies online.
There are numerous ways to find information on foreclosures. Don't forget, another way to get information is by word-of-mouth, especially if you are looking locally. You might hear that the brother-in-law of the your sisters best friend is preparing to go through foreclosure proceedings. Be ready with a business card, flyer or brochure to give them.
Filed under foreclosure listings by admin