Foreclosed Homes?

[siccjay]

Anyone know where to get free forclosed and HUD homes listings online? I'm looking for a house to live in a little while then fix up and sell or rent it out. I have no idea where to start really.

Any help is appreciated.

[x2ski]

[ QUOTE ]
Anyone know where to get free forclosed and HUD homes listings online? I'm looking for a house to live in a little while then fix up and sell or rent it out. I have no idea where to start really.

Any help is appreciated.

[/ QUOTE ]

From my experience (3-4 yrs ago), a lot of those sites give you the runaround to get access to the listings or charge you a fee to view them.

Contact a local REALTOR, 'cause they should be able to hook you up with all of the foreclosed-upon homes in your area... Otherwise, call local banks/mortgage brokers and ask them if they have any recently foreclosed homes listed in the MLS (multiple listing service) and what real estate broker has it listed, then contact the broker/agent directly.

I'm a REALTOR, so if you need me to hook you up with someone in your area that you can trust... PM me.

[bwana devil]

every county is different. here's my county.

travis county

and here's hud's site.

hud

[ssomega]

firstpreston.com

Listings come out every thursday morning.

Surprised the real estate guy didnt mention it.

[x2ski]

[ QUOTE ]
firstpreston.com

Listings come out every thursday morning.

Surprised the real estate guy didnt mention it.

[/ QUOTE ]

Never heard of the site, thanks for the link.

However, there aren't very many listings available (0 in my state of Wisconsin, while the top brokerage in my area has dozens currently listed).

[siccjay]

Thanx, I had this site already from a realtor I know.

I had him looking for houses for me awhile back but I wasn't approved for a loan yet. Now that I am I can't get ahold of him. I WANT A DAMN HOUSE!

[x2ski]

[ QUOTE ]
every county is different. here's my county.

travis county

[/ QUOTE ]

Aren't those Sheriff's auctions? That is definitely another option, but you may be competing with the bank to get it at a super-cheap price, 'cause they want what's owed them as well.

Call your county courthouse (our check their website, if available) for more info on those.

Make sure you're pre-APPROVED (NOT just pre-qualified) for a loan up to a specified amount before you go to one of these auctions. This is also the case for written offers on most foreclosed homes owned by financial institutions.

[bwana devil]

dude, cut out the middle man and go to the county auction. every county (at least in my state) holds them once a month on the county court house and auuctions off the properties. if you get third parties involved youre going to be losing all your equity off the bat.

find out where the auctions are in your area and start at the source.

[ThaSaltCracka]

[ QUOTE ]
, but you may be competing with the bank to get it at a super-cheap price, 'cause they want what's owed them as well.

[/ QUOTE ] most banks make their initial bid one dollar more than whats owed to them. If you are the only one there, you can get it cheap, as the lender won't re-bid. I would try and contact a local foreclosure company. Where I use to work, we did foreclosures in WA, OR, and ID. But I know there are some large firms that do foreclosures in many states. Realtors are a good way to go as well, but for best results, go right to the source, ie the people actually handling the foreclosure process.

[Ray Zee]

a house gets forclosed on because its worth less than what owed on it. the people leaving ususally leave it in bad repair. you can find some from hud or such but most times the people bid too high for them. what you read in the papers isnt what really happens. i have bought a few and it isnt worththe trouble looking unless you accidently come on a good one. the time when they are good deals is in depressed areas. and that may not be where you want to live.
you can find a better deal by finding an owner that needs to sell and maybe even getting owner financing from him. just make lots of offers on houses that need some cosmetic work and sooner or later you will get one at the right price.

where to start is go to the local realtors multiple listing site and look at all the houses for sale in your price range. and look thru those magazines they put out. then go drive by as many as you can and get a feel for what houses are worth. then see a realtor and have him pick out ten or so good ones for you to get in and see. then begin to decide what you want.
i get my best deals thru realtors with the least work.