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I am always hearing about all of these foreclosed homes, and how you can buy one at a fraction of the price of a normal home. However, I am clueless on how to obtain a list of foreclosed homes. I am in the beginning stages of house hunting, and would like to know where to start. Thanks

7 Thoughts on How do I find foreclosed homes in my city without paying for them?
  1. Reply
    grandma of 5
    March 18, 2013 at 7:49 am

    you always have to pay something even if it is back taxes

  2. Reply
    frak1a12345
    March 18, 2013 at 8:49 am

    Ask a local realtor. The banks turn over their foreclosures to realtors to market them. There will usually be be one agent in each office that handles foreclosures. Be aware that different banks turn over their REO’s to different realtors so check with several different realtors to get the broadest range of foreclosures.

  3. Reply
    bensellsnwa
    March 18, 2013 at 9:27 am

    You should probably contact a Realtor in your area that specializes in foreclosures and REO (real estate owned) properties. You can also call local banks mortgage department and they will be happy to give you a list of the foreclosures they have in inventory. There are websites where you get can foreclosure information but you have to pay for most of them. Let me know if you would like a referral.

  4. Reply
    ibu guru
    March 18, 2013 at 10:01 am

    You will have to go the various government websites like HUD and FHA and search their listings. This is the source of a lot of the foreclosed homes listings that you pay for.

    Alternative: find a realtor who is authorized to handle HUD/FHA foreclosure properties, and have them show you the ones in your area.

  5. Reply
    davem
    March 18, 2013 at 10:54 am

    Just about every realtor is offering free listings of foreclosed homes so all you have to do is ask for one. If your afraid you’ll be given some kind of sales pitch to work with them it won’t cost you a cent as buyer’s agents get paid by the seller. Just make sure he/she is competent and has some experience dealing with foreclosure properties.

  6. Reply
    Jason B
    March 18, 2013 at 11:02 am

    You have a lot of learning in the field of foreclosed homes. First issue is if you have the ability to get approved for a loan. Not just any loan. A 203K loan will give you cart blanca to be approved for what ever house you would come across. This is a loan that will allow for you to do rehab on a house if needed. A lot of foreclosures need work to make them mortgage worthy. Regular loans are fine but if house needs work that will affect the mortgagability then you are done.
    The list of foreclosures can be obtained from any realtor under the REO (Real Estate Owned by the bank) of the multiple listing. This is when the house went threw the foreclosure was then delt with by the bank and then listed for sale. BORING
    The way to make real money is to buy the house on the court house steps. That is another story for another day on all the ins and outs that come with HIGH RISK HIGH REWARD buying on the court house steps. The legal section of any newspaper will show you the first stage of a foreclosure. It will give the time and date of the sale. Senior Loan officer and foreclosure expert all 50 states [email protected]

  7. Reply
    Bob
    March 18, 2013 at 11:41 am

    There is a website that keeps adding information on foreclosers all the time. You can also use RealtyTrac and foreclosure.com (free trial) on the site. http://www.realestateofficestore.com

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