I am having trouble getting listings, finding a trustworthy source, and getting a straight answer as to how I go about finding foreclosures.
2006-06-26 22:26:12 · 5 answers · asked by johnnycam 3 in Business & Finance ➔ Renting & Real Estate
There are three types of foreclosures and it depends on which you are interested.
Pre-foreclosure: when a house is in foreclosure, but the title is still in the current residents. No one really has a list of these properties, but it is public information. Anytime a lawsuit is filed, it needs to be printed in some sort of publication. a foreclosure is a civil lawsuit. Contact your county clerk of courts and ask them what newspaper they report all their filings to. Subscribe to this publication and you will be notified on day 1 foreclosure is started.
some individuals claim that banks will let them know about foreclosed properties ahead of time so they can try and negotiate with the current owner. If the bank notifies someone, it is a violation of their privacy and gramm leigh bliley act. I do not doubt it is done, but be careful.
The entire topic of short sales is being left out since that is not what you asked and is a long answer. I think you were looking specifically for options 2 and 3
Actual Foreclosure: The sheriff is auctioning off the property in the next coming weeks as a conclusion of the pre-foreclosure lawsuit. Every county is different in who does the auctioning, but here it is the sheriff. Again, your local clerk of courts can help you. Normally, you need to bring a down payment in cashier's check and close very quickly. Usually, there is not enough time to get a loan if it is not done already. Clerk of courts/sheriff, whoever is doing the selling usually carries a list of what is being auctioned.
After foreclosure, bank owned property (REO) - many banks simply give these listings to realtors. Contact a local realtor who deals with bank owned to email you a list on a daily basis as they become available. Not any realtor can help you with this, be specific that you want bank owned properties and someone who deals with them.
If you are in the Ohio area, I can help you, if not, feel free to ask more questions directly
Angelo Russo, Esq
Title Plus Services, LLC
www.titleplusservices.com
arusso@titleplusservices.com
21380 Lorain Ave
Fairview Park, OH 44126
440-895-0870
2006-06-27 02:11:23 · answer #1 · answered by Angelo 2 · 0⤊ 0⤋
forclosure is really a big business and more often than not, only those who are into it get the cream...so call your real estate agent to help you or if you dont have one, give us a call...we can be of help, we are foreclosure specialist!
626-6433771
2006-06-27 00:23:21 · answer #2 · answered by marce 1 · 0⤊ 0⤋
check out bank ads, or inquire from your local bank. Or go to an agent.
2006-06-26 23:48:04 · answer #3 · answered by mug 2 · 0⤊ 0⤋
Subscribe to property shark.com for lis pendings.
2006-06-27 12:50:59 · answer #4 · answered by thomas p 3 · 0⤊ 0⤋
if this is something you really want to get in to you will find this very helpful
http://andycaine.fedhomes.hop.clickbank.net
2006-07-02 11:16:45 · answer #5 · answered by Anonymous · 0⤊ 0⤋