Foreclosed Homes?

Question

Can anyone tell me good and free websites, which you can search Foreclosed Homes on? Thanks.

Answer 1

Banks list their homes thru licensed Realtors. The best way for you to find an REO property is to contact a Realtor who is experienced in acquiring these types of properties. Keep in mind, the Listing Office represents the Seller...in this case that would be the bank. They are obligated to get the best price FOR THE SELLER. Find yourself a good BUYER'S agent. By ALL means, hire a professional inspector to make sure you are not buying an expensive problem!

If you are looking for a good real estate deal, REO's are not always the best way to go, at least that would be true in today's market. Most of them are over-priced for the condition they are in, many are not financeable due to defects. That goes double for HUD-owned properties.

Answer 2

We purchased a foreclosed residence and financed it. No main issue. Things to take into account. If the residence isn't inhabitable, you cannot get FHA/VA financing. Conventional financing will also be in query. Get a apartment inspection. A foreclosures normally implies that the earlier proprietor could not have the funds for the loan - main to the likelihood that the earlier proprietor could not have the funds for to preserve the estate. Our residence was once ninety eight% transfer-in able, simply needed to repair 2 minor electric disorders and exchange all the ceiling furnishings. There is not an excessive amount of cash to be made (curiosity for the financial institution) on a $30k loan. Don't recognize in the event that they might be watching to finance your residence. Talk with a lender, they're going to deliver you the one reply that is usable. You will have to speak to a lender and observe for a loan earlier than watching for a residence. Get permitted in your loan. Like any mortgage, you'll be able to need to have your credit score checked. Then do not anything to expand your debt load till after final. That means, you will not be watching at properties for that you could not get a loan. Almost all people does qualify for a $30k loan. When you do uncover the residence you desire, then entire the transaction. There's plenty extra to take into account. How will you've got the estate deed drawn up? Joint Tenants with Right of Survivorship? This is wherein the loss of life of 1 proprietor will outcome within the survivor taking ownership of the estate and not using a will or probate. Joint Tenants in Common is wherein each and every character owns a percentage of the estate. That character can promote their percentage with out telling any of the opposite house owners or requiring their permission, or they may be able to cross their percentage directly to their heirs or someone else via a will (requiring probate). Then there are unknowns. What is the likelihood of you and your fiance staying in combination? Excellent I presume. But if matters flip bitter, how the deed was once recorded could make the estate switch an limitation. I've visible many questions about Y!A wherein loving couples (and even peers) get a divorce then they have got questions approximately estate they have bought in combination. Now it take a attorney and a pass judgement on to straighten matters out. And most likely, some of the folks will factor the department is bigoted.

Answer 3

If you want a free list of foreclosed homes in your area, go to your County's Sheriff's website. They will have a free list of property sales and foreclosures that are being offered for auction. If for some reason your County does not have the list on-line, call them and they will give you one for free.

Answer 4

"bankhomesdirect.com" I use it, it is free just sign up and easy to navigate. You can search by zip code , city etc, Hope this helps you, have fun...Oh after you use the site then take that address to"zillow.com" and enter it here and it will tell you a property value for that property. Enjoy!!!