How do people find repossessed and forclosed homes really cheap?

Question

Is it really possible? You see it on tv but where do you actually find them?

Answer 1

You can go on various websites but they usually try and charge you a membership fee.

I went to a real estate agent and he showed me bank owned properties of which I bought one and got a great deal!

My comps were over $35,000 to $52,000 more than what I paid, and all I have done is paint and put carpet in and I have added a minimum of $35,000 value in two months. (this is really true)

There are deals out there if you keep your eyes and ears open.

Answer 2

Find people like me who are selling these properties wholesale.

REO "foreclosed" properties are rarely offered for cheap. Banks usually list them just below market value. Usually investors negotiate with the bank to get a better deal.

Find the investors that sell homes wholesale.

Answer 3

My real estate firm handles many of the foreclosures in our five county service area. Of late, we've been averaging more than one per day arriving for disposition.

These properties are marketed at very close to market value for similar properties. The longer they remain unsold, the more willing the lenders seem to be in reducing prices to dispose of the unit.

These properties range in condition anywhere from close to mint shape to "Don't bother to ask for a key to get in to look at it. The former owners took the patio door with them."

Good luck !

Answer 4

verify with cellular domicile sellers. they now and again take up used properties in commerce. an outstanding source might want to be freight organizations specializing in shifting, setting up and dismantle of modular homes -- no longer in simple terms cellular properties yet commercial modulars. they typically have contacts with banks and private loan organizations about repos or maybe delivers of 'loose in case you flow it' cellular properties. no longer confident you'll hit upon a information superhighway website that provides those form of bargains on cellular properties. Make acquaintances with someone contained in the biz to discover aspects for the perfect bargains.

Answer 5

check the courthouse records. homes are sold at auction once monthly at your county courthouse. you can call them to find out how to go about doing some research on the upcoming properties.

Answer 6

It is a very daunting task, but what makes you think that people have spent hundreds of hours doing research and they are going to go ahead and posted for the entire world here at yahoo...........OK you convinced me...lol

http://www.all-foreclosure.com/foreclosures.htm