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FOR BUYERS Buying A Pre- Or Post-Foreclosure Property?
Pre-Foreclosure So, where do you find out about properties in default? Contacting us is a good place to start. You can also check the default registry at the local courthouse. These days, you can also take advantage of a number of national databases online – often for a fee. Check on eBay or simply search "foreclosure listings" from you Internet browser. While you’ll find more post-foreclosure listings the defaults on these sites, you’ll also find a wealth of information about buying foreclosure properties. Post-Foreclosure Although REOs typically sell at less of a discount than properties at auction, these properties are more accessible to buyers and the purchasing process is easier. You can still find some great deals in the post-0forecloure market, since the lenders would rather get these home "off the books" than continue paying carrying costs for them. For government owned homes, start your online search at: www.HUD.gov. From the menu on the left, search "HUD homes" for sale. And from the "HUD Homes" page, you can find homes for sale from Fannie Mae, IRS, VA, Department of Agriculture and more, under "Listings from other agencies," found below the green "Related Information" bar on the right side of the page. Be sure to call us if you have any questions about buying foreclosed properties or if we can be of further assistance.
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Homeowners who default on their home loans often want to sell their properties fast- before their lender forecloses and puts the home up for auction. Sometimes, these properties will sell at a price well below market value to attract a quick contract, but those in good condition and/or in a desirable area are likely to sell closer to market value.
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