# Foreclosures



## Teri (Jan 13, 2003)

Can someone tell me how I can look at foreclosed properties on the internet without paying to join one of those foreclosure sites?
Thanks, Teri


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## mountainwmn (Sep 11, 2009)

For the most part they are listed on realtor.com, just like anything else. At least here they are. There used to be a website for hud foreclosures in a few states, but it has been down for a few months now. Also, if youre working with a good realtor, they should be able to direct you to any sites they use in your area.


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## Parttimefarmer (May 5, 2011)

You can also try Homepath, which is the Fannie May site. They are all foreclosures.


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## Cyngbaeld (May 20, 2004)

https://www.bidselect.com/?siteid=62400


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## grandmajo (Mar 25, 2008)

If the county that you're looking for property in has a website for it's auditor, try there.  That's how I found our soon to be new home. I went to our auditor's website and started typing in the names of local banks. There's a couple of advantages to doing this. First off, you can see how much the bank paid for the property at the sheriff's auction and make your offer accordingly if you like the property. Second, sometimes you can deal directly with the bank if you can catch them before they turn the property over to a realtor. This is what we did and it probably saved us several thousand dollars, since the bank didn't have to pay realtor fees and such.


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## AngieM2 (May 10, 2002)

http://hudhomestore.com/HudHome/Index.aspx

this might help some.


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## jconde (Sep 13, 2010)

You might want to try Trulia. http://www.trulia.com/ I believe you can search the area and from there filter
on the left.


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## oregon woodsmok (Dec 19, 2010)

HUD has all of theirs listed on their web site.

All bank foreclosures are sold through real estate listings. I think that is required by law, because all banks do it that way. So you can search on Realtor.com

If you have a specific area in mind, find and agent and ask to be put on their mailing list for properties that meet your criteria.

Do not waste your money on those sites that charge a fee.


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## oregon woodsmok (Dec 19, 2010)

Oh, yes. Most banks have a web page with their foreclosures. You have to search bank by bank.

Farm Home Loans (federal) has all their listed, you can access that through HUD site.

Don't forget to check the counties for tax sales.


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## Terri in WV (May 10, 2002)

Search REO properties. You can also go to the big lending co's sites and search through them. They'll have 100's listed, by state. Here's the government site that I check out often www.resales.usda.gov
I also go to these on occasion but don't know too much about them
www.gohoming.com
www.auction.com


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## Waiting Falcon (Nov 25, 2010)

try 

www.emailforeclosures.com they are not always up to date but you can double check with Trulia or zillow


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## grandmajo (Mar 25, 2008)

oregon woodsmok said:


> All bank foreclosures are sold through real estate listings. I think that is required by law, because all banks do it that way.


No, you can deal directly with the bank, at least in Ohio. We bought our new property directly from the bank in December. They were thrilled to get rid of it without having to pay a realtor's commission.


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## Teri (Jan 13, 2003)

Helpful info. Thank you all!


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## Quiver0f10 (Jun 17, 2003)

grandmajo said:


> If the county that you're looking for property in has a website for it's auditor, try there. That's how I found our soon to be new home. I went to our auditor's website and started typing in the names of local banks. There's a couple of advantages to doing this. First off, you can see how much the bank paid for the property at the sheriff's auction and make your offer accordingly if you like the property. Second, sometimes you can deal directly with the bank if you can catch them before they turn the property over to a realtor. This is what we did and it probably saved us several thousand dollars, since the bank didn't have to pay realtor fees and such.


Thank you for this info.


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## ChristieAcres (Apr 11, 2009)

Teri said:


> Can someone tell me how I can look at foreclosed properties on the internet without paying to join one of those foreclosure sites?
> Thanks, Teri


c

Just a heads up; in most places you can get Short Sales FOR WAY LESS than Foreclosures.  They take some patience, but are worth it, for the $$$ you save. I am a Managing Broker in WA, and I've had some of my Buyers save $50K more than they would have, had they waited for that same property to go through the Foreclosure process. One of my neighbors paid $75K too much for their property, since Foreclosures, owned by Banks, are often listed higher than Short Sales go for here, and many other places. I don't know what the market is like where you are, but for folks trying to get from under a house before it goes back to the bank? They are grateful to get it sold! If it is a 2nd home, they are ecstatic to get it sold. Be sure and check out buying a home via that angle, too.


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## Nevada (Sep 9, 2004)

Teri said:


> Can someone tell me how I can look at foreclosed properties on the internet without paying to join one of those foreclosure sites?
> Thanks, Teri


To be accurate, commercial foreclosure sales don't really offer foreclosures, they offer bank REOs. While different states handle foreclosures in various ways, the lending banks normally take possession of the property at a public auction. Public auctions offer true foreclosure properties and are free to attend.

The attraction of foreclosure properties is that you can assume risk in trade for lower purchase price. There is no opportunity to inspect true foreclosure properties, and they are sold as-is with no warranty on a strictly cash sale basis. Bank REOs and short sales are subject to inspection, so the element is risk minimized. There is also the opportunity to arrange financing for bank REOs & short sales. However, the bank is going to try to get as close to market value as they can for bank REOs and short sales. It's reasonable to expect to get a property for 2/3rds or even half market value at a public foreclosure auction or trustee sale.


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