Your Questions About Foreclosures | foreclosureorder.com

Your Questions About Foreclosures

Your Questions About Foreclosures

Paul asks…

Where can I go on the web to see foreclosed homes?

My wife and I are intereseted in purchasing foreclosed homes and ‘flipping’ them. I need to find a reliable website that will show me foreclosed homes, and details on how to purchse.

Your Questions About Foreclosures

The Expert answers:

I don’t know where on the web you could go but you might want to call a realtor and ask if they have a list of foreclosed homes. You could call around to any area. You can find the real estate companies from www.yellow.com or search google maps in the location you are looking for and business would be real estate companies. They always know. Ask them to email you a link to their local foreclosed homes from the MLS database. They can but they might choose not to, they don’t like working for nothing.

Your Questions About Foreclosures

Lizzie asks…

What is the Best Way to Get a List of Foreclosed Homes ?

I am trying to find the best way to get a list of foreclosed homes in the Arizona area.

Your Questions About Foreclosures

The Expert answers:

Call your local Realtor

Your Questions About Foreclosures

Richard asks…

Where can I find a source to reveal how many foreclosed homes politicians are buying?

I’ll bet lots of them are buying up multimillion dollar foreclosed homes in conjunction with Fannie & Freddie and all the other bailed out banks.

This foreclosure disaster is a gold mine for them, their families, their supporters and lobbyists.

Your Questions About Foreclosures

The Expert answers:

While your at it see if you can find out what is in their portfolios and what green stock they are buying up with cap and trade in the near future! This administration is getting rich off Americans and they need to be stopped!

Your Questions About Foreclosures

Susan asks…

what are the best resources to look into for searching foreclosed homes?

what are the best resources to look into for searching foreclosed homes?

im looking to invest in new property/fixer uppers and I havent been in the business for a few years so Im a bit rusty when it comes to new resources. Do you know of any good websites that can help me find foreclosed homes ? any suggestions as to how to search for good ones?

Your Questions About Foreclosures

The Expert answers:

Check with your county for trustee sales. These are homes that are being foreclosed on and the information is public record. You can buy the properties for cash at the foreclosure sale. Catch is that you must bid more than what the default amount is (amount the borrower owes the lender; if you don’t bid more than the default, it goes back to the lender) and you usually must pay in cash. Also you probably won’t be able to see the property before you bid on it, so you’ll basically be going in blind.

You can contact some realtors in your area to see if any of them specialize in REOs (bank-owned homes).

You can look on some of the major banks’ websites as some of them have their REOs posted online (they are usually being marketed through realtors though).

You can search public property records to see if any of the owners are banks.

Your Questions About Foreclosures

Lisa asks…

Is it a good time to buy foreclosed homes?

I see adds every where and people after people selling book after book about buying foreclosed homes. Is this a really good time to buy or is it another person ripping people off?

I want info on this and who ever gives best info will get the best answer cuz I really want to know.

Your Questions About Foreclosures

The Expert answers:

Most of the time it is a rip off to sell their books and programs.

If you buy a foreclosed home, you pay the seller, the taxes and repair costs. (unless you know home repair or have your own company it can be guess work at best or a disaster waiting to happen.)
After settlement costs and than fix up costs than more settlement costs to a Realtor to sell it who is licensed in the State and bonded for screw ups, what is left is profit. If you have to pay contractors to do the repairs and a property manager to maintain the place till it is sold (unless you live in the same city) or want to commute every week to check on it – all this comes out of the profits.

It can be done – but flipping houses is not cheap and not always a profit if you get the wrong place.

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Your Questions About Foreclosures
Your Questions About Foreclosures
Your Questions About Foreclosures
Your Questions About Foreclosures
Your Questions About Foreclosures

Your Questions About Foreclosures

Your Questions About Foreclosures