Your Questions About Foreclosures | foreclosureorder.com

Your Questions About Foreclosures

Your Questions About Foreclosures

Laura asks…

Where can I find a LEGITIMATE free website that lists homes that are for sale that have been foreclosed?

Whenever I do a search, crappy sites appear that want my money. I want a list of forclosed homes in my area from a TRUSTWORTHY source. Thanks.

Your Questions About Foreclosures

The Expert answers:

Simply call a local real estate agent. Once a home has been foreclosed upon and ownership returned to the lender/bank, you will find that about 99% of them are listed with real estate agency brokerages for disposition.

There are a few smaller local banks which may not list their REO’s this way, and you would need to contact those banks to see what they have available in REO.

Your Questions About Foreclosures

Thomas asks…

Will a bank let you rent a foreclosed or bank owned home for sale?

Your Questions About Foreclosures

The Expert answers:

Not unless you are already a tenant and then you will probably be getting a notice very soon. Banks generally do not want to rent because they have to deal with Tenants which can be a major pain especially when your business is not set up to do so.
So the answer is 99% of the time…no

Your Questions About Foreclosures

David asks…

How do I find foreclosure listings?

I want to look at foreclosed homes for sale in my area, but don’t want to go through tons of scam sites to find them. I also want to avoid paying for a listing, if I can.

Your Questions About Foreclosures

The Expert answers:

Any local realtor will know all of those properties. They are also listed in the country courthouse since foreclosure proceedings go through the courts.

Your Questions About Foreclosures

Maria asks…

Any free real estate websites out there?

I might be looking for a home soon and through my recent searches over the internet i have found that most websites involving real estate it costs a monthly or yearly fee for viewing homes for sale. This is especially with foreclosed homes for sale. So my question, does anyone know a website where one could view homes listed for sale ( and foreclosed homes) for COMPLETELY FREE? Your answers are greatly appreciated.

Your Questions About Foreclosures

The Expert answers:

It depends on your abilities and needs. It sounds like you are looking for foreclosed homes. If so, I’m going to disagree, well maybe disagree, with most of the answers here.

If you plan on buying at a standard closing, getting a mortgage on the home at time of closing, have a HUD-1, and all the niceties, then yes, a broker is your best bet, and there are a ton of free sites mentioned here for brokers. I’d also add http://www.buyowner.com/ . And you can get a good deal here, especially in today’s market.

HOWEVER, if you are looking for the real bargain, you are not likely to find them there. Most real bargains require research, hard work, money, and risk. You will have to purchase your home at a courthouse or similar sale site and will have to have a substantial down-payment on hand and have to pay the balance usually in a day or two BEFORE obtaining title. The sale sometimes can be reversed (usually due to error or bankruptcy) due to which you may also lose a percent or two of your price to clerk fees and the refund of your money may take some time. You don’t get to inspect the house before you buy. There may be a lot of repairs to do once you get title. You may end up in litigation. You need to do your own title search (or hire them out, but this becomes expensive as most you look at are not going to pan out). The first place to look for these is in the newspaper.

Not your local rag, but in a special paper most people don’t read, the legal paper. Often something called something like “The Business Review.” It cost about the same as a regular paper, but only has legal notices and your local legal community uses it to fulfill their legal requirements to “advertise” a sale. It is from such newspapers that most of these “Foreclosure Lists” are compiled (other the Realtor MLS ones). It’s not exactly free, but a lot cheaper then those lists. And it’s from a legitimate source.

So the safe way, by far, is a Broker through the MLS. The riskier, but more profitable way is the local legal paper. But check with your local Clerk of the Court for details in your area. They can’t answer legal questions, but they can tell you the procedure in your locale.

Your Questions About Foreclosures

Richard asks…

When your house gets foreclosed on,is it true that your house has to be on the foreclosure list?

My house got foreclosed on June 15th 2009.And we didn’t even go threw that bank anymore and they still sat our stuff out because we didn’t have proof,that we didn’t go threw them anymore.And three months later the house is not on Foreclosed Homes,Bankowned Homes,For Sale Homes,or the For Rent list.And nobody is living in that house.Somethings up big time,what do yall think?
My house got foreclosed on June 15th 2009.And we didn’t even go threw that bank anymore and they still sat our stuff out because we didn’t have proof(that we didn’t go threw them anymore).And three months later the house is not on Foreclosed Homes,Bankowned Homes,For Sale Homes,or the For Rent list.And nobody is living in that house.And we never got a eviction notice,they just came up and said they was kicking us out.And get this i lived in Floyd County,Georgia,and when they called the cops Polk County(the next ciunty over)came.And they can’t do that because it’s out of their juristdiction.And yes i do know what i,m talking about.I may be 15 but i am very smart and nothing gets passed me.So somethings up with all of this,my whole family is even saying it even our lawyer.What do yall think?

Your Questions About Foreclosures

The Expert answers:

I think they are waiting until the redemption time has passed before they unload it. No big deal, standard operating procedure.

I do not know what you are talking about proof. Either you paid off the loan or you didn’t.

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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