Your Questions About Foreclosures | foreclosureorder.com

Your Questions About Foreclosures

Your Questions About Foreclosures

James asks…

How can I find foreclosed homes without having to become a member of a site?

I want to find a list of foreclosed homes in my region for free.

Your Questions About Foreclosures

The Expert answers:

The foreclosure sites are notoriously inaccurate, do not waste your money. I have a client that subscribes to one, she routinely wants to look at houses that are not even bank owned yet, or they have not been updated and have long ago been sold.

Your Questions About Foreclosures

Thomas asks…

How to discourage burglars from breaking into foreclosed homes?

Right now, Florida is doing terrible in the foreclosure market. Seeing as my occupation is for a Corporate Insurance Company, I am looking for ways to discourage burglars and thieves from breaking into vacant homes which have been foreclosed by the bank or are under claims investigation.

Some ideas: Installing “fake” camera domes.
Thank you for your answers thus far.

However, a few stipulations:

It is law that the foreclosure and winterization signs stay on the windows.

The properties are actually maintained by a maintenance management company.

Dogs and renting of the properties are prohibited.

These are homes owned by the bank, awaiting claim(s) repair for resale. No electricity and/or water are working in the household nor will they be.

Under these circumstances, the question becomes a lot tougher.

Your Questions About Foreclosures

The Expert answers:

This will be difficult if the power and water has been turned off.

I know there are notifications and such required, but hanging the “this house has been disconnected from utilities” signs hanging on the front door just screams “break into me – I’m a foreclosure house!”

And you cannot install an alarm system or put lights on timers if there is no electricity. I don’t think the fake camera domes would do anything because thieves know the electricity is off.

I know of one Realtor that got a pound dog and put him in a house that she had listed at night because squatters were going in there alot. Probably not practical for corporate America.

It is a great question, I hope you get some good answers because this is a problem all over.

EDIT: If you have to abide by these conditions, you are screwed. You cannot install alarm systems, have lights on timers, have a sprinkler system kick on once in awhile, have cameras installed – nothing. Unless you can find some chintzy stuff that is battery powered, that no experienced thief will take seriously, you cannot beat the thieves. You could hire a security company to cruise by the house, but the chances of that being effective are about as good as my chances of hitting the power ball.

Your Questions About Foreclosures

Paul asks…

What is the best way to go about finding foreclosed homes in my area?

I would like to find out how to buy foreclosed homes and repo homes in my area.

Your Questions About Foreclosures

The Expert answers:

By law every single foreclosure must be listed in a local news publications, this is the first source — although this method requires an all cash transaction, it is the cheapest method to aquire foreclosures.

Otherwise you may as well consult a Realtor and let them show you what is available, they are the next step after the court house sell.

Your Questions About Foreclosures

Linda asks…

Who is willing to finance foreclosed homes that I research and market?

You need to know I have never purchased real estate in my life, but for ten years have been dreaming about getting into real estate investing. I have recently taken a 24-hour mortgage broker course in Florida and plan to start a career as a loan officer and get licensed as a broker soon. I also plan to purchase foreclosed homes and re-sell them. I need a financer and possible mentor as I start on this venture. I have also read a lot of books, but just really need to do some real life purchasing and selling. I am extremely motivated!! If you’re patient and willing to mentor, I could help bring in a lot of funds. Thank you for your interest!

Your Questions About Foreclosures

The Expert answers:

SPAMMER ABOVE COULDN’T PAY CAB FARE…LOL

Your Questions About Foreclosures

John asks…

Does it seem like Foreclosed Homes are not in the forefront promoted by the Real Estate Industry?

The county I live in has over 6,000 foreclosed homes, yet they seem to try to fetch within 10% of homes for sales by owners (non-distress) and new home communities. Most foreclosed homes I’ve seen were torn up, ignored, out of date, and simply set aside and not promoted by agents who showed us properties.

Is this a trend?
Attitude being conveyed to members of the RE Industry? Banks not pressured for cleaning their books (or disinterested in having the homes in good repair & not truly discounting the Buyer because of the inconvenience?)

What is your spin on this?
Foreclosed homes use to be *desired* by Investors & general Home Buyers alike…

100807 3:40

Your Questions About Foreclosures

The Expert answers:

Foreclosures get a really bad reputation due to the fact that they are foreclosures. Not all of them are torn up and a lot of them are, in fact, listed with an agent. I’m an agent in TN and I have been working with a buyer looking at foreclosures. We found a great one, which was listed with another agent and was on the MLS (BTW, we found it on RealtyTrac) and we closed on it last Friday. I don’t try to push one property over another because it’s not about me. I’m not going to be living there, my client is, and it’s my job to advise and negotiate, not to see how much I can pad my pockets. However, there are a lot of foreclosures out there where the previous owners did a number on the home before vacating it, or the home was vandalized by people who saw the house was vacant. But there really are a lot of nice foreclosures out there and if you have a good RE agent negotiating on your behalf, you could come out way ahead of the bank. I actually got the bank to pay my buyers closing costs on top of getting a repair allowance and new appliances. Talk to a reputable RE agent. A good agent ALWAYS puts their clients best interests above their own everyday of the week.

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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