Banks don’t sell their foreclosures (called REO’s – real estate owned) direct, they list them with Realtors. It won’t cost you anything to work with a Realtor because the seller pays the commission. In the mean time check http://www.realtor.com. Most MLS listings are uploaded to that site. The vast majority of foreclosures are FNMA (Fannie Mae) owned and you need to know that before you can make an offer on a home, you must have mortgage approval or proof of funds. Fannie Mae won’t look at an offer if that information isn’t included.
Foreclosure home websites arent’ worth looking at for free, they sure are not worth paying for. They are notoriously inaccurate and do not update the content regularly, so much of what is on there is wrong.
Banks do not sell their foreclosure homes to the general public, you buy them through the typical channels, Realtors. Every foreclosure house in my area is sold through a Realtor. Most offices will provide you a list of houses for sale in your area that are bank owned (REO, in REspeak). But it is a bit foolish to limit yourself to foreclosures, there are plenty of good deals out there, and not all are bank owned. And dealing with a bank can be a PITA, so just look at houses, don’t think you are going to get some screaming deal on a foreclosure because the banks want to “clear the books” or something, it does not happen that way.
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Banks don’t sell their foreclosures (called REO’s – real estate owned) direct, they list them with Realtors. It won’t cost you anything to work with a Realtor because the seller pays the commission. In the mean time check http://www.realtor.com. Most MLS listings are uploaded to that site. The vast majority of foreclosures are FNMA (Fannie Mae) owned and you need to know that before you can make an offer on a home, you must have mortgage approval or proof of funds. Fannie Mae won’t look at an offer if that information isn’t included.
realtor.sailor
Foreclosure home websites arent’ worth looking at for free, they sure are not worth paying for. They are notoriously inaccurate and do not update the content regularly, so much of what is on there is wrong.
Banks do not sell their foreclosure homes to the general public, you buy them through the typical channels, Realtors. Every foreclosure house in my area is sold through a Realtor. Most offices will provide you a list of houses for sale in your area that are bank owned (REO, in REspeak). But it is a bit foolish to limit yourself to foreclosures, there are plenty of good deals out there, and not all are bank owned. And dealing with a bank can be a PITA, so just look at houses, don’t think you are going to get some screaming deal on a foreclosure because the banks want to “clear the books” or something, it does not happen that way.