How to find foreclosed houses for sale.?
July 26th, 2010
What’s the best way to find foreclosed homes for sale without having to deal with Real Estate Agents?
Regardless of how you find foreclosed properties, you will end up dealing with real estate agents anyway. The only lenders who will deal directly with buyers are smaller local banks which have kept the mortgage "in house" and have not resold the loan.
The big lenders (Wells Fargo, Bank of America, Deutsche, etc.) all dispose of their foreclosures through local area real estate brokerages. While you can find lists of their owned properties on their websites, you will be directed to the listing agency for further interest. Understand that over 95% of foreclosed properties are handled by real estate agencies.
The nationwide lenders simply do not want the hassle of dealing with buyers in fifty states, all of which have varying degrees of differences in real estate rules, documents, etc.
July 27th, 2010 at 2:43 am
Go to your bank and see if you qualify for any homes they have had to foreclose on!! good luck! Also try http://www.bankhomeforeclosures.org/
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July 27th, 2010 at 3:20 am
Regardless of how you find foreclosed properties, you will end up dealing with real estate agents anyway. The only lenders who will deal directly with buyers are smaller local banks which have kept the mortgage "in house" and have not resold the loan.
The big lenders (Wells Fargo, Bank of America, Deutsche, etc.) all dispose of their foreclosures through local area real estate brokerages. While you can find lists of their owned properties on their websites, you will be directed to the listing agency for further interest. Understand that over 95% of foreclosed properties are handled by real estate agencies.
The nationwide lenders simply do not want the hassle of dealing with buyers in fifty states, all of which have varying degrees of differences in real estate rules, documents, etc.
References :
July 27th, 2010 at 4:00 am
Acermill is 100% correct. I would just add that if you plan to buy a foreclosed home, you need to know that you must have mortgage approval before you can submit an offer to buyer. FNMA will not look at an offer if mortgage approval or proof of funds isn’t included with the offer.
By the way, it won’t cost you anything to work with a Realtor because the commission is paid by the seller.
realtor.sailor
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I’m a Realtor
July 27th, 2010 at 4:44 am
Check this site out for advice!
http://realhomesforsale.net
References :
http://realhomesforsale.net