Free home foreclosure listings are available as long as you know, where to find lists of foreclosure at no cost. The lists that you pay for do a great deal of advertising and are usually easy to find.
Yet, searching for a foreclosure in good condition and that matches what you want, may take looking through several lists. With the all the high costs involved with buying properties, why not save some money and use free home foreclosure listings? Here are some tips on where to find lists of foreclosures at no cost.
The Local Realtor
Whether you are going to buy a foreclosed home for your own personal use, invest in rental properties or quickly reselling it, a local realtor usually has an updated list of these properties in their immediate area. Thanks to the internet, real estate agents can frequently receive daily listings of all houses for sale, including foreclosures. They will use this to find something close to what the buyer wants. Since a lot of the foreclosed homes are in fair to excellent condition, any repairs needed can be used to bargain for better prices.
REO Listings
REOs, real estate owned by banks are repossessed foreclosed homes. Banks do not advertise their lists since they do not want to be in the business of selling homes. The homes on their lists may also be in fair to excellent condition. These free lists may get passed to local realtors that request them.
However, anyone can ask for them from a bank for no charge. Banks want to get these properties off their accounting books as soon as possible and will mostly likely be glad to give them to an individual that is not a realtor.
HUD Listings
HUD, Federal Housing Urban Development government program, receives frequent updated foreclosed property lists from private banks and mortgage lenders, along with their sponsored agencies Fannie Mae and Freddie Mac. There is a huge number of free home foreclosures on these lists, usually more then from banks and realtors. If you are interested in quantity, HUD listings are an excellent source for getting free home foreclosure lists.
However, even if their site is where to find lists of foreclosures at no cost, the REO and realtor foreclosed homes are often in better shape. This is important since the HUD free home foreclosure listings typically can require significant repairs before moving in.
Comments on this entry are closed.