Foreclosure hunting

[CUD]

With regards to REOs, outside of looking on Redfin and other generic RE listing sites, are there other sources one can use to search for foreclosures? Are all foreclosures publicly listed? I get the impression that a lot happens privately.

I’ve seen a number of places that had apparently been purchased by corporate investors, remodeled, and put back on the market. Before being purchased by the investor, none of these houses were listed on the typical RE listing sites as mentioned above.

Aside from confirming that stuff happens privately, how does one go about pursuing and looking for foreclosures?

[poorsaver]

I think you are putting it nicely by implying some of these deals happen privately. I know for a fact that the hot deals are offered to the brokers and realtors first, and we the general public never have the slightest chance. Several years ago a realtor friend of mine bought a distress sale for roughly sixty percent of market value, way before the bubble. She told me that these deals just come along once in a while and even as realtors, you have to act fast before other realtors snap them up. So yes, I feel we are at a tremendous disadvantage when it comes to getting the killer deals. There are several foreclosure agencies, which of course charge a fee for their services, but I’m a firm believer that the really great deals are made way before they’re made public. It’s the nature of this evil business, and I don’t think there’s a damn thing we can do about it.

[poorsaver]

I think you are putting it nicely by implying some of these deals happen privately. I know for a fact that the hot deals are offered to the brokers and realtors first, and we the general public never have the slightest chance. Several years ago a realtor friend of mine bought a distress sale for roughly sixty percent of market value, way before the bubble. She told me that these deals just come along once in a while and even as realtors, you have to act fast before other realtors snap them up. So yes, I feel we are at a tremendous disadvantage when it comes to getting the killer deals. There are several foreclosure agencies, which of course charge a fee for their services, but I’m a firm believer that the really great deals are made way before they’re made public. It’s the nature of this evil business, and I don’t think there’s a damn thing we can do about it.

[poorsaver]

I think you are putting it nicely by implying some of these deals happen privately. I know for a fact that the hot deals are offered to the brokers and realtors first, and we the general public never have the slightest chance. Several years ago a realtor friend of mine bought a distress sale for roughly sixty percent of market value, way before the bubble. She told me that these deals just come along once in a while and even as realtors, you have to act fast before other realtors snap them up. So yes, I feel we are at a tremendous disadvantage when it comes to getting the killer deals. There are several foreclosure agencies, which of course charge a fee for their services, but I’m a firm believer that the really great deals are made way before they’re made public. It’s the nature of this evil business, and I don’t think there’s a damn thing we can do about it.

[poorsaver]

I think you are putting it nicely by implying some of these deals happen privately. I know for a fact that the hot deals are offered to the brokers and realtors first, and we the general public never have the slightest chance. Several years ago a realtor friend of mine bought a distress sale for roughly sixty percent of market value, way before the bubble. She told me that these deals just come along once in a while and even as realtors, you have to act fast before other realtors snap them up. So yes, I feel we are at a tremendous disadvantage when it comes to getting the killer deals. There are several foreclosure agencies, which of course charge a fee for their services, but I’m a firm believer that the really great deals are made way before they’re made public. It’s the nature of this evil business, and I don’t think there’s a damn thing we can do about it.

[poorsaver]

I think you are putting it nicely by implying some of these deals happen privately. I know for a fact that the hot deals are offered to the brokers and realtors first, and we the general public never have the slightest chance. Several years ago a realtor friend of mine bought a distress sale for roughly sixty percent of market value, way before the bubble. She told me that these deals just come along once in a while and even as realtors, you have to act fast before other realtors snap them up. So yes, I feel we are at a tremendous disadvantage when it comes to getting the killer deals. There are several foreclosure agencies, which of course charge a fee for their services, but I’m a firm believer that the really great deals are made way before they’re made public. It’s the nature of this evil business, and I don’t think there’s a damn thing we can do about it.

[jpinpb]

Become a realtor?

[jpinpb]

Become a realtor?

[jpinpb]

Become a realtor?

[jpinpb]

Become a realtor?

[jpinpb]

Become a realtor?

[Effective Demand]

All NOD and NTS as well as trustee’s deed are posted in the public records. Every REO goes through a process where it is sold at the courthouse steps. The homes you see getting bought before listed on the MLS are being bought at the courthouse steps.

Pay services like ForeclosureRadar and RealtyTrac track and aggregate the data for you. There are posting sites like fidelityasap and priority posting which publish NTS and opening bid data.

If the property wasn’t distressed before being purchased it was probably just investors door knocking or putting out bandit signs (“we buy ugly houses”) and buying the house cheap off the owner.

[Effective Demand]

All NOD and NTS as well as trustee’s deed are posted in the public records. Every REO goes through a process where it is sold at the courthouse steps. The homes you see getting bought before listed on the MLS are being bought at the courthouse steps.

Pay services like ForeclosureRadar and RealtyTrac track and aggregate the data for you. There are posting sites like fidelityasap and priority posting which publish NTS and opening bid data.

If the property wasn’t distressed before being purchased it was probably just investors door knocking or putting out bandit signs (“we buy ugly houses”) and buying the house cheap off the owner.

[Effective Demand]

All NOD and NTS as well as trustee’s deed are posted in the public records. Every REO goes through a process where it is sold at the courthouse steps. The homes you see getting bought before listed on the MLS are being bought at the courthouse steps.

Pay services like ForeclosureRadar and RealtyTrac track and aggregate the data for you. There are posting sites like fidelityasap and priority posting which publish NTS and opening bid data.

If the property wasn’t distressed before being purchased it was probably just investors door knocking or putting out bandit signs (“we buy ugly houses”) and buying the house cheap off the owner.

[Effective Demand]

All NOD and NTS as well as trustee’s deed are posted in the public records. Every REO goes through a process where it is sold at the courthouse steps. The homes you see getting bought before listed on the MLS are being bought at the courthouse steps.

Pay services like ForeclosureRadar and RealtyTrac track and aggregate the data for you. There are posting sites like fidelityasap and priority posting which publish NTS and opening bid data.

If the property wasn’t distressed before being purchased it was probably just investors door knocking or putting out bandit signs (“we buy ugly houses”) and buying the house cheap off the owner.

[Author]

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