Oh, they’re out there. But quick online searches reveal lots of questionable companies posting old listings or charging big bucks for them.
Sometimes, after a bank has already bought properties back on the courthouse steps, it will hold another auction to try to move several properties at once.
Some banks list their inventory of properties on their websites. They will know how to target the bank-owned properties that are posted on the Multiple Listing Service.
The real estate website Zillow.com lists properties for sale and lets you filter your home search to look just for foreclosure properties.
Hudson and Marshall
Click HERE for more advice on buying foreclosed homes.. The site offers a one-week free trial, then it’s by subscription.
If you’re interested in trying to save money by buying a foreclosed home, half the battle is finding the listings. Roughly a quarter of the homes on the market right now are bank-owned. (Do it this way to avoid fake auctioneers and auctions.) Then check those auctioneers’ websites for listings.
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Click HERE for a list of the 10 states with the deepest discounts on foreclosed homes.
Williams and Williams
REDC (Real Estate Disposition Corporation)
Here are some legitimate options:
RealtyTrac.com is a foreclosure education and listing service. Three of the biggest auction companies that do these bank-owned property auctions are:
Hire a buyer’s agent who specializes — or at least has experience — in foreclosed homes. It’s just another way of marketing a property. One way to find these lists is to search the name of the bank and the term “REO,” which stands for “Real Estate Owned” and means bank-owned.
Look in the legal notices pages of your local paper to spot legitimate auctioneers advertising courthouse steps auctions in your area