Free Foreclosure Listings

How to Find Free Foreclosure Listings

By Hector Milla

The current economic conditions may be fertile ground for real estate investors with a futuristic view. In a weak economy, foreclosures are abundant, prices are all over the place, interest rates are low, and homeowners are eager to sell not to foreclose on the home. However, few buyers and a large inventory of homes are not the ideal conditions; so many homeowners have to succumb to foreclosure, despite the many programs available.

This is what real estate investors look for – foreclosed properties at a steal price. Banks might be overwhelmed with a large inventory of foreclosed properties, and certainly, trying to get rid of them fast – another side of a real estate investor’s heaven. However, investors are not the only ones to benefit from this bonanza, home buyers do as well, as they can snatch a large home in a desirable neighborhood at a much lower price. For this to happen it is necessary to look into foreclosure listings to see a variety of homes available. Although home buyers will be competing with investors, in this market there are plenty of foreclosures to explore and consider.

Finding foreclosure listings was harder in the past, and you had to be an investor to have better access to the information. However, thanks to the internet, anyone can have access to foreclosed properties listings. Finding free foreclosure listings may prove to be a challenge, and require a bit more of research. This can be done online. Here is how to do it.

An online search will give a nice amount of websites specialized in listing foreclosures. Most sites require a membership, but will also offer a trial period in which you can view some of the foreclosures available. Some to try are Foreclosure, Zip Realty, and Realty Track to start.

Visit your county clerk’s office to view public information on foreclosed properties. Research government listings for cheap houses, available sometimes for a few dollars. Many of these homes are in poor shape, but if you have the budget for it, you can fix them. Some people are able to buy homes for even $1.

Another option is to befriend bank officials and real estate agents who can make you aware of some great properties becoming available. This is a win-win situation for both sides.

Research bank listings as well. Many banks have listings of properties that are bank owned, also known as REO (real estate owned). Banks also need to get rid of these properties fast so they hire companies to help them with the sale of these properties. These companies specializing in REO properties are willing to negotiate deals with interested and qualified buyers.

These are just a few ways in which you can look for free listings on foreclosed properties.

NOTE: By researching and comparing the best foreclosure listings free services in the market, you will be able to determine the one that meets your specific requirements, plus the free or cheaper options including free trials.

Hector Milla runs the Free Foreclosure Listings With Pictures website, where you can see a review of the top 3 free foreclosure listing websites.