Where do you find foreclosures?

[Anonymous]

Is there a separate listing or do they pop up on the MLS? I see them on MLS occasionally, but not often and I see a lot of 'foreclosure' companies out there.

[Anonymous]

Zillow

[Anonymous]

They do come up on the MLS if they are being sold that way. If they are being sold at auction you may not find them on the MLS.

I bought a foreclosure ten years ago. It was listed on the MLS just like any other listing. Because it was being sold by a bank they had a very specific contract and language that they insisted on using, it was sold as as-is and there was zero flexibility. Other than that it was just the same as any other purchase.

[Anonymous]

There are banks doing foreclosure sales, which are basically just regular sales with more restrictions as pp said (I think they even move faster than short sales), and then there are auctions of foreclosure properties, where the bank frequently just buys the property from themselves and then does a foreclosure sale. You don't even get to walk through the house for an auction, you just look at the property. I think the times and dates and locations are public information but I don't know where exactly you get them.

[Anonymous]

No one wants to live next to a foreclosure purchase. Buy where you can afford.

[Anonymous]

PP Why is that? We bought a foreclosure in DC that had been a flip gone bad. It's a lovely house, and has already appreciated nearly $150k since our purchase

[Anonymous]

Anonymous wrote:No one wants to live next to a foreclosure purchase. Buy where you can afford.

Please ignore this troll.

[Anonymous]

Anonymous wrote:

Anonymous wrote:No one wants to live next to a foreclosure purchase. Buy where you can afford.

Please ignore this troll.

Not to mention it's already a foreclosure - no one buying it is far worse than someone buying it, you just hope they are going to be great neighbors!

[Anonymous]

I would hope a builder would buy it and knock it down. It can only help the neighborhood.

[REALTOR4U]

Foreclosures are sold by two means. Auction at the courthouse steps or by a Realtor through the MLS. If you are a first time buyer or inexperienced with foreclosures, please buy one listed with a Realtor for your protection. If you buy at auction, you do not get to see the property nor do have the right to do an inspection and financing is nearly impossible as an appraiser can't gain access.
As for finding them, if you want an auction property, simply google foreclosure auctions at your preferred courthouse. If you want an MLS listed property, talk with your Realtor or message me and we can create a custom search based upon your specific criteria to provide you with new listings as they become available.