Foreclosure Web Site?
Foreclosure web site????????
Hi my name is Brandon I have been investing for a 1year and a few months now. Me and my partner have been buying distressed homes and fixing them up and resale. Currently we have been looking into court auctions on foreclosure homes. Are any of the web sites that promise up to date lists of foreclosure homes for 20 bucks a month worth the money? A friend told me that you sign up for most of these and they end up just giving you an agent’s # for contact info on the properties that are listed. I do not want to work with an agent we want to buy these homes on our own. Any feedback would be greatly appreciated 
My experience has been that you want to use an agent. A specific agent....the agent that gets the REO/Foreclosure listings. It's simple, the agent knows the most about the home and has done a BPO and submitted to the bank how much they should price it at. The bank then gets a third party appraisal which is 9 times out of 10 higher than what the BPO said so they price it with the higher price.....well, if there are no takers for the appraiser's value, the agent will tell you where they think you should offer and the banks will most of the time go with what the BPO said. I hoope this makes sense to you. The Realtor that has the REO listings wants to sell the house too, so he/she will help you above all others.
Go to http://www.mortgagecontent.net/reoSearchApplication/fanniemae/reoSearch.jsp
and search for your state and city and see which agent gets Fannie Mae's foreclosures...then call that brokerage and ask them for an agent. Trust me, you will get way more deals done that way.
Hi Brandon:
I am a mortagege broker and I work with people across the country I currently know of three comes that are in forclosure 2of which they are looking to sell than lease to buy. The other one is looking to sell if you want more info let me know see if we can get in contact and if you and your partner is interested.
Thanks
Ziggy
Brandon:
I'm not sure which State you are working in, but have you tried going to the county courthouses where you wish to do business and simply subscribing to the foreclosure lists?
They are very inexpensive and here in Colorado, most counties fax them out weekly. It puts you way ahead of those who want to charge for the same service.
Larry
**Please See My Profile**
thanks for the info. I am not sure if there is just one foreclousure list at the court house, because there are many different trust companies that show up. We have got a website from a couple of the trust companies that gave us enough homes to research for the up and coming week. But I some of the info seems harder to obtain from these trust companies as far as getting a list pre auction.
also to JW I live in WA state I will check into this list you are talking about thank you
BPO - Brokers Price Opinion
You can always go to My TCI.....Tools and look up abbreviations there. Take care and good luck investing
right.....but for the past 8 months it should stand for "Waste of Time" because the banks don't listen most of the time.
Try www.realestateforeclosures.net
It work great for me.