How To Find Foreclosures
I am just getting involved in the foreclosure market and am looking for an efficient source of leads. Currently considering a foreclosure listing service website called foreclosurefind .. Is this a good idea for a beginner? Would I be missing out on getting "raw" information from some other source?
[ Edited by jumpingin on Date 10/23/2007 ]
most of the data on those sites are crap.
Look to search couty records, or use a commercial service or title company.
Hello Investor friend, I can tell what I do to get hot leads and people/sellers calling me to sell thier homes fast. I use small classified ads in my local free paper, with my 888 number for free info and my website domain address to collect thier info. I never have to cold call anyone, ever by using these methods.
You can also try what is called "bandit signs" in the industry. What you will need is some wooden stakes from home depot, very cheap. Colored board paper from Wal-mart and a staple gun with staples, $10bucks. Hand write your ad, using markers. Put up these homemade signs on busy intersections. I gurantee you will get calls. Check with your city first.
I hope that helps.
NRSWORKS
E.
[addsig]
Go to your local courthouse and ask which business review they publish their notices in. Subscribe to that paper.
It depends on the bank. I hear many banks are getting so inundated with REOs that with some it is taking 3-4 weeks just to get a reply.
Show "proof of funds" that you can PAY CASH or otherwise can arrange financing... and you are willing to put down a non-refundable binder.
You usually WILL get a prompt answer.
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I made an all cash offer on a house that was refused after 2 weeks. I increased by 2K and it took them a month to accept. The offer was rather low though and I mistakenly got sent some interoffice reports that showed they accepted a higher offer that was not all cash (but it fell through).
All of my REO offers have been all cash. Quickest a few hours. Longest 3 months.
Thanks for all of your advices![ Edited by martine411 on Date 07/12/2010 ]