There you will find all of hte foreclosure listings free of charge. There is a TON of information on the net about what pitfalls to avoid when dealing with foreclosures.
Real Estate Consultant
RE/MAX Palos Verdes
You can find a great deal on a foreclsoure in Los Angeles. This market is open to everyone, however you have to be patient and ready to act when the time comes. We work with many foreclsoure properties and can help you find the right property in Los Angeles areas.
We have a free list of foreclosures updated every Monday, sorted by zip code on our website at http://mylarealestategroup.com/foreclosures___investments-c5 .
You can also search the MLS on your own there too.
Feel free to find out more about us and what we do.
You can contact us with any questions you may have.
Good Luck to you
Lou and Alex
LA Real Estate Group
In fact - there are FHA loan programs designed SPECIFICALLY for fixers. Look at the FHA 203(k) options.
Simply saying "FHA doesn't allow that" - is not nessicarily totally wrong - but it is not the entire story either.
In the right circumstances - the 203k loans can be a HUGE benefit to buyers.
Investors have a much easier time with foreclosures because they have the liquidity to simply cut a check on the right property, at the right price. Banks like that - a lot.
If you notice - i said, on the right property, at the right price.
A lot of people assume that because a property has been foreclosed, you can just toss out some 80% discounted price, and the banks with thank the heavens for your low-ball bid.
This isn't the case.
There is a lot that goes into pricing foreclosures - and even more that goes into identifying which properties represent the best opportunities.
It is possible for the average person to get a great deal on bank owned property. However, do yourself a favor, and enlist the assistance of an expert in this field. Be prepared for a drawn out, sometimes frustrating, sometimes downright unplesant experience. You may get offers rejected several times for no reason. You may get an offer rejected, only to see the price drop below your offer. You very well may begin to question whether or not banks are truely qualified to deal with large sums of money. That's just part of the game.
Good luck! :)