Foreclosure in 94115>Question Details

Luke Behnke, Home Buyer in 94123

How do I find foreclosed homes?

Asked by Luke Behnke, 94123 Mon Aug 8, 2011

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Hey there Luke-

If you're still needing help regarding foreclosures, don't hesitate to call or email. An agent would be the best source for REOs (via MLS) and can make the transaction much easier for you all the way around. Are you thinking of buying here in SF?

Thanks much.

Rich

Rich Bennett, Realtor
415.305.4911 cell

http://www.81Lansing208.com http://www.115-117States.com

Zephyr Real Estate
DRE#01358540
0 votes Thank Flag Link Sun Sep 18, 2011
Good blog on this very topic just yesterday:
0 votes Thank Flag Link Tue Aug 9, 2011
There's lots of nightmares out there about unlicensed or inexperienced folks trying to get in the foreclosure game just to save a few bucks on a commission. Not a good idea. Too many glitches and complications on most of these deals. We call it "Hair On The Deal" The more Hair the more complicated.

My advice for what it's worth is to do all you homework on your own. That will only help educate you and make you a little more sophisticated and knowledgeable when you finally do select a competent professional to help you navigate through the mire. Once you've done a couple of deals with some guidance then you may want to consider going out on your own.
0 votes Thank Flag Link Tue Aug 9, 2011
Local MLS is definitely the answer to that question.
0 votes Thank Flag Link Mon Aug 8, 2011
Luke,

If you are thinking about those tantalizing 'dealios' you see on Foreclosure Radar or Realty Trac ((posted here) - then you might be thinking about the auction of foreclosed homes on the courthouse steps of every county. (They are not court sanctioned and that's why they're done OUTSIDE.) CAVEAT EMPTOR! Some people have made some pretty expensive blunders. In a famous case in Santa Cruz a buyer bought the foreclosure of the second loan and never knew there was a first who then wound up foreclosing on them!

Read it and think TWICE:
http://articles.sfgate.com/2010-08-02/news/22007162_1_forecl…

If you are looking for bank owned (REO) they exist on the MLS and will be advertised and agents such as my partner Oliver Burgelman and myself can help you find them. We know our way around both short sales and REO's.

Mike Ackerman, Zephyr Real Estate, ABZ@ZephyrSF.com
0 votes Thank Flag Link Mon Aug 8, 2011
Here is the link you are looking for regarding foreclosures:

http://www.mlsfinder.com/ca_sfar/oggikashi/index.cfm?action=…

Good luck.
Web Reference: http://www.oggikashi.com
0 votes Thank Flag Link Mon Aug 8, 2011
If you want to buy a foreclosure and want to find one that is for sale, tHe majority of foreclosed homes eventually get listed by realtors who are hired by banks to market these properties. So your best bet to find foreclosed homes that are listed FOR SALE is by working with a realtor.

But if you want to see foreclosed homes --- regardless of whether they are already listed for sale or not -- you can go to the County records, research the list. Foreclosures are recorded on the county books.

You can also attempt to bid during the trustee sales held at the county courthouse steps --- but be prepared to bid against seasoned investors. Also be aware of the pitfalls of buying at an auction, regardless of whether they're held at the county courthouse or by an auction house.

Good luck!
0 votes Thank Flag Link Mon Aug 8, 2011
Foreclosures are listed on the MLS just like any other properties. They will usually be designated with a "foreclosure" tag for the listing type. An agent can set up a search for you to pull up foreclosure listings with your desired criteria, and get new foreclosure listings emailed to you so that you are among the first to see them.

Good luck in your property search,

Richard Schulman
Keller Williams Realty
0 votes Thank Flag Link Mon Aug 8, 2011
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