There are many places to get these properties. You can check out homepath.com, hudhomestore.com and auctions, but PLEASE find yourself a trustworthy agent who knows about foreclosures. REOS are shark invested waters these days. With banks and government entities involved in these transactions now, anything goes and unfortunately, sometimes rules and laws don't always matter. The buyer is never is the position of power. But great deals are out there so it is a good time to wade in. But don't try to navigate the waters alone - get a Realtor to guide you through and you will be much happier for it.
Check out my blogs on foreclosure properties to give you a few tips, but do your self a favor and find a trustworthy agent. If you are looking in the suburbs - give me a call.
RE Marketing Consultants
There are buyer agents and then there are listing agents who specialize selling direclosuresxand work with the banks.
I happen to do both and can assist you in the process. I am a short sale and foreclosure resource specialist (SFR)
Certified . Fannie Mae listing agent., and Equater certified. If this is confusing you then call me and I will explain it to you . You cansldo visit my website as it is also full of information snout foreclosures.
Americorp Real Estate
Managing Broker/Partner. e-PRO
http://www.IllinoisREOresources.com You can search foreclosures by County, and other selected criteria like price range, amount of bedrooms, bathrooms, etc.
Email me or call me if you have any questions.
Another way to do it is to work with an agent because when you find one you like on your own it is a bit more diffiuclt to deal directly with the listing agent who represents the seller, not you.