"Public Information" is not always synonomous with "free." You can go to the count courthouse in Media, and get information about foreclosures by asking for a list of upcomming sherrif sale properties. This will tell you which properties are about to go to auction.

To find out about properties not yet on the auction block, you can request a report on notices of default that have been filed with the court. This report will tell you which properties banks have sent a notice of default to. (Sometimes referred to as "pre-foreclosure") some of these will get remedied, and some will end up in a sherrifs sale.

Bank often purchase the foreclosed properties at the Sherrif's sale. These are then referred to as REO (Real Estate Owned) properties. The banks will then put them on the market with an REO marketing brokerage, and try to recoup their loss on the open market. These (and HUD homes) are the ones you will find listed on the Multiple Listing Service. Before the Sherrif's sale, the only way properties get on the MLS is if the owner lists it with a broker, trying to sell it before the bank can get it at the sherrif sale.

Anyone can bid on a property at the sherrif sale, but you have to have cash or certified funds.

There is a lot happening in the Chester market, because of all the economic development happening there (Harrahs, the New Soccer Staduim, Pacifica Ventures Movie Studio, the Crossroads at Widener, and the Chester Community Grocery Coop, to name a few) and investing in real estate in Chester has never been as promising, in my opinion. Foreclosures are one way of finding good deals, but don't rule out traditionally listed properties, or even some new construction that is happening. (Some of the new townhomes are selling for around $110,000, and can rent out for $1100 a month or more.)

Feel free to contact me if you want any more information.

Yb,

For starters, the homeowner who is being foreclosed upon usually doesn't broadcast the issue. And the lenders, for reasons of confidentiality, can't make the information public. As for paying for the websites, most lenders, at least in this area, then list the property with a local agent, similar to a normal listing. There are some qualifications, however, as the properties are usually listed "as is", etc. Check with a local Realtor and ask about their MLS services. In our area, there are now fields for "bank owned" properties. There are also "HUD" homes that are sold, but at least in this region, they too are listed with Realtors.

Yes, you can find them in the paper and the information does become public. Most information is public but it is being able to easily access it, compile it, and interpret it that sites charge for in all types of information, not just that pertaining to real estate.

Hi Yh,
I'm not sure how Virginia posts their foreclosures. In the Lehigh Valley they are advertised in our local paper every Friday. There is also a Lehigh Valley goverment website. Maybe the area you are in has something like this. As suggested Realtors can help you find foreclosures in your area. We also have a Realtor that specializes in foreclosures. The real estate company is First Source properties.com
The goverment sight is LehighValleyGoverment.org
hope this helps.
Melinda Nicholson
Prudential Patt White
610-762-9335

I always have time for your referrals

Foreclosures are public information, but you must find them through the local Clerk of Court. The web sites charge a fee or require regsitration in compensation for the legwork they are saving you.

Another option is to hire a Realtor as a buyer's agent. They have more sources than just the Clerk for foreclosure listings.