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Just Getting…, Home Buyer in Sioux Falls, SD

Are foreclosures listed on the MLS?

Asked by Just Getting Started, Sioux Falls, SD Mon Apr 18, 2011

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15
yes. after banks foreclose they list their properties with preferred local realtors who place the home on the MLS
0 votes Thank Flag Link Thu Dec 8, 2011
There is not a specific search for foreclosures. They are listed with individual agents on MLS. A real estate agent can help you find those homes.
0 votes Thank Flag Link Thu Dec 8, 2011
Yes but they are not listed as foreclosures. They will be listed with an agent.Hire an agent and have them do the checking for you.
0 votes Thank Flag Link Wed Dec 7, 2011
Yes foreclosures are listed on the MLS. There is not a search option to show if they are or not a foreclosure. Most forclosures are listed with a Sold AS-IS description but not always it depends on the instructions from the bank to the listing agent.

There are properties avaiable that will pass different types of financing and some banks will actually fix certain things to get the property sold (ie:plumbing).

Your best bet is to get hooked up with a real estate agent that will help you search for properties that fit your criteria whether a foreclosure or not. Feel Free to contact me with any additional question you may have.

Brandon Martens
Real Estate Retrievers SD-IA LLC
605-261-9673
Web Reference: http://brandonmartens.com
0 votes Thank Flag Link Mon Apr 18, 2011
When a property is listed "As Is" it doesn't necessarily mean that it won't pass inspection. Many foreclosures will pass inspection and many won't. "Sold As Is" is fairly standard term used for foreclosure listings regardless of the condition. I can help you find a property that will pass inspection. Contact me and we can get started.
0 votes Thank Flag Link Mon Apr 18, 2011
Actually most/all Foreclosures will state "sold as is". It will really depend on the property and you are always allowed to get home inspections. I've written offers for some properties that after inspection would not meet the requirements and in a few of the cases the "owner" stepped up to remedy the situation. This is again one of those case by case situations. I am a little confused that you want to look at foreclosures and yet have been advised to not consider anything that is being sold as is?
You need to discuss your needs/ wants with a Realtor.
0 votes Thank Flag Link Mon Apr 18, 2011
Yes, foreclosures are listed on MLS as well.
0 votes Thank Flag Link Mon Apr 18, 2011
Thank you all for the excellent information. As a follow-up, I have been told not to waste my time w/ listings sold "as-is" as they would most likely not meet the FTH minimum standard guidelines. Accurate advice? Or not relevant/depends on the property?
0 votes Thank Flag Link Mon Apr 18, 2011
Absolutely ~ and everyone has given you good advice. It is easier if you have an agent look as they can see who the owner is and find out the sales history of the home as well.
Congratulations ~ you are taking a good step towards becoming a home owner and there has never been a better time to find deals.

Nancy Hopp
Hegg Realtors
605-360-1974
0 votes Thank Flag Link Mon Apr 18, 2011
Yes!! You can find foreclosures on the mls, but you should work with an agent to help you find them because they do not say foreclosure. There are specific things that an agent knows to look for to know that it is a foreclosure such as seller name, as is, etc. Feel free to call or email me if you have any more questions. 605 484 7832 or daneenjacquot@yahoo.com
0 votes Thank Flag Link Mon Apr 18, 2011
Yes, foreclosures usually do hit the MLS. When you're looking at the public websites, it can be difficult to determine if a property is a foreclosure or not. I can identify them for you and also find out the sales history for the property. Contact me at 940-5100 if I can be of help to you.

Dick Hahn
0 votes Thank Flag Link Mon Apr 18, 2011
Yes, foreclosures are listed on MLS. However, you have to look for key words like REO or As Is. The MLS doesn't have the word Foreclosure anywhere in big bold letters. If I were you I would call a Realtor and ask for assistance so you are not wasting your time or getting frustrated.
0 votes Thank Flag Link Mon Apr 18, 2011
Give me a call I would be happy to help you out in locating foreclosed properties.

Rich Hahn
CDPE - Certified Distressed Property Expert
Broker Associate
RE/MAX Professionals
605-376-2893
Web Reference: http://www.rich-hahn.com
0 votes Thank Flag Link Mon Apr 18, 2011
If you are interested in foreclosures do work with an agent of your own; yes they are listed on MLS, but oftentimes not defined...
0 votes Thank Flag Link Mon Apr 18, 2011
Foreclosures are listed on MLS. However they won't always be labeled as a foreclosed home. Look for 'as is' in the description. Also look for 'REO' as part of the listing agents company name.

If you are in the market for a foreclosed home, a local agent can set up up an auto search on MLS which will send you via email listings that are specific to your needs.
0 votes Thank Flag Link Mon Apr 18, 2011
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