There are many services out there that publish lists of foreclosed homes. Most of them charge between $30 and $60 a month to view the listings. However, you would have to filter through every listing to see if it a legitimate foreclosure because many of these sites list homes as "foreclosures" or "pre-foreclosures" as soon as the owner is just late on their payment. This is through a process called a NOD. A Notice Of Default is filed and make it public information and those websites buy the list from the courthouse.

Most banks post their homes for sale on their website. You can filter though the website of every bank out there too such as:

http://bankofamerica.reo.com/search/propertysearch.aspx
http://mortgage.chase.com/pages/other/co_properties_landing.jsp
http://www.gmacmortgage.com/reo/search/index.htm

Of course, there are many more out there. There are government owned homes as well.

http://www.homesales.gov/homesales/mainAction.do?pageAction=… If the city is not listed it means that there are no listings right now. As you see, Southlake is not on the list.

https://www.bidselect.com/servlet/RouterServlet?p_build_page… This is for HUD & VA homes so they will be homes priced below 280K

Also, more websites such as those above.

A foreclosure doesn't always mean it's the best deal out there either, but I am sure that you know that. Not all foreclosures are listed in the MLS either.

Naima
214-289-8555
Naima@Sumner-Realty.com

Jill,

The Banks and the Gov. have created sites to provide the public with access to their properties for sale listings..(REO/Foreclosures) and information on the Bid/
Purchase process.

Sites like.... http://www.wamuproperties.com/ .... http://www.hud.gov/homes/index.cfm

https://www.citimortgage.com/Mortgage/Oreo/SearchListing.do ... http://www.homepath.com/

The links to these Bank and Gov. sites can be found here.... http://www.mortgagenewsdaily.com/wiki/REO_Database_List.asp http://www.biggerpockets.com/bank-reo.html

If it's Tax sales you're interested in then you may find this search engine useful...
http://publicrecords.onlinesearches.com/Foreclosures-and-Tax…

Good Hunting, Dunes

Here is website assist you: real time listings
http://sites.google.com/site/dallasbankforeclosureslistings

If I have your specifications and lender approval amount I can custom program MLS forward you listings moment they hit MLS as an email alert.


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Many foreclosures are listed in the MLS but not all of them. My team has been working with many buyers recently that have successfully purchased properties. Please let us know how we can assist you.
Pam

MBY Realty Group
Ebby Halliday REALTORS
Southlake
214.929.5535

Jill .. Before you go with any old agent that serves the area you are interested in ask them a few questions.

1 - Have you sold any forclosures in the last year and if so give some examples?
2 - Name your sources other than the MLS for forclosure properties?
3 - Do you have a good source for financing for forclosed properties?

If you would like help finding an agent that works the forclosure market let me know. I would be glad to be of service.

Good luck with your search. Bruce

Hello, There are many different types of foreclosures. There are bank foreclosures and HUD foreclosures that are listed by Real Estate agents and will be in the Multiple Listing Service. These are the large amount of foreclosures and it is best to find a Real Estate agent who knows the area and can inform you on the market in that area. These foreclosures are sold with a clear title and a title insurance policy. But just because they are a foreclosure doens't mean that they are priced well. That is where you must rely on your Real Estate Professional to run comparables of the area. The other type of foreclosure are the ones that are sold on the court house steps in a frenzy. These are not sold with a clear title and you must be ready with the money at the time of the sale. You must do your research for liens on the properties so you are not stuck with excessive bills later. These can be handled by Real Estate Agents but usually these people are representatives of the Mortgage companies and second lien holders who are buying back their properties to later list with a Realtor and make available to the public. If you would like further information on this, please feel free to email me as I do work the Southlake, Grapevine, Keller and MidCities area. My email is dede@soldbydede.com.

Jill,

I would suggest you find a local REALTOR with whom you feel comfortable working and that you sense is listening to what you want in a home and then have that REALTOR set up an on-going search for you meeting all your criteria. This search will notify you of any new or sold properties in your target area or any other changes (such as price) to properties in your existing search. I live in Keller and would be happy to set up a search for you if you would like. You can reach me at 817-800-4780.

Jill

Bill is right usually Realtor will have the best and most current information there is about foreclosures. We have system that tell us when something new is hitting the market.

Have a Nice Day
Jerry

Jill,

For the most current and accurate information buyers searching this sector of the real estate market would be best served by contacting a local real estate professional.

Good luck

You can contact an agent in the area, and it is easy for them to run a search fitting your criteria for a foreclosed home