Home Buying in Yarmouth>Question Details

mothaload, Home Buyer in South Portland, ME

Isn't there someway to get info about foreclosures than having to pay RealtyTrac for it???

Asked by mothaload, South Portland, ME Mon Feb 25, 2013

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6
Vicki Kennedy’s answer
Foreclosed/bank owned properties in Our area are listed in the Multiple Listing Service. You can go to our website http://www.OceansideMaine.com and sign up for an automated search. Every time a property that meets the criteria you enter comes on the market you will receive an automated email.
If you need help setting it up, just let me know.
0 votes Thank Flag Link Mon Feb 25, 2013
Allhud.net,ushud.com, and zillow all have the same info for free. Bank of America had there own site as does FHA. They do require that you work with a realtor and be pre-qualified to do business with them.
I would definatly contact a realtor though. It can be a complicated process.
0 votes Thank Flag Link Thu Apr 4, 2013
Yes. Send me a quick e-mail or text @rrich0008@yahoo.com/207-210-9753 and let me know what your looking for.
0 votes Thank Flag Link Mon Feb 25, 2013
work with a realtor.. the information realtrytrac has in maine is not worth the money.. i had a subscription for a few years and finally discontinued it. You will see houses that they say are going to be sold for $1 - they aren't. Other states are much more open with their information, so they are fine for example, if you are in California.. they just can't get the information they need and in a timely manner in Maine.

homes that are already foreclosed are listed by realtors. You can also go to HOMEPATH and and see the FannieMae foreclosures that are on the market, but even with those you will need to work with a realtor.

Shortsales or homes that may be going into foreclosure aren't worth chasing. the banks seem to take forever to accept an offer. If you find one, be prepared to wait months. Unless my buyers are in no rush, I advise them not to waste time. Even buyers that do have time often give up. We just had a buyer walk away after a 3 month wait - the bank still hadn't gotten an appraisal done.

Auctions are listed in the paper in the notice section. many of them don't have an opportunity to view the property, although Keenan Auction and Tranzon both do a good job of advertising and offering views of properties coming up for auction. go to their websites and sign up for notices. Be aware that the bank may have a reserve on the property, so even if it does go up for auction, it doesn't mean it will be sold.
0 votes Thank Flag Link Mon Feb 25, 2013
You are considering REALTYTRAC, but you aren't considering a REALTOR?
Being a Buyer, a Buyer's Agent is free to you; paid by the Seller.
You get free representation, free info about foreclosures, free protection and free advice.
Where can you get a deal like that?
0 votes Thank Flag Link Mon Feb 25, 2013
Do you mean homes about to be foreclosed or one that were in the past sometime and are now bank owned?
Bank owned homes are listed on local MLS systems and they show up here and on zillow. One's about to be foreclosed have to be listed in the newspapers.
0 votes Thank Flag Link Mon Feb 25, 2013
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