"Why do they list property with realty trac?"
Isn't it frustrating! In fact, RealtyTrac is listing public record information most of the time.
"I search for properties but when I have to sign up to see specifics that makes it a no go."
RealtyTrac's primary objective is to separate you from the Dollars in your wallet on a monthly basis for information most any RealtorÂ® can provide you for FREE. RealtyTrac is not a "distressed property MLS", they are simply using Trulia to take public record notices and syndicate the information to the web. Very few RealtyTrac listings are actually for sale: http://docs.Steven-Anthony.com/RealtyTrac30.pdf
Most distressed property is sold via RealtorÂ® websites!
MLS Data Accuracy â€“ Where to search if youâ€™re â€œwithout RealtorÂ®â€
"Realty trac is a scam to get money, they make money on the property sale so why hit is twice?"
Given you can get REAL 100% distressed property listings from a RealtorÂ® for free it would not appear to be a great "investment" for sure.
Here's a quick relative risk scale for distressed property (1 being the most risky):
1) Trustee Sale (court house steps)
2) Auction Company Sale (you bidding in a pressure environment)
3) REO (reduced disclosure requirements),
4) Short Sale (primarily risk is approval timeline)
I wouldnt say RealtyTrac is a scam... they are an information provider and charge a fee for that information. No one is working for "free" The closest you are going to get to someone working for you for free would be to hire a Realtor who makes their living on a commission based on a belief that their investment in working with you will result in a successful sale. Otherwise, you could do the research yourself, going through public records, city hall, auctions, trustee sales, etc... I am not an advocate of RealtyTrac or any other information provider for real estate, but I do recognize that time is money, regardless of who you are and if you want something, anything, in this society... you will have to pay for it.
The best thing for you do you toget up to date information on properties is to get yourself a buyer's agent to search on your behave.
Agents have access to the MLS which has real time information. The best news is, a buyer's agent will search for homes for you at not charge to you!
Best of luck to you,
Kawain Payne, Realtor
The best way to seriously go after distressed property is to connect with a local Realtor who can assist you. There are steps you will need to take so that you are prepared to buy, once a property is located. A professional Realtor will have access to the distressed property that is on the market, and actually for sale.
This is the same data that every realtor will see on their MLS website available to you for Free !
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I do use a site like Realty Trac when I'm searching for foreclosures, but I use it in conjunction with my MLS access & public tax record searches, I get all the information & history I need about a property & the owner's loan info in a matter of minutes.
Shoot me an email directly if you'd like to talk to me some more. I don't look back on this same Trulia thread for answers posted after mine.
Realtor Since 1996
Main Street Realtors
You can sign up on my website and see everything on the market we real estate agents see. You can see 2 homes then just put your contact info in and you have full access. Don't worry I won't hound you, if you have questions feel free to contact me.