Unfornuately Realty Trac isn't always up to date and as accurate as you moght hope.Connecting with an experienced Real Estate agent who has the knowledge of foreclosed and short sale homes would be a much better avenue for you. We have up to date information on current bank owned properties through our many affiliations. Not only will we have listings available to you, but we can give you more precise information about a particular parcel, which in turn will give you better insight of the whole process. I personally have up to date lists furnished to me every other day. I would be more than happy to share these with you. I hope I have assisted you with your question. - Renee Pflanz / Coldwell Banker Primus - Algonquin
Coldwell Banker Primus
777 E. Algonquin Rd
Algonquin, IL 60102
You need to get partnered up with a good RealtorÂ® in your area to find a property to purchase. Forclosure listings come on the market and the ones that are in good shape and priced right sell quickly.
When the lender takes title at the sheriff's sale the property becomes an "REO". It can be a long time before the lender puts it on the market. There are a lot of reasons for delays in going on the market.
Dan Chase has the right idea. For the buyer's protection, it is better to have a licensed REALTOR assist with both finding the properties for sale and guiding you through the process. Most REALTORS like myself, do not charge the buyer for our services. We are usually paid out of the seller's proceeds. You should budget for a good real estate attorney and home inspector as they will be at your expense, and I highly recommend both. You can get some great deals on these homes, but they are still a big investment. Protect your investment!
IGNORE REALTYTRACK COMPLETELY!!!
You can not buy a house for what they list it as.
If you want to buy a foreclosure or short sale deal with a local realtor. They have access to the legitimate foreclosures for sale. It is easier, better, and the realtor will help you without asking for money up front.
THAT makes sense.