Home Buying in Wake Forest>Question Details

Mrmellow, Other/Just Looking in Wake Forest, NC

where do I find free listing of gov't tax foreclosure homes in my region? NC

Asked by Mrmellow, Wake Forest, NC Mon Feb 22, 2010

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There are a few sites as mentioned by others. But there is NO ONE SITE that is accuate.

The best way to get this information is to employe a Realtor.

I have been work with forclosures and short sales since the mid 1990s.

now Tax forclosure sales in NC are almost none existant. The counties try very hard to work with the propety owner for several years over back taxes.

if some one went down to the country tax department and paid the back taxes on a property you DO NOT get a Certificate saying you own the property. You get a receipt saying thank you very much. ie You just paid someone else’s taxes.

The tax sales I have been to are on abandon properties, which really are not much of a value, a small strip of land here or there. Nothing of real value.

When buying property at a court house foreclosure sale, you do need to have money. $750 or 5% of the sale price in cash or certified funds which ever is more. Balance do in 10 days. no loans, but cash / certified funds.


The kicker is, most foreclosure auctions are now being sold for what is owned on the property. These auctions are not absolute, but start at the prior balance of the loan. Which is more then the market value of the property.

When the bank takes the property back 90 days later that property is listed with a Realtor for the market value, which in many cases was less than the foreclosed auction price.

Not saying there are not great values in real estate, but one needs an experience Realtor to help you find these properties and TWO you need cash to purchase. There are loans for ppl who buy these properties for "owner occupied". Investor loans are around, but at higher rates and 30% down.

Good Luck
0 votes Thank Flag Link Wed Sep 28, 2011
HI
There are a few sites for foreclosures. If you are interested in HUD homes, a great site to visit is:
http://www.hmbiweb.com. If you find a home, you will need a registered broker to place an offer and I would be happy to help you. I would be happy to send you all new foreclosures (government or otherwise) in your area if you will contact me--under no obligation!
Sharon H. Brackins
RE/MAX Hometown
http://www.SharonBrackins.com
919-210-1531
Email: Sharon@SharonBrackins.com
0 votes Thank Flag Link Tue Feb 23, 2010
Mr. Mellow,

Here is the best site for government foreclosures, http://portal.hud.gov/portal/page/portal/HUD/topics/homes_fo…

Happy Hunting,
Eva Foster
evarfoster@aol.com
0 votes Thank Flag Link Tue Feb 23, 2010
Here are properties to be sold for nonpayment of Wake County Property Taxes:
http://www.wakegov.com/tax/realestate/foreclosures.htm

Please note that you are not guaranteed clear title at a tax auction.
Web Reference: http://www.MikeJaquish.com
0 votes Thank Flag Link Tue Feb 23, 2010
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