Please be advised that your best resource for information about foreclosures is a good local agent who specializes in foreclosure.
When you check and find a home, click on AGENT DETAIL. Deal with ASSET MANAGERS AND BROKERS.
The FSM and Brookers will help you and show you more homes.
here's the link
I will put foreclosed and auction sites links on my site for free shortly.
First of all, you need to make sure that the Realtor you are working with understands the entire foreclosure process including pre-forclosure (Short-sales), foreclosure (Sheriff Sale), Bank Owned (REO), and Auctions. Your best bet is to find someone you are comfortable with, then sign a buyer's agency agreement. Will it require you to pay your agent if the seller doesn't? Yes, it will, but if you want really good information you aren't going to get it for free. At least doing it this way, you don't have to pay unless you actually buy something. I typically save my buyers more money in the transaction and rehab of the house than they pay me in commissions. Anyone who is good at what he or she does isn't going to work for free.
I'd also suggest checking out the local real estate investor group ACRE http://www.acrepgh.org which provides advice and guidance for about $100 a year.
Be VERY careful with the auctions. When you buy at at Sheriff Sale auction you buy all the liens on the property as well. When you see that someone bought a house for $15,000, what you don't see is that the house has a $250,000 lien on it that must now be paid. Some of the "bank owned auctions" are actually the properties that wouldn't sell on the multi-list because they aren't worth what the bank is asking. I've been to at least one auction at the convention center where the auction company had employees in the audience bidding up properties -- a practice that is illegal in Pennsylvania. This isn't to say there aren't legitimate auction companies out there, you just need to be careful.
Get a professional to help you though the process. I would look for a Realtor that is also and investor and is more likely to understand the process.
There are a lot of good deals out there, but there are even more bad ones. Best of luck and let me know if I can help you.
Jazz This House, LLC
http://www.jazzthishouse.com - Seattle's Foreclosure Expert
Web Reference: http://www.jazzthishouse.com
Simply stated, banks will sell their property at action to the highest bidder for cash. You can see where this gets complex. Unless the buyer has cash (certified funds) at hand on the courthouse steps, you won't be considered as a buyer. Are there lenders that will loan prior to auction? Yes, but they are private and hard to find. Unless you're a seasoned investor this is not a route I'd recommend.
Wait till the property is taken back by the bank then contact your real estate agent and make an offer.
For REO/Foreclosures give the actual Bank/Gov Databases a look, they also provide all the purchase/bid info.
These will provide the links to the databases.... http://www.biggerpockets.com/bank-reo.html
As far as other types of auctions you can find them if you look. Just remember DUE DILIGENCE.
Here's a few just to look at.... http://www.bid4assets.com/ ... http://www.naarealestateauctions.com/consumer/search/search?
Good hunting, Dunes
There must be a resource out there, but where???
You do not have to pay to do property searches on these sites.