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Cull, Home Buyer in Auburn Hills, MI

Is the only way to find out about forclosures - is realtytrac? Do you have to pay a fee to view?

Asked by Cull, Auburn Hills, MI Thu Apr 16, 2009

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Realty Trac is not a listing site,just a site that publishes notice of default& foreclosure they obtain from the public records in hopes of getting people to pay. This information is available at no cost through a local agent with access to the MLS. most of these properties are not even on the market. When they do foreclose they will be listed on the MLS at market value to be determined at that time.
2 votes Thank Flag Link Thu Apr 16, 2009
Cull, Here are some different places for you to check out.

First..The Banks/Gov maintain Databases of the properties for sale REO/Foreclosures for the public to use.
Besides providing the property information the purchase/bid process is explained. Sites like these.....
http://www.mcbreo.com/ .... http://bankofamerica.reo.com/search/
You can find the links to these sites and more here.....http://www.biggerpockets.com/bank-reo.html
http://www.mortgagenewsdaily.com/wiki/REO_Database_List.asp

For Tax sales and other sources check these out.....
http://publicrecords.onlinesearches.com/Michigan-Foreclosure…
http://www.bid4assets.com/

Dunes
1 vote Thank Flag Link Thu Apr 16, 2009
NO! Please don't pay. The information they offer is not necessarily helpful to you as a buyer. You need to know what homes are for sale. A local real estate agent can share this with you - their access includes REOs (post foreclosures), Short Sales (pre-foreclosures), as well as traditional sales and new builders.

Just because something is on Realty Trac doesn't mean it is actually for sale, nor can they offer the marketing information you'll need to know - what's it like? are their pics available of the inside? how much land? what do they want for it?

Call a REALTOR today.
1 vote Thank Flag Link Thu Apr 16, 2009
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