There are plenty of resources online to find homes that are scheduled for foreclosure.
The MLS has information on foreclosure or short sale properties that have been "listed".
Foreclosure Radar has information on properties that have received a notice of default( Typically 90 days delinquent )and and or a notice of sale (21 days away from an auction date).
Given the current markets scenario there is a lot of competition and bidding wars for properties that have just been listed for a short sale.
The best way to bid on foreclosure properties today would be to identify the properties that you may want to buy that are in some stage of default and make contact with the homeowner directly prior to the property being listed.
I was a foreclosure consultant in Orange County for 3 years and have an indepth understanding of the foreclosure market. I would like to assist you on your future searches for foreclosure property.
Short sales certainly take a very long time and be extremely frustrating for you and the agent you are working with. The problem is the bank has no timeline as far as when they need to get back to you. This can extend the process quite a bit. It really depends on the bank and how quickly they respond I have heard of some closing in as few as 30 days and other taking close to a year.... more
With an all cash offer you can have a very quick escrow. This will also make you offer stronger when presented to the buyer. Where to start now is by choosing a Realtor whom you trust will find you the best place.... more