Do I have to pay for an internet site to gain access to foreclosed home addresses?
Actually, no. Entrepreneurs who cull the existing inventory from various locations own many of these sites. They repackage the information and resell the data as one-time only lists or on-going subscriptions. Itâ€™s a little like paying for those lists of government grants that you could get from a visit to your local library for free.
While there is nothing wrong with a little entrepreneurship, much of the information is available through a professional agent familiar with foreclosures who can actually help you make sense of the data on the lists, and usually at no cost to you. (Some states are not buyer agency states. Maryland is a buyer agency state providing buyer representation through cooperative listing agreements.)
Also keep in mind that some of the listing data on those lists is inaccurate or out of date.
[I recently had a call on one of my listings because it was on his monthly subscription list. Not only was my listing NOT a foreclosure, but the price shown was wrong and it had been sold 3 months earlier. This individual had been paying for his monthly subscription lists and getting nowhere with them. When he came in to meet with me, we reviewed his lists and found that a lot of the properties on that list were inaccurate, very old, or even rentals. I really couldnâ€™t make any sense out of how that information was compiled.
When he tried to cancel, the service offered him opportunities to upgrade to another service and adding products. But, when he was firm in terminating the subscription, they continued to bill his credit card stating that it would be at least 60 days for his subscription to be cancelled.]
My advice is to seek out an agent and discuss your objectives. Most agents are very willing to set you up on a notification basis of properties that meet your needs. And, when something pops up that interests you, youâ€™ll actually have an experienced advocate to help you navigate the process and answer questions.
Be aware. Be vigilant. Be smart.
Kimberly Barton, REALTORÂ®
Champion Realty, Inc.
711 Bestgate Road
Annapolis, MD 21401
410.224.0600 x 645 (office)