What is the best tool for finding foreclosures?

Asked by Jimnast, 08844 Mon Jul 19, 2010

I want to find a reliable list of foreclosure offerinigs

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Voices Member, , Benton County, OR
Mon Jul 19, 2010

If you would like to just do some Browsing, look at available Properties, see some of the options, loans, and or info about the Bid Purchase Process you may wish to give the Sites Created by the Banks for the Public a look..
Sites like...Bank of America...http://bankofamerica.reo.com/search/PropertySearch.aspx


Wells Fargo....http://www.pasreo.com/pasreo/public/propertySearch.do

You can find the Links to the Bank Sites and more info here...http://www.biggerpockets.com/bank-reo.html

If you are interested in Fed Gov. Foreclosures/Properties for Sale then you may wish to Check Out the Fed Gov. Sites created to Provide the Public with access to information.....Sites like


Fannie Mae....http://www.homepath.com/


You can find the links to the Fed Gov. Property for Sale/Foreclosure sites here..

For Tax Sale information or finding Public Records this may interest you..All Free, All provided by the State/County ...
Somerset County..http://www.somcosheriff.org/sales.htm


You can find this sort of info using this Free Public Records Search Engine

You can always check out Auction Resources...As in anything use Due Diligence





Jimnast...The Best Tool for Finding Foreclosures is your Time..
Use it wisely and become as informed as possible so you can better understand the Process and YOUR Options....Plus when you do decide to choose an Agent or Lender you want TO BE INFORMED so you ask the Right Questions and can make a wise decision about something (Choosing an Agent/Lender) that can have a Huge Financial impact on your life..

Good Hunting
3 votes
John Sacktig, Agent, New Jersey, NJ
Mon Jul 19, 2010
Hi Jim,

Aside from the Links that Dunes has supplied, contact a local Realtor that has experience with these listings and Sales, I would suggest looking to find a Realtor that is SFR certified ( Short Sale and Foreclosure resource) to help with your search, not that the designation is a cure all and end all to find your property.. agents that are certified are for a reason.

Companies like Realty Trac take your money monthly and it is hard to get them to stop. There are companies that buy lists from banks of people that are 30 -60 days late on their mortgage and call them a preforeclosure.. When almost all are baloney and NOT for sale.

When you do get a foreclosure, it goes to a Realtor to be listed for sale. Banks will rarely speak to you regarding the sale. Get a Realtor that knows the Short Sale and Foreclosure market.

As you can note from responses not all Realtors understand where to go and who to speak to, it is good to refer people to the professionals that understand the business.

If you need help, feel free to email or call and I can discuss what is available I the areas that I cover.

John Sacktig
Broker / Manager
Orange Key Realty
SFR Certified
2 votes
Marc Paolella, Agent, Succasunna, NJ
Mon Jul 19, 2010
Good links by Dunes, and good advice about the best resource being your time.

And while I normally advocate strongly against dual agency, it is a fact of life that most REO listings in an area are dominated by a few agents who choose this area of real estate as a specialty. They get most of the listings, and most importantly, know what will be coming on the market in the near future. It might be a good idea to get friendly with a few of these agents so you might have an inside track on a future offering.

Here are some top REO agents in northern New Jersey. Between them they have literally hundreds of listings and complete the lion's share of REO volume. In addition to being an agent, I am also one of the leading REO appraisers in northern NJ and I have worked with all of them. These agents list most of the REO properties in northern NJ.

Google them, they might be able to help you:

Manny Couto
Larry Sharpe
Patrick Kenny
Donna Dixon
Patrick J Fox
Joe Simone
Bill Flagg
Vanna Frosoni
Rosemary Barone
Jack Beierle
Pamela Wright

Good luck!

Marc Paolella
Relocation Director/Appraiser
Century 21 Joe Tekula Realtors
Phone (direct): (973) 584-4235
Coolest map-based norrthern NJ home search: http://www.marcpaolella.com
1 vote
Carl SanFili…, Agent, East Brunswick, NJ
Wed Aug 22, 2012
Best bet is hooking up with a knowledgable realtor who has experience in foreclosures.
0 votes
Carmen Brode…, Agent, Scottsdale, AZ
Mon Aug 20, 2012
Use an experienced Realtor!
0 votes
Carl SanFili…, Agent, East Brunswick, NJ
Fri Jul 27, 2012
A realtor. I have sold over 500 foreclosure in the last 6 years alone.
0 votes
The Stephen…, Agent, Portland, OR
Tue Sep 7, 2010
A Realtor! They get lists the day the foreclosed home hits the market. They have the resources and tools to get you in a contract same day.
0 votes
Pacita Dimac…, Agent, Oakland, CA
Mon Jul 19, 2010
Kudos to Dunes--- that's a terrific list. Definitely worth keeping handy.
0 votes
David Chiles, Other Pro, Los Angeles, CA
Mon Jul 19, 2010
Thank you for your question about finding foreclosures. I suggest contacting the lenders directly or using RealtyTrac. I have my own list from the lenders. RealtyTrac can be a valuable tool for agents or brokers because it publishes notices of default, which will let you know what new foreclosure properties may be coming on the market.
0 votes
Linda Lorenzo, Agent, McKinney, TX
Mon Jul 19, 2010
As Marc and Spirit said find a Realtor to help you. I know on our MLS we can do a computer generated search of the ML foreclosures that will automatically update you on new foreclosures. I am sure in your area there is the same capability. Also look at the agents in your area who are doing foreclosures and ask for their assistance.
0 votes
Spirit Messi…, Agent, Tucson, AZ
Mon Jul 19, 2010
I agree with Marc, there is no magic foreclosure list. Find a Realtor in your town, work with them for what you are looking for. I will say this as well, consumers think that short sales and REO are the best deals out there. That is not always the case, I have found Estate Sales to have great potential as well. Work with a Realtor, and they can help you find what you are looking for at a price you can live with. Good Luck.
0 votes
Marc Paolella, Agent, Succasunna, NJ
Mon Jul 19, 2010
Hi Jim,

There are no reliable lists of foreclosures. The foreclosure market is vibrant and dynamic and changes quickly from day to day. Your best bet is to contact an agent who handles a lot of them in the area in which you have interest. Other than that, you have to hit the pavement and find them yourself.

The lists you will find peddled online are a complete waste of money. They are never up to date and completely inaccurate. Finding a good foreclosure deal involves a good amount of research and legwork.

Good luck!

Marc Paolella
Relocation Director/Appraiser
Century 21 Joe Tekula Realtors
Phone (direct): (973) 584-4235
Coolest map-based home search: http://www.marcpaolella.com
0 votes
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