The Internet is teeming with websites that offer listings of homes in foreclosure, and for a price you can get the information; however there is no need to go to the sites that charge, when you can get a free home foreclosure listing from any REO (real estate owned) property department from any bank. HUD is a government agency that will also give you a free home foreclosure listing; you can request on by going to their website at www.hud.gov.
Everyone wants to cash in on a great deal, so when you contact a government agency such as HUD, you should know there are probably hundreds of people asking for the same free home foreclosure listing. You might get a heads up on a property going into foreclosure by doing some investigating yourself.
Get into your car and just start driving around and take special note of homes that have been taken back by the bank. There will be a sign on the property with the bank’s contact information. You can form your own free home foreclosure listing by keeping a notebook with all the information you gather on your own.
Don’t forget your colleagues, friends, and neighbors either. Ask them if they know of any foreclosed homes for sale. Chances are they do know of properties going into foreclosure. Write down in your notebook any information they can give you, so you have a heads up on new properties going into public sale.
Once you find a property on the free home foreclosure listing, be sure to take a look at it. Never buy a property sight unseen, because the property may not even be worth the ground it is sitting on. The land could be fairly valuable, but the house could be falling apart, so it always pays to examine a property you are interested in.
It is good practice to employ an attorney and real estate agent that is experienced with home foreclosure sales. Ask your agent to send you a free home foreclosure listing each week; this will keep you up to date with any new properties being added. If you are ready to purchase a property through foreclosure you can find strict foreclosures and judicial foreclosures on the free home foreclosure listing, and you can go on line to Justlisted.com to fill out a form to obtain a free home foreclosure listing.
The free home foreclosure listing will provide you with all the information. If the foreclosed home is a strict foreclosure you may be able to deal with the seller privately. If the bank accepts the offer you may then be able to purchase the home. In a judicial foreclosure the home is taken back by the bank and sold at public auction.