Real estate foreclosure listings are not a secret. There are multiple Internet sites that compile lists of their own to sell when you join their site as a member. There are benefits to going through a third party to get real estate foreclosure listings, but they can also be had just by searching the public records in your area.
If you are looking for real estate foreclosure listings across the United States, then going to a third party that has compiled that information into one easy to search online source can save you a lot of time. If you are looking for real estate foreclosure listings close to home, however, you can get good information through your local newspapers, realtors, and the county records.
When a bank is going to foreclose on a property, it is required by law to place a notice of sale in the local newspaper. This information will show up sporadically in the local newspapers and even some business journals are known to carry it too. Just look under the “Public Notice” section of these periodicals to find out what foreclosure sales may be happening in your area and compile your own list.
Another source to build quality, local, real estate foreclosure listings is the county records. You can look for any Notice of Default (NOD) to see what might in preforclosure. Other places to look in the public records are doing a search for Lis Pendens or Notices of Sale. Some county records are now searchable online and contain the latest information on local foreclosures. If you want to save some money and be the first in line, it can pay to create your own real estate foreclosure listings by searching the public records for free.
Online Third Parties
If you are investing nationwide, you may want to find information on foreclosures all across the country. In that case, you will probably want to get real estate foreclosure listings through a third party. One of the nice things about getting that information online is that often they provide additional information like tax and property liens that might be hard for you to find yourself. As always, be sure to check out properties thoroughly before making an offer, and double-check all the facts that you may get from a third party online vendor of real estate foreclosure listings.
Otherwise, you might find out that there is an error in the information that can cost you plenty at closing. While using online third parties can help to speed up nationwide searches, they should never be a substitute for doing your own homework to make sure the deal is sound and you are protecting your own interests.