Private real estate research firms provide free foreclosure listings. Their listings contain all properties posted for sale throughout the county. These lists also include daily updates and add a wide range of data needed to gauge upcoming sales. The company’s services are completely free during a trial offer period, which usually lasts seven days. After the trial period, subscriptions for the best companies range from $30 to $50 per month. You can use as many trial offers as you like.
In general, government agencies and lenders also provide free listings to comply with state law. These lists contain minimal information for each listed property.
Newspapers publish notices of attempted foreclosure as a service to lenders. All lenders, in all states, have a legal duty to provide public notice before repossessing real property. Individual notices are reliable.
County agencies provide public records online, including real estate records and notices of intent to foreclose. These records are available as a public service provided at taxpayer expense. They generally disclose the minimum information permitted by law. County records are very accurate, but may not be up to date.
Banks provide free lists of foreclosed properties they own. They hope to sell all the REOs, to convert the delinquent collateral into a profitable loan. You have to contact each bank or lender individually, which requires a large investment of your time. Their lists are reliable.
Some real estate agents specialize in foreclosed properties. They usually receive a listing after the sheriff’s sale or private auction. They can represent banks or other lenders and list the property on the MLS. Their lists are reliable.
The question of reliability should also include business utility. If you’re hoping to bid on a property, relying on a free listing is foolish. You’ll spend time and money compiling listings, researching the necessary details, and inspecting homes to begin finding qualified prospects. The same information is available online for a negligible cost. Information is available in minutes instead of months. Use a free trial offer from a full-service company. You can easily find great prospects in your area and maybe bid in seven days.
