Keira Banks

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Posts by Keira Banks

A Guide To Purchasing Foreclosures

Nov 1st

Due to the high level of competition in the real estate market, it is actually very difficult to find foreclosure properties. There are many means for doing so now, but it’s important to be the first person to actually get to these homes. Some of the ways for finding a foreclosure are the internet, physical mail, friends and relatives, trade groups, seminars, and in the good old fashioned newspaper. I will walk you through a number of these areas methods in this article, but as we go through them, remember that you should never rely on any one single method. These methods are presented to you with the intention of having you build out your toolbox, so that dependent on the situation, you can easily adapt and become creative.

While many people do not subscribe to the newspaper anymore, if you’re in the foreclosure game, it’s imperative that you do so. The reason for this is because the government requires, by law, that homes that go into foreclosure are published into the newspaper. It’s an outdated law, but you can use this to your advantage. Simply get a hold of the newspaper, scan for these notices, and then contact the publisher of them by email or phone. You can also do this yourself by publishing your own ad. State that you are a purchaser of foreclosed, distressed, and REO properties, and you may get a few bites.

Another fantastic method for finding distressed properties is to send out bulk mail to entire neighborhoods. By doing so, you are hoping that someone who is in pre-foreclosure will see this mail and contact you about their property. This is an excellent method, since you are helping the person to avoid foreclosure, while putting yourself in a great position for negotiating a low purchase price on the house. You also avoid the mobs of competition that will arise once a public notice of foreclosure is posted in the paper.

Realtors can be your best friend when it comes to finding foreclosed, distressed, and REO properties. Banks will often bring in realtors to sell properties that fall back into their hands. So by forming a strong network of local realtors who work with banks, you can build up a circle of people who will alert you to new properties that they are working on. It is advantageous for them to work with you on a fast sale, as long as you prove yourself to be a competent purchaser who is willing work move quickly.

Probably the most important method of finding foreclosures to purchase, and the easiest and cheapest to do, is to continually expand your network. This doesn’t mean just talking to real estate agents. It means letting everyone you know, regardless of what they do, that you are the man that is looking to purchase foreclosed properties. Make sure that people recognize you as this person, and before you know it, you will be getting hot tips from everywhere. The best part about this method is that is completely free! So be sure to open your mouth and let people know!

Find out more about Finding Foreclosures in California – 2 zip code 90001 at California Foreclosure Property Listings – 14 zip code 90013.

foreclosed homes, Foreclosed Properties, foreclosure listings, foreclosures, Real Estate

Foreclosure Properties: It’s A Numbers Game

Oct 31st

Posted by Guest Author in Mortgages

Finding a foreclosure to purchase isn’t always the easiest thing to do, but there are actually quick a few places to look for foreclosure properties. No matter what route you choose though, it’s key to be the first person to find these properties. Even though they can be in a state of serious neglect, these types of properties go quickly, and the market for them can be very competitive. A few places to look for them are online, at both paid and free seminars, direct mail, through friends and realtors, and in newspapers. The internet in particular has become increasingly good at searching for foreclosed properties. Also, several foreclosure listing companies will sell a subscription to people, for a price, of course. The problem with using these two methods of searching is that the barrier is low, and so they will draw a good amount of competition for you. If you do decide to go this route, be sure to evaluate their effectiveness through a free trial period, so that you can judge the quality and timeliness of the listings.

Another common way to find foreclosures is to read your local newspaper. In the United States, it is legally required to publish a public notice of auction in the paper. By doing some manual research, you can find these published notices and contact them. Another route you can go is to be on the other side of the fence and publish an ad where you are looking for foreclosures. Given the low cost of newspaper ad publication these days, it may be worth it to give it a shot.

Direct Mail, while outdated, can be an effective means for finding good foreclosures. By mailing out physical notices to people, you often can reach the pre-foreclosure population. Simply state that you are looking to help them get out of their situation by negotiating a purchase that would allow them out of their situation for a fair, market price on the house. This has the added benefit of reducing the competition you have to the property, since it will have never hit the public radar.

If you have a good relationship with local realtors, they can also be a great source of leads for finding these types of distressed homes. Realtors often represent banks who end up with foreclosure properties, and their job is to unload them. Lending is what banks do best, and so they often contract this work out to a real estate agent. Agents generally have good connections and can get a list of bank-owned properties for you to go through.

Find out more about Finding Foreclosures at Foreclosure Property Listings.

categories: Foreclosed Properties, Foreclosures, Foreclosed Homes, Foreclosure Listings, Distressed Properties, REO

Distressed Properties, foreclosed homes, Foreclosed Properties, foreclosure listings, foreclosures, Mortgages, REO