Photo Credit: Stuart Miles
If you’ve ever thought of purchasing a foreclosed home in your area then you know that you have to jump through hoops to find free listings.
When I first took an interest in real estate I thought foreclosed homes would be my ticket to making money. The problem though, was that every time I performed an internet search for foreclosed homes in my area I would be bombarded by sites wanting me to pay money to view them.
I never ended up paying money to view foreclosures in my area, so whether or not these websites are helpful I can’t say. However, I have now collected my own resources for hunting down foreclosures in my area for free.
If you’ve been wanting to check out foreclosures in your area here’s how you can find them for free.
Fannie Mae, Freddie Mac, and HUD Listings
I look at foreclosed homes often to see if there are any great deals in my area. I always begin my search with Fannie Mae, Freddie Mac, and HUD foreclosure listings.
Here are the links to these sites where you can perform a free property search:
It’s important to note that these homes are generally offered to owner occupants first for a specified period of time. Unsold homes are then offered to the general public, including investors.
A Good Real Estate Agent
I love having a real estate agent who is a good family friend. He is licensed to list REO (real estate owned properties) and usually knows the latest scoop on cheap properties in my area.
While any real estate agent can dig up more information than you can find yourself, there are some real estate agents who specialize in foreclosures and REO properties. If you’re actively looking for a foreclosed home, finding a good real estate agent is one of the first things you should do.
Bank Websites
Some banks will publish listings of their foreclosed homes on their website. I’m surprised at which banks do and don’t do this in my town.
Generally the bigger banks will publish a foreclosure list but the smaller banks are worth checking out, too. Just visit websites of the banks in your area and search for “foreclosed homes.”
Other Places to Find Foreclosures for Free
The three sources above are where I perform my searches to find foreclosures but there are other places that you can check out.
If you want to continue your search consider checking the following:
- Newspapers (Legal Notices Section)
- Public Records
In addition you can also just drive through the areas you want to purchase real estate in. I do this sometimes and often find homes that I haven’t see listed anywhere else.
It may take a while for you to find a good foreclosure to purchase or invest in, but now you can start your search for free.
Where do you start your search for real estate or foreclosures?