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You might be thinking, “Why should I run a title search if it’s not something I have to do. I don’t want to have to pay money out my own pocket on something that isn’t necessary!” The truth is, the cost of running a title search on real estate foreclosures could pale in comparison to what you might pay if you don’t. This guide will explain to you why running a title search is important: Debts and liens: The previous homeowners of some foreclosures for sale may have borrowed money ... Read Full Post

You should be aware that foreclosure auctions can be intimidating, even for experienced home buyers. Sales happen quickly, and you might find yourself overwhelmed by the bidding process. The purpose of this guide is to instruct you on how to prepare yourself to make offers on foreclosed homes for sale at auction: Research foreclosure laws in your state: If you are in a state where judicial foreclosures are the norm, you may have to prove your ability to pay to a judge before the sale can be c... Read Full Post

Public auctions are the most common sale of home foreclosures, but there are other ways homeowners or lenders may sell a home. To pay back their loan and avoid a foreclosure on their credit, the owner may arrange with the lender to sell their home as a short sale. If the home fails to sell at auction, it may become an REO. These are the steps to the foreclosure process: Notice of Default: The process begins when the lender issues a Notice of Default to the homeowner to alert them of their non... Read Full Post

You probably know that foreclosed homes for sale are properties that have been defaulted as a result of the homeowner failing to pay back their loan over a period of time. These properties are most commonly sold at public auction. However, did you know that standard residential home foreclosures are far from the only type of real estate home foreclosures available?For example, residential foreclosures typically refer to any non-commercial foreclosures. These are usually single family foreclos... Read Full Post

Homes become Government Owned foreclosures (GOVs) in one of two ways: the homeowner defaulted on a government backed home loan or they failed to pay income or property taxes.While exceptions exist, there are three organizations that make up the bulk of GOVs: HUD, VA and USDA.HUD stands for The U.S. Department of Housing and Urban Development. Homes with defaulted loans from the Federal Housing Administration (FHA) commonly become HUD foreclosures.HUD acquires foreclosed homes and puts them up... Read Full Post

Users who spend time searching through our listings usually find a property they think might be worth pursuing. Once you find that property you should investigate it in person to make sure it's something you really want to buy.Depending on the type of foreclosure, you may only have a few weeks or a couple of months before the sale to investigate. Make sure you give yourself enough time to get all the information about the property you need to determine if it's a good value.The first thing you... Read Full Post