| Buying homes at a public auction requires a degree of | | | | The best foreclosure listings are free, up to a week, |
| expertise to avoid a reckless purchase. No one wants | | | | during free trial evaluations. In addition to corporate |
| to deal with clouds on title or other hidden traps. | | | | accounts, individuals may also try free offers without |
| Fortunately, the information required to evaluate each | | | | cost or obligation. The best companies welcome |
| home properly is available through online databases. If | | | | individual applications and provide each person the |
| you use only high quality companies that provide | | | | same functionality and capacity available to major |
| detailed foreclosure listings, your search becomes | | | | corporate subscribers. |
| much easier. When you compare several top-quality | | | | Finding great deals when banks are involved is difficult. |
| firms and their search capabilities, you will find at least | | | | Bank collateral seldom produces high profit margins |
| one great source for locating all pending sales within a | | | | because banks protect their liens judiciously, pay all |
| reasonable driving distance. | | | | taxes, and watch sales closely. Older mortgages offer |
| All of the best lists include routine information for bank | | | | the best opportunity, especially when the lending bank |
| foreclosures, yet supplemental data contains the real | | | | chooses to limit bids to the outstanding lien balance. |
| value. All public record information must be included for | | | | Recent bank mortgages with high loan balances, |
| each property contained within the list. Use great care | | | | especially homes purchased with a low down |
| when considering any property involved in bankruptcy | | | | payment, rarely produce substantial profit. |
| or general litigation. Unpaid taxes however may | | | | The best list companies also include bank REO. Bank |
| indicate a prime prospect. Excessive lien balances held | | | | regulators encourage all banks to liquidate |
| by banks and other commercial lenders may also | | | | non-performing assets quickly. Banks however resist, |
| quickly eliminate consideration. This determination is | | | | hoping to perhaps to sell properties for more than the |
| easy using a top-quality list, because valuations and | | | | total cost of foreclosure. The oldest REO may be |
| comparable sales are included. | | | | available for a bargain when regulators lose patience. |