| State law requires publication of foreclosure notices. | | | | on a public bulletin board. The bulletin board, in the best |
| As a result, many different sources emerge to provide | | | | circumstance, is seldom complete. Potential buyers |
| lists of notices free of charge. The utility of these lists | | | | may remove notices if interested in bidding. County |
| remains highly debatable if prepared without strict | | | | real estate departments also provide public access |
| quality control standards. User beware because quality | | | | computers to search notices posted within the county. |
| caries widely. | | | | Banks rarely publish pre-sale lists, but do gladly provide |
| The best foreclosure listings come from private | | | | lists of REO to anyone who inquires. The REO list |
| research firms. Public record downloads re-populate | | | | includes all properties obtained by foreclosure and now |
| databases daily. The lists contain few errors, if any, | | | | owned by the bank. These properties typically do not |
| and entries are as accurate as the individual records | | | | offer the substantial discounts available at auctions. |
| filed with government agencies. The best companies | | | | Banks may use a listing agent to enter REO into the |
| encourage users to evaluate their lists, free of charge, | | | | MLS. |
| before paying a subscription fee. Once you are | | | | Serious bidders know that a list of pending sales, |
| satisfied, a regular subscription is available for a low | | | | standing alone, is almost worthless to a casual user. |
| price of $30 and ranging up to $50 per month for all | | | | The most challenging aspect of buying foreclosed |
| essential data. Anyone may use free trial offers for a | | | | homes at auction is completing all research required. |
| week before subscribing. Evaluating multiple companies | | | | Title problems, bankruptcy, court injunctions, tax liens, |
| over the course of a month, using free offers, should | | | | second liens, and many other legal issues may |
| be sufficient to find a great resource for about $30 a | | | | complicate the sale, and cost far more to resolve than |
| month. | | | | the property is worth. A great list includes these items |
| County courthouses provide free access to notices | | | | for your review automatically. |
| through two sources. In most counties, notices appear | | | | |