| There is no doubt that a foreclosures list can be very | | | | deal directly with the homeowner since the property |
| beneficial in assisting you in purchasing bargain real | | | | has not yet been repossessed by the bank. Keep in |
| estate. You must keep in mind however, that just | | | | mind that just because the owners of the property are |
| because a property is being sold after being | | | | behind on their mortgage that it does not necessarily |
| foreclosed on that it is not necessarily a good buy. It | | | | mean that either they want to sell the house or that |
| does not matter if that property is coming from a seller | | | | the bank will take it back. At this point in time, the |
| in preforeclosure, an REO being sold by a realtor or | | | | owner still has the right to bring the mortgage current |
| from a bank foreclosure list. So buyer beware, | | | | and avoid foreclosure. Be aware of this when you |
| whenever purchasing any real estate you must take | | | | speak to the homeowner and treat them with respect. |
| all necessary precautions. | | | | There are foreclosures lists that are bulk REOs. This is |
| Getting back to foreclosures lists, they come in | | | | a package of foreclosed properties that a lender will |
| different forms. We have foreclosure lists that are sold | | | | sell to an investor or investment group. They are sold |
| by companies such as RealtyTrac. RealtyTrac has a | | | | in very large quantities to the investor and are typically |
| very comprehensive foreclosures list of properties all | | | | broken down by that investor or investment group into |
| over the country and charges a monthly subscription | | | | smaller packages to be purchased by other investors. |
| fee. This can be a great starting point. You must be | | | | The advantages of looking to purchase a property |
| aware when buying a service such as this that you will | | | | from this foreclosure home listing is that there is no |
| have to do a great amount of research on your own | | | | cost to receiving this list and typically you are able to |
| to determine whether or not a property is actually | | | | get more information about the property from the |
| worth pursuing. | | | | person with the list. With this list you are also dealing |
| There are local foreclosures lists that are put together | | | | directly with the owner of the property. More or less, a |
| by local companies. These lists can be as specific as | | | | one stop shop. |
| to a certain county. This foreclosure home list will be | | | | Whatever type of foreclosures list that you are using, |
| very current and have an emphasis on properties that | | | | be sure that you find out all that you can about the |
| are in pre-foreclousure. With this list you will be able to | | | | property before making the purchase. |