Foreclosure Listings

Overview

Finding your dream home can be difficult, especially when you need to struggle with strict budget constraints.
The price of a house in good condition located in a good neighborhood can be high, which leads many to look for attractive bargains.

One strategy that can help in finding a great deal is purchasing a foreclosed asset.
The reason? These residential properties can sometimes be bought at a fraction of their real market value from banks, lenders or the government.

Unfortunately, the original owners of these homes could not keep up regular payments, so eventually, after completing the process, the mortgage lender repossessed the house. After that point, the lender usually strives to sell the foreclosed asset quickly.

Websites in this industry charge users a monthly subscription fee that gives them the ability to locate foreclosed properties offered for sale throughout the United States.
Good commercial services usually maintain comprehensive, up-to-date databases that contain detailed information about potential homes in the user’s desired geographical area.

These companies serve a customer base that includes homes buyers, investors, and professionals in the real-estate market.

Information about distressed real estate opportunities may include:

• Bank-owned properties
• Government repossessed homes (Fannie Mae, Freddie Mac, HUD, etc.)
• Pre-foreclosure listings
• REO (real estate owned) properties
• Foreclosed house auctions
• Short Sales
• Sheriff Sales

Consumer Tips: How to Avoid Foreclosure Site Scams Online

Just like any other sector that involves buyers, sellers and money that switches hands, the real estate market also has its fair share of scammers, fraudsters and cybercriminals that operate online and look for potential victims.

Scammers use many illegal or unethical ways to trick consumers.
Some foreclosure websites contain outdated, inaccurate or false information about properties, which will not help potential investors, home buyers, bargain hunters or real-estate professionals.

Other fraudsters build and operate fake foreclosure search sites that use “phishing” techniques to gather private information from unsuspecting users and then steal either their identity or money.

Taking these steps will help you find credible and reliable services:

Consider Hiring an Independent Expert

First-time foreclosure buyers with no experience may want to hire a professional real estate agent for getting adequate support, guidance, and assistance.

Take Advantage of the Free Trial

Often, major foreclosure sites provide a free trial period so that potential members can test drive the service and evaluate its quality.
This is a great way to explore the features free of charge and experience the benefits of the website before investing in a monthly or annual membership.

Investigate the Foreclosure Site’s BBB Record

Check the company’s record on the Better Business Bureau’s website.
What you’ll find there, will help you evaluate whether it’s a legitimate business that deserves your money and trust or if you must look elsewhere.

Look for current BBB rating, customer reviews, complaints, warnings and alerts on their business profile.
Also, learn how long it has been in business – a potential indicator of experience and reputation.

If the website is not even listed with the BBB, this is a bad sign.
On the other hand, if the foreclosure listing service is certified as a BBB Accredited Business, it’s an important positive signal.

Pay Close Attention to Red Flags

Learn how to protect yourself better when ordering goods and services on the internet, to avoid scammers and keep safe in general.
Knowing how to check if a website is legitimate or not is the first line of defense.