How do I find real estate foreclosures in my area?
Lance asked:
Hello, I’m an aspiring real estate investor. I’ve done my research and would like to buy a foreclosed home at a lowered price in the Mississauga area. How would I go about finding out where they are located? Should I just go ask the local banks?
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Hello, I’m an aspiring real estate investor. I’ve done my research and would like to buy a foreclosed home at a lowered price in the Mississauga area. How would I go about finding out where they are located? Should I just go ask the local banks?
July 7th, 2010 at 9:33 pm
foreclosures should be advertised in the legal section of many of your local newspapers. The agency handling the foreclosure will be identified therein. Bert
July 9th, 2010 at 2:50 pm
The banks can not legally sell them to you, they would just send you to their RE agent.
Any local RE agent can get youAU list and show you foreclosed homes. They are sold the same as any other home, but of course at about 90% of FMV, so you see some savings. TheMom
July 12th, 2010 at 5:15 am
You can also contact a local Realtor in your area. loladrewblue
July 15th, 2010 at 7:56 am
only smart people use BUYER’S AGENTS when seeking to buy real estate. Thus, hire one
and tell him you seek x percent discount from current high prices, etc.
do not STIPULATE FORECLOSURES………….or that will reduce the buyer’s options to get
you a good deal……….and never permit your agent to do dual agency with what he shows you.
available to help further kemperk
July 16th, 2010 at 6:33 pm
I disagree with the last comment.
Allowing your agent to double-dip on the commissions will often put you in front of other buyers that are long-term associates.
My former business partner works as an REO asset manager for Fannie Mae. You have to figure your way in with those agents.
If you are on the outside these days your chance of getting a foreclosure at a price you can really make money with is pretty slim. Matt Gerchow
July 19th, 2010 at 1:09 am
Ask some Realtor in that area for that information. You can also check a book about real estate for additional knowledge. cara_R-E-book