Finding Foreclosure Bargains in the United States

Written By Steps To Faculty Published June 2nd, 2010

There is a lot of money in foreclosures especially to investors, but one still needs to be keen when choosing such properties. It is often acclaimed as the best way for both the owner/occupant and the investor to acquire the best deal out of it.

Step 1 Look into auctions

The increase in foreclosures are good for bargain hunters searching for home or property, but not good for home owners. Auction sales of foreclosed properties have come up with exceptional opportunities for buyers in the recent past. Real estate house Hudson and Marshall in the United States, for instance is marketed over 500 such properties in Michigan State alone. Visit to find great bargains. You may also visit for hassle free foreclosure purchases.

Step 2 Go to the courthouse

Dozens of other companies are also widely known to specialize especially in bank foreclosed properties. Most of these properties normally have gone through the all process of foreclosure with the banks initially taking them away from owners who were not able to pay back loans to cover up for them. They are thereafter put through public auction process mostly held on the courthouses where the homes failed to sell. Visit your local courthouse to find these housing gems.

Step 3 Stop by the bank

The banks have put foreclosed properties back to the market through the normal real estate agents. If the properties take 90 days or more on the market, with expenses going up, banks become very impatient. That’s when they invite the auction agents or companies to reduce the price to make quick sales. The sale is usually a very simple transaction. Unlike a foreclosure sale conducted on the courthouse steps, all these homes are sold free and clear, no claims and debt. The seller even pays for title insurance hence better purchase bargain for the buyer.

Step 4 Apply online

Investors and other foreclosure property buyers can also find a better bargain through the use of online applications. One can carry out a bid through the use of computers. Here, there is a possibility of getting an up-to-date list of different types of foreclosures including auctions, pre-foreclosures as well as bank-owned foreclosures. They contain interactive mapping applications that allow the interested users to browse through changing property search that make use of ordinary map, satellite and the birds-eye photographs views.

Remember, a foreclosed home may need a little work, but in the long-run will prove to be a good bargain.

Roger Due

Investing in Your Destiny® & Coaching Program - Wealth Building Summit Dallas, Texas

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