How to Find Foreclosures

You can find foreclosures.

Whether you are looking to purchase a foreclose home to use as an investment property, for your first home or to resell, buying a foreclosed home in today's real estate market can be quite lucrative. Finding a foreclosed home in any kind of market may take research and know how.

Things You'll Need

• Computer
• Car
• Real estate agent

Instructions

1. Drive around the neighborhood where you are looking to purchase a foreclosed home and look at the for sale signs. You are looking for signs that read: REO, Foreclosure, Bank Repo

2. View pictures of the homes, prices and descriptions on banks' websites. Checking with the Fannie Mae and Freddie Mac website -- they purchase homes mortgages from banks -- can be helpful.

3. Look up government listings at the Department of Housing and Urban Development website at hud.gov/homes/index.cfm. On this website you can locate foreclosed homes from state to state.

4. Visit the county office of which you are looking to purchase the home. All foreclosures are listed with the county office, and in some states you may be able to just walk in and use a computer and make a bid on any foreclosed home that piques your interest.

5. Find a real estate agent in your area who will be willing to work with you to locate a foreclosed home. Real estate agents can look up the MLS listings and speak with other agents and may be able to find this information rather quickly, which could end up saving you a lot of time.

Tips & Warnings

• While Foreclosure homes can be very profitable, their can be risk to purchasing a foreclosed home, do your research and having detailed home inspection before the final purchase can help to alleviate and eliminate these problems.

References

• HUD Homes