Where to look.
Where Do I Find Foreclosure Sales? The
Foreclosed or distressed properties are available from several
sources, including Fannie Mae, Freddie Mac, HUD, VA and FDIC.
Will Find What Types of Homes are Available?
It depends on the source.
You're not likely to find HUD or VA homes in affluent or expensive areas. But
many of them are in nice neighborhoods where the cost of housing isn't as high.
Most agencies offer a wide selection of homes, including single-family homes,
condominiums, and town houses, located in a variety of neighborhoods.
of these homes are relatively new, others are not so new. Some may require repairs.
How Do I Find Them? Is there a listing anywhere?
foreclosure sales are not listed on the Multiple Listing Service (MLS). Fannie
Mae advertises on the MLS, but HUD does not. So you need to know where to look.
You can find out from a local real estate broker but make sure you're working
through a broker who knows about foreclosure sales. Ask if he or she has ever
handled one before.
Unfortunately, many agents are not active in the foreclosure
market, even though it represents 30 percent of the real estate market in most
cities. Check with an agent about their experiences before you start working with them.
Look It Up Yourself... On the Web!
Fannie Mae, Freddie Mac, HUD, VA and other organizations maintain searchable databases
on the Internet, so you can do some preliminary shopping to find out what homes
available, right from your computer.
That's WHERE to Find Foreclosure
Let's go shopping and learn HOW to purchase a foreclosed home!
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