March 3, 2024


Good Living

100% Free Foreclosure Listing Services – Are Those Listings Reliable?

Private real estate research firms provide free foreclosure listings. Their lists contain all properties posted for sale across the county. These lists also include daily updates, and append a wide range of necessary data for evaluating upcoming sales. Company services are completely free during a trial offer period, usually lasting seven days. After the trial period, subscriptions for the best companies range from $30 to $50 per month. You are free to use as many trial offers as you wish.

In general, government agencies and lenders also provide free lists to comply with state law. These lists contains contain minimal information for each listed property.

Newspapers publish notices of intent to foreclose as a service for lenders. All lenders, in all states, have a statutory duty to provide public notice before repossessing real estate. The individual notices are reliable.

County agencies provide public records online, including real estate records and notices of intent to foreclose. These records are available as a public service provided at taxpayer expense. They typically disclose the minimum information allowed by law. County records are highly accurate, but may not be current.

Banks provide free lists of foreclosed property they own. They hope to sell all REO, to turn non-performing collateral into a performing loan. You must contact each bank or lender individually, which requires a large investment of your time. Their lists are reliable.

A few real estate agents specialize in foreclosed properties. Usually, they receive a listing after the sheriff’s sale or private auction. They may represent banks or other lenders, and list the property in the MLS. Their lists are reliable.

The question of reliability should also include business utility. If you hope to bid on property, relying on a free list is foolish. You will waste time and money collecting lists, researching necessary details, and inspecting homes to begin finding qualified prospects. The same information is available online for negligible cost. The information is available in minutes rather than months. Use a free trial offer from a full service company. You can easily find great prospects in your area, and perhaps bid in seven days.