How to Find Foreclosures for Sale
- 1). Determine what type of foreclosure you are looking for and how much money you have to spend before beginning your search for a foreclosure. Obviously, if you are looking for commercial space, your search will be different than if you are looking residential property, and knowing the amount of money you have to spend will help you to avoid wasting time in the early stages of your search.
- 2). Contact a real estate agent that specializes in foreclosures. Asking friends and family for a referral to a broker they have worked with is always a good way to find a trusted real estate broker. Even if they don't work with foreclosures, they almost certainly know somebody who does know.
- 3). Check your local phone book or online internet directory in the Real Estate section for a broker that specializes in foreclosures of the type of property you are looking for. While you will need to do some additional screening on anyone you meet this way, it is possible to find a good broker from the phone book.
- 4). Visit your local state licensing board's website to make sure that any real estate agent you are working with has a valid license in the state you are in. In some states, information about liens and judgments against real estate brokers and brokerage firms are available through the state licensing board as well.
- 5). Check with your local bank for a list of foreclosures in your area. Many banks provide free lists of foreclosed properties with scheduled sale dates to customers upon request. If you already have a mortgage with a bank, check there first.
- 6). Look at websites that provide national foreclosure listings. Popular websites include Foreclosure Listings, Free Foreclosure Database, HomePath, and Bank Foreclosure Listings. While these types of sites can be good for finding foreclosures, you should be wary of any site that offers to put you in contact with a particular real estate broker or company.
