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Risks Of Free Real Estate Foreclosure List
from:It seems like everyone out there in the real estate business is trying to sell or buy foreclosures. The most used tool used to do this is the free real estate foreclosure list. In some cases, the free real estate foreclosure list is offered on free trial for a membership site, so you can try out their services. You can get get free information from these sites, the city or county, and even government sites like HUD.gov. There are some risks involved in getting information from free sources that you should be aware of before making a final decision.
Outdated Information
Some lists aren't updated frequently enough and the information is outdated. This can cause problems if you spend a lot of time researching a specific property on the free real estate foreclosure list, only to find out it is no longer under foreclosure. In between the time the list was created, posted, and subsequently read by you, the owner may have found a way to pay back the bank, gone into bankruptcy (which stops the foreclosure process for a period of time), done a short sale, or sold conventionally. Don't waste your time assuming a property is still being foreclosed if you get it off a free real estate foreclosure list, always double-check its current status.
Insufficient Information
Obviously, the free real estate foreclosure list may not be as comprehensive as the paid ones. You want to be able to get as much information on a property before you buy: the square footage, the comparable market sales, the condition of the property, and the liens that might be outstanding. Even if you pay for a list instead of getting a free real estate foreclosure list, you will want to give the property a visual inspection and even see if you can opt to get a home inspector in too during the buying process. Some foreclosures allow you to do that, but you have to add a special clause to the contract.
Inaccurate Information
Buying foreclosures is a risky business. None of the information on a paid or free real estate foreclosure list is guaranteed. Foreclosures are sold “as is” and can come with huge repair costs and back taxes owed. You have to do your homework regardless of the information you find on a list, since it might be completely inaccurate. It is up to you, the buyer, to verify any information you get from any list, whether it is a paid or a free real estate foreclosure list.
Foreclosure Short Sales Real Estate News
Speeding Up Short Sales - New York Times
 New York Times | Speeding Up Short Sales New York Times Fannie and Freddie must also respond to initial requests for a short sale within 30 days of receiving the buyer's submission. “Short sales are huge right now,” said Peter Spino, the foreclosure services manager for Community Housing Innovators in White ... |
Scottsdale, Arizona Short Sale Realtor / Specialist - RealEstateRama (press release)
Scottsdale, Arizona Short Sale Realtor / Specialist RealEstateRama (press release) by Nicholas McConnel Scottsdale, AZ – May 24, 2012 – (RealEstateRama) — With over 20 years of experience in dealing with Scottsdale, Arizona Real Estate, rest assured your best interests will be properly represented with Nicholas McConnell at Coldwell ... Letter: Some law firms refuse settlements that can avoid foreclosure |
Weighing the pros and cons of real estate short sales - WBEZ (blog)
 WBEZ (blog) | Weighing the pros and cons of real estate short sales WBEZ (blog) In January, short sales outpaced foreclosures for the first time. To explain why, let's pretend you're one of the 11 million homeowners with underwater mortgages. If you can't afford to make your monthly payments or if you are no longer able to cross ... |
Sales of previously owned homes rise 3.4% in April - Philadelphia Inquirer
 USA TODAY | Sales of previously owned homes rise 3.4% in April Philadelphia Inquirer Foreclosures and short sales (in which lenders agree to accept less than is owed on the mortgages) accounted for 28 percent of April sales, the association said, down from 29 percent in March and 37 percent in April 2011. Foreclosures sold for an ... Local home sales jump, prices show stability South Florida's real estate market looks hot again Sales of existing homes increase in April |
Short-sale aid takes shape - TheNewsTribune.com
 TIME | Short-sale aid takes shape TheNewsTribune.com Bank of America made the program official last week, calling it “relocation assistance” for people with deliquent mortgages who have a qualifying short sale. Richard Eastern, a Washington state real estate broker who specializes in short sales, ... Why This May Be the Ideal Time to Buy Real Estate |