PDA

View Full Version : Online info for foreclosure auctions?



Stephen Tashiro
10-24-2018, 12:08 PM
Is there an online site that gives information for real estate foreclosure auctions that are not yet completed?

On online real estate sites ( such as zilow, trulia, remax etc) the foreclosure auction for property classified as "foreclosed" is usually over with. The property has been purchased at a foreclosure auction and you are invited to contact a foreclosure agent who acts on behalf of the company who bought the property.

Websites list "pre-foreclosed" properties, but the legal definition of "pre-foreclosed" is that the owner has been notified that foreclosure will take place if past due payments are not made. So there may be no forclosure auction scheduled for pre-forclosed property.

Perhaps one of the last functions of newspapers is to be the source of information for future foreclosure auctions..

James Waldron
10-24-2018, 12:38 PM
Is there an online site that gives information for real estate foreclosure auctions that are not yet completed?

On online real estate sites ( such as zilow, trulia, remax etc) the foreclosure auction for property classified as "foreclosed" is usually over with. The property has been purchased at a foreclosure auction and you are invited to contact a foreclosure agent who acts on behalf of the company who bought the property.

Websites list "pre-foreclosed" properties, but the legal definition of "pre-foreclosed" is that the owner has been notified that foreclosure will take place if past due payments are not made. So there may be no forclosure auction scheduled for pre-forclosed property.

Perhaps one of the last functions of newspapers is to be the source of information for future foreclosure auctions..

The RE agent can make a commission for assisting you in buying a pre-forclosure property. The RE agent can make a commission for assisting you in buying a post foreclosure property. The RE agent can't make a commission if you buy at an auction, so there's no incentive to encourage you to go there.

Most such auctions are conducted by Sherrif's or other officials and are generally advertised on their web sites these days. Check your city/county on line offerings. Bankruptcy auctions are done by the feds and they too have on-line sites.

Private auctions are generally accessible by a good Google search. Try it, you may like it.

Stephen Tashiro
10-24-2018, 9:37 PM
The site publicnoticeads.com is a good way to look for notices that were published in newspapers.
However, I find their "advanced" search interface to be buggy. The field called "With a least one of these words", seems so to work like "With all of these words".

Bill Dufour
10-25-2018, 9:33 AM
My county has auctions every week or two. We are almost the center of underwater houses during the mini depression. My Mom's county in the SF bay area has a foreclosure auction only once per year. Ends up they both have roughly the same number of houses at each auction! Our country prices dropped by 20-40%. in hers they stopped going up is all.
Bill D.

Bill Dufour
10-25-2018, 9:39 AM
I looked into it years ago and found in my county the loans are filed by last name not address. There is no real way to determine if the loan is a first loan or a forth loan. Buying anything other then a first loan is almost worthless. The loans could be filed under names before or after marriage, divorce, relatives carrying loans etc.
If you buy a second loan the house is auctioned off. All money goes to the first loan, any left over goes to second loan and so on down the line. The old owners have one year to raise the money. and buy it back for the old loan cost regardless of any improvements you put into it.
Bill D.

Stephen Tashiro
10-25-2018, 2:02 PM
I looked into it years ago and found in my county the loans are filed by last name not address. There is no real way to determine if the loan is a first loan or a forth loan.

It sounds like you tried a do-it-yourself title search. Isn't that what title companies do (for a fee)? I think they are supposed to determine all liens on the property.