Where is the best place to find pre-foreclosure leads?

Where is the best place to find pre-foreclosure leads?

Investor · St Petersburg, FL · Member since 2020 · 22 posts · 9 votes

Hey Guys,

I know pre-foreclosures/foreclosures are going to become more popular over the next few months, where are the best places to find leads?

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Attorney · Houston · Member since 2022 · 84 posts · 116 votes
4y

You'll find Notice of foreclosure sales in real property records. Some tax foreclosure sales will use a handful of law firms. These law firms may also post foreclosure sales on their website. Here are a few online websites: 1. ************** 2. auction.com 3. Grantstreet.com. 

Online auctions are very competitive and some in person auctions are too. If you want pre-foreclosure specifically, the court records is the way to go. There are companies that vet these and just send you a list. 

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  • Investor · SF Bay Area · Member since 2018 · 17 posts · 12 votes
    4y

    I've been using https://www.realtytrac.com as a starting point. The interface is a bit clunky but there's lots more data than Zillow. I'm also interested in hearing from others re: their sources of information. 

  • Bob ReinhardBusiness Member
    Lender · Patterson, NY · Member since 2017 · 488 posts · 186 votes
    4y

    Short of looking for a filed lis pendens without a foreclosure "start" associated with it at a county clerk, pre-foreclosures are "credit" issues, i.e., folks behind without a legal filing; n essence, a credit matter, @Anna Patty makes a good suggestion in just being a bloodhound and sniffing out circuitous leads.  I cannot be of more help because pre-forelosures fall out the "legal"/"filing" realm.

    Foreclosures can be found with slight diligence at the local recording office.

    Bob

  • Investor · St Petersburg, FL · Member since 2020 · 22 posts · 9 votes
    4y

    @Anna Patty Thanks Anna, I will check this out. I’ve also heard checking the local newspaper can be useful.

  • Investor · St Petersburg, FL · Member since 2020 · 22 posts · 9 votes
    4y

    @Bob Reinhard Thanks Bob! I will head town to county clerk’s office!

  • Real Estate Investor and Instructor · Gilbert, AZ · Member since 2010 · 303 posts · 332 votes
    4y

    The only source I get my pre-foreclosure leads from is directly from the county recorder or circuit court. Some counties publish this on their websites. Smaller counties you'll have to visit the office and search their computers for this info. Remember, the more difficult it is to get the information the less competition there is for you! In most states you're looking for the notice of trustee's sale, notice of sale or notice of foreclosure. This document typically contains:

    Owner name

    Lender name

    Attorney name

    Date of auction

    Location of auction

    Principal balance and/or judgment amount

    Here's the info I found for New Hampshire:

    Non-judicial foreclosure, no redemption rights for owner after the sale. 

    Sales held at property to be auctioned

    TERMS OF SALE A deposit of $5,000.00 in the form of a

    certified check satisfactory to the Mortgagee's attorney will

    be required to be delivered at or before the time a bid is

    offered. The balance of the purchase price shall be paid

    within forty (40) days from the sale date in the form of a

    certified check, bank treasurer's check or other payment

    satisfactory to the Mortgagee's attorney.

    Good luck Jake!

  • Attorney · Houston · Member since 2022 · 84 posts · 116 votes
    4y

    You'll find Notice of foreclosure sales in real property records. Some tax foreclosure sales will use a handful of law firms. These law firms may also post foreclosure sales on their website. Here are a few online websites: 1. ************** 2. auction.com 3. Grantstreet.com. 

    Online auctions are very competitive and some in person auctions are too. If you want pre-foreclosure specifically, the court records is the way to go. There are companies that vet these and just send you a list. 

  • Specialist · Member since 2018 · 124 posts · 64 votes
    4y

    @Jake Burhans

    I believe it will depend on where you’re investing.

    How are defining pre-foreclose?

    For my state, when someone goes into pre-foreclosure (I am defining it as - when they first are behind and get a notice from a bank that they’re behind on payments)- that information is not public. You can only use marketing to find these people.

    Now if you want to find a list of people where there is an auction scheduled that list depends on if your state is a judicial or non judicial state.

    I recommend either calling the court house (if you’re a judicial state) or calling a foreclosure attroney (if you’re a non-judicial State) and asking them to explain the foreclosure process for beginning to end- that way you can seek a list.

    Good luck!

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