Best websites for PRE-FORECLOSURES listings?
Hello Fellow Investors,
Which websites are the best for sourcing/getting pre-foreclosures listings online? I do see my county list in the Legal section of every Fridays edition of my city newspaper, but I need more sources online.
Thank you all.
have you tried realtytrac.com or foreclosure.com?
Hi, I'm just up the road from you a bit. In Georgia, www.georgiapublicnotice.com carries all of the foreclosure listings. They have to be published each Thursday for the 4 Thursdays proceeding the auction which is the first Tuesday of the month. So for the auction January 5th they were in the Paper December 10th and you can find them on that web site by searching that day.
Also, Cobb county has started using auction .com for all of their foreclosure auctions. So if you search Cobb county on auction.com and only look at the foreclosure auctions occurring January 5th you should get pretty much the same list.
Auction.com has sooo many now. They also have sooo many that never make it to auction on the courthouse steps, and never tell you that they arent' making it there. Communication seems to be their last priority. They seem to be marketing heavily to agents to come list, and the counties to come list pre-foreclosures.
I use the trustee websites to look at properties coming up for pre-foreclosure. They list the property and date of sale and will list the opening bid amount a few days prior to the courthouse steps sale. For GA you can look at Brock & Scott https://www.brockandscott.com/BrockSearch.aspx
Let me know if you need any further help!
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#2 All Forums Contributor
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@Lawrence Monyei can always default to the legal publication of the county were the property is .. each forclosure must be published in a legal publication.
Thank you guys, I have also seen more information at www.realtystore.com. After getting the properties in pre-foreclosure; how can I get the exalt value of HOME EQUITY in the property without and/or before approaching the home owner in default?
Thank you.
The exact balance of their mortgage is not public knowledge so only 2 parties know for sure, the lender and the borrower. The lender won't tell you and in fact probably legally can't. So the homeowner is really the only one that could tell you.
But what is public record is the original note which is filed with the county.
Since you have to do at least a basic title search before bidding on a foreclosure you can pick up the date and the amount of the original note. I use that and some excel formulas to figure out approximately what the balance is.
This is not exactly accurate because I don't know if they missed payments or made extra payments but lets me get close enough to know if it's one I'm potentially interested in bidding on at the auction.
There's a lot of complexity around buying a property out of foreclosure and you can get yourself in trouble in a hurry so please make sure you read all of the info here on BP about it and realize it is different state to state. Talk to a local real estate attorney if you can before starting.
if you track the register of deeds you may be able to find mortgage modifications which have an updated principal balance. Otherwise you can estimate using math.
Hey Aaron Fowles, I have never worked as a Title researcher or in a Title company, but I have been into the Deed room of my county twice before, and saw tens of people doing Title search of properties. I also know that all liens and mortgages will be listed on the property Deed; if I want to search by myself, what information do I need to do the Deed search of an owner in default?
Thank you.
The courthouse here in Austin releases a printed copy in their office every month. Something like that would be the best source in your county or else the weekly paper listings. Online I had results with a government auction site.
http://myinvestco.com/review/auction/
@Lawrence Monyei I did some googling and came up with http://www.cobbsuperiorcourtclerk.org/
You do need to have firefox or IE, but it's got lots of good information.
Thank you Aaron, I have used the website before and today, it does not show minor/secondary liens second mortgage, re-finances, and mechanic liens. I was reading a book today, and I came across websites like www.titlesearch.com, and www.americantitleinc.com.
This tow websites charges some fees, I will check them out very soon.
Thank you.
