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Foamy is God asked:
My realtor has not provided me with a list of foreclosures.
I have not asked……should I specify that I may be interested or should/would they already be included in the listings that she sends me via email?
Do you know of any free sites that has a list of foreclosures for a certain state?
My realtor has not provided me with a list of foreclosures.
I have not asked……should I specify that I may be interested or should/would they already be included in the listings that she sends me via email?
Do you know of any free sites that has a list of foreclosures for a certain state?
Tags: Foreclosures, Realtor
June 20th, 2007 |
Tags: Foreclosures, Realtor
June 22nd, 2007 at 10:29 pm
Real estate agents don’t always check the MLS specifically for foreclosures. If it does not state that it is a foreclosure on the MLS description then your realtor may not know. The listing agent most certainly know if it is a foreclosure or not because the seller will be the bank and there will be no sellers disclosure. Loan companies should know also, I’m not sure how they know other then checking the MLS that might show that it is a foreclosure. If you go to and ask the agent listed as the sellers agent call them and ask for the sellers disclosure. If there is not a disclosure then it is probably a foreclosure or HUD home. Even if It is a HUD home, they usually have inspectors that inspect the home and therefore have some sort of inspection report. If you are unsure of the disclosure you need to ask your realtor, she can give that to you. You have every right to see the dislcosure prior to starting a contract. Why would you put a contract on the home without knowing what problems or ammenities there are (on the disclosure). If it looks good, you can ask the realtor if you can see the appraisal (they probably won’t have one) and the survey. If they don’t have either of those, they will have to be added to the closing costs. I do not know of any site that lists foreclosures. You can try homesales.gov for homes for sale by the government.
June 25th, 2007 at 7:51 pm
Yes, but its work. Your best bet is to contact realtors that list for banks or REO’s, which are companies that broker foreclosure deals. Realtors with foreclosure listings will have lists already compiled. Any realtor can look up individual foreclosure listings, but you would have to request it and then it would take a minute. I f you see a foreclosure, call the realtor in the yard, then ask what other properties they have that are foreclosures. Good Luck! You might try foreclosures.com but they charge a fee and are often out of date.
June 28th, 2007 at 9:29 am
Most agents do touch foreclosures because they don’t get paid. In most states, foreclosures are done at an auction and the Buyer would need to compensate the agent.
Foreclosures are different from banked owned (REOs) and short sales.
June 28th, 2007 at 10:24 pm
Lord no….most foreclosures DO NOT have a co-broker agreement in place.
So why would I research a home for a client that I’m not going to get paid on?
June 29th, 2007 at 8:20 pm
Huh— I normally agree with Expert Realtor.
But I have bought two foreclosures and they both had normal agents fees for both parties. In other words, my agent got paid a normal amount for representing me.
I’m finding foreclosures myself just by searching the MLS in my area. Like 20% of the homes listed are either short sales or foreclosed. You’ll see it in the agent remarks.
Ask your agent to be sure to include foreclosures. Ask them specifically if they will get their commision on them– then you’ll know the situation.
Buying a house is a big thing and you should do everything you can to save money. So find some foreclosures to consider!
July 2nd, 2007 at 7:10 pm
Most foreclosed homes (REO’s) are listed with an agent these days, especially since there are so many of them. Banks don’t want to deal the day to day phone calls from buyers inquiring, they want to do as little as possible to prepare them for sale and they want them to sell quickly. They don’t make money having a bunch of unsold homes in inventory.
If a foreclosed home is in too awful of shape, your agent may not have included them because they sometimes don’t qualify for financing that most buyers are getting, due to lender required repairs. Exception would be FHA 203K (FHA purchase & rehab).
I am sure if you mention to your agent that you would be interested in foreclosed homes that would be financable, she would include them, if she isn’t already.
FreddieMac Homes…
HUD Homes
Fannie Mae Homes…
VA & Other Homes…