Baltimore HUD Homes Blog

Can You Find Good Foreclosed Homes on Free Lists?
Locating a reputable free list of foreclose homes is challenging. Real
estate investors earn the bulk of their income by purchasing homes
cheap and selling them for a profit.

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Thus, foreclosed properties are in high
demand. If buying a bank-owned or foreclosed home, you can expect to
save 20 to 50%. The problem lies in accessing a list of foreclosed
properties. Several websites offer listings, however, a subscription fee is
required. While some websites will advertise free listings, there are
advantages and disadvantages to these types of listing services.

Free Foreclosed Listings Come with a Price

VA REO Homes owned by the Department of Veterans Affairs are also accessible on a bidding system through real estate agents. The VA to some extent fixes up their foreclosures homes. The VA from time to time offers vendee (seller) financing with few processing costs, low interest, and no prepayment penalty. You do not have to be a Veteran to purchase these easy to qualify for homes.VA Glossary

If searching for a free online listing of foreclosed homes, you will
come across several websites offering free information. However, the
information provided is usually on a trial basis. The majority of listing
services involve a subscription fee before you can search for a home.

Nonetheless, many services are agreeable to a free trial. Of course,
before you can take advantage of the free trial, you must provide the
listing service with your credit card information. At the conclusion of
the free trial, they will conveniently bill your credit card, and will
continue to do so until you cancel.

Advantages of Free Foreclosed Listings

Although free foreclosed listings are not easily accessible, once you
locate a good list, you have the opportunity to purchase an inexpensive
home. The best way to find a free listing is through a realtor website.
When banks work with realtors to get properties sold, the real estate
agent is given permission to list the homes on their personal or company
site. Moreover, some states will compile a free listing of foreclosed
homes throughout a region.

Free listings are ideal because you can find homes for as little as
$10,000. Furthermore, choosing a home from a free foreclosed listing
allows you to shop for a home without leaving your computer. Free foreclosed
listings include all pertinent information about the home. For example,
property descriptions will point out the home?s square footage, number
of bedrooms, bathroom, additional features, sale price, condition, etc.

Negative Aspect of Free Foreclosed Listings

Unfortunately, a large number of free foreclosed listings are a waste
of time. Because the information is readily available to anyone, most of
the properties are contracted before you receive the list. Real estate
investors are always in search of free listings. Hence, they generally
have the first pick of cheap properties. Moreover, free listings are
not updated on a regular basis. If you are serious about buying a
foreclosed home, spending a few bucks a month for an accurate and useful list
will provide the best results.

View our recommended source for Baltimore HUD US Department of Housing and Urban Development Homes
foreclosure listings
online

Carrie Reeder is the owner of ABC Loan Guide, an informational website about
loans and bad
credit mortgage loans.