Real Estate Investing with a Foreclosure Listing

When investing in the real estate market one of the most useful tools an investor can have is a foreclosure listing. A foreclosure listing displays a property which lenders are about to foreclose or a property on which lenders have already foreclosed. A good foreclosure listing includes listings of pre-foreclosures, auctions of foreclosures, and bank foreclosures.

Many real estate investors begin their search for properties with a foreclosure listing. The foreclosure listings provide them with addresses of pre-foreclosure properties whose owners are in default of their loans. Usually a foreclosure listing does not include phone numbers for the property owner so the investor will have to obtain that information from a separate source. Occasionally a foreclosure listing provider will include phone numbers of the property owners to their clients.

The foreclosure listing will also include information about the auction date for property that has suffered foreclosure. These types of dates are often tentative and investors must know that all auction dates are subject to erratic change. A few providers of foreclosure listings will update investors with information about changes in auction dates.

The foreclosure listing will sometimes include information about bank foreclosure, known as a Real Estate Owned (REO) foreclosure. Investors prefer REO foreclosures because if the bank that owns the property is selling the property that is in default, the title will be free and clear upon purchase of the property. Investors therefore often choose a foreclosure listing that is an REO foreclosure.

A very detailed foreclosure listing (provided by a few foreclosure listing services) might also include comparable properties in the area of the foreclosed property. This service is helpful to real estate agencies who wish to sell foreclosed properties. Real estate agents also need a foreclosure listing that is up to date. A service that gets its data directly from county records is particularly useful.