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  1. #1
    beadedjewelrydesigns
    Guest

    Default finding foreclosures

    We are eventually wanting to rehab foreclosures. We have already done

    one, however we didnt plan good for it and ran out of money before it

    was completely rehabbed which in turn, left us with the payments on it.

    Next time we will be better prepared.

    My question is, besides the realtor websites, is there another way to

    find foreclosures for free, without having to sit on the courthouse

    steps to bid on them.

    I am in St. Louis, MO.

    Thanks.








  2. #2
    lisa196622193
    Guest

    Default finding foreclosures

    Yesterday my fiance and I took the day off work and went to the

    courthouse to get our marriage license, and there were a couple of

    guys selling foreclosures on the courthouse steps. Got one guy's

    business card and he said that the foreclosures were listed on his

    website. He is a real estate lawyer/trustee, not a realtor. All the

    foreclosures are listed on the law firm's website for free. I don't

    know how it works, but he said the county sherriff's office doesn't

    sell the houses; he is a trustee for foreclosed homes in my county

    (and some other counties, too). I asked him if he has flipped any of

    these houses and he said no because he is not allowed to as a trustee.



    I looked at the law firm's website last and this morning. All homes

    require a 10% cash deposit. I saw one that only required $9,000 cash

    down, which means that the house is selling for $90,000. That seems

    ridiculously low to me, and unbelievable, when houses in that area

    are going for $500K-$600K. I looked up some of the homes on

    zillow.com to find out what they are really worth.



    I sent the lawyer an e-mail this morning describing my situation and

    what I am interested in. I am asking him if it is really true that I

    can get a house for $100K or under. I don't know how to go about

    buying foreclosures, I have no idea how it works.



    I am hoping that it's really true that some houses can go that low.

    But I don't understand why. Some foreclosures are very high, and

    some are low.



    May I send you a PM? I need to learn more about foreclosures.



    Lisa



    --- In Budget101_@yahoogroups.com, "beadedjewelrydesigns"

    <beadedjewelrydesigns@...> wrote:

    >

    > We are eventually wanting to rehab foreclosures. We have already

    done

    > one, however we didnt plan good for it and ran out of money before

    it

    > was completely rehabbed which in turn, left us with the payments on

    it.

    > Next time we will be better prepared.

    > My question is, besides the realtor websites, is there another way

    to

    > find foreclosures for free, without having to sit on the courthouse

    > steps to bid on them.

    > I am in St. Louis, MO.

    > Thanks.

    >










  3. #3
    April
    Guest

    Default finding foreclosures

    Here is a site that helped us. It is free and goes straight to most

    lenders sites.



    http://www.biggerpockets.com/bank-reo.html






  4. #4
    Ann Garner
    Guest

    Default finding foreclosures

    At 07:45 AM 8/16/2008, you wrote:

    >I am hoping that it's really true that some houses can go that low.

    >But I don't understand why. Some foreclosures are very high, and

    >some are low.



    The reason they can go so low is that they are being put on the

    market to try to get what is left of the mortgage. In other words,

    the bank just wants what is still owed on the house.

    Ann in Arkansas










  5. #5
    April
    Guest

    Default finding foreclosures

    Do not write off a foreclosure home just because the price is low. You

    could miss a great opportunity.



    Due to a promotion by my hubby's job, we had to move to another state

    quickly but we did not have tons of money to buy another house but the

    area was small and had limited rental housing. I immediately went

    searching through the foreclosures. I immediately was drawn to a house

    which was built in 2004, almost 1800 sqft, 4br 2.5 bath, walk in

    closets, cathedral ceiling, back deck, small front porch, and two floors

    for the astounding price of $79,000!!!



    My husband did not even want to waste his time looking at the house

    because it was priced so low. He thought it must obviously be a wreck on

    the inside. He went in kicking and screaming, but he went. He LOVED the

    house as did the family and the realtor. The problems with the house

    were minimal. We needed a new thermostat and the air unit needed a

    repair, the upstairs bathroom had a leak underneath the sink, and the

    attic was in need of insulation. We wrote an offer and are now living in

    our "new to us" house! Our other house that we own in Georgia is an 1100

    sq.ft. home with 4br 1.5 bath and it was built in 1970. That home cost

    us $64,900 7 years ago, and it was deal at that time. .



    Everyone from the banker, our agent, closing attorney, inspector and

    appraiser said we received a great deal on the house. The inspector

    thought it was going to be falling in on itself when before he started

    his inspection. I have viewed TONS of foreclosures over at least a 13

    year span and never thought I would come across such a deal. Due to the

    lower cost of our new home, we may keep the other house and rent it out

    for rental income making our deal even sweeter! You will never know

    until you look because it just might be worth your time.





    April





    <<<I sent the lawyer an e-mail this morning describing my situation and

    what I am interested in. I am asking him if it is really true that I

    can get a house for $100K or under. I don't know how to go about

    buying foreclosures, I have no idea how it works.



    I am hoping that it's really true that some houses can go that low.

    But I don't understand why. Some foreclosures are very high, and

    some are low.



    May I send you a PM? I need to learn more about foreclosures.



    Lisa<<<










  6. #6
    Rustey Meyer
    Guest

    Default FINDING Foreclosures

    Would you mind sharing that lawyer's website, Lisa? We are retired & looking

    into moving so considering all areas that are lower in cost of living than

    where we are now.



    I've searched for hours trying to find lawyers' sites who may sell

    Foreclosed Properties & most sites request credit cards. Can't find any

    truly FREE sites.

    Thanks,

    ~ Rustey



    -----Original Message-----

    From: lisa196622193

    Sent: Saturday, August 16, 2008 8:46 AM

    Subject: finding foreclosures

    >

    > ....Got one guy's business card and he said that the foreclosures were

    listed on his

    > website. He is a real estate lawyer/trustee, not a realtor.








  7. #7
    Rustey Meyer
    Guest

    Default Finding Foreclosures

    So, how do we find the FREE lists of foreclosures? I have Googled

    hours at a time, searching lawyers' websites, and the only lists that come

    up

    are ones that want a credit card should you use the site after their "free"

    sample has run out.



    Surely there are particular people/lawyers/agents who get these

    Properties to sell? Help is appreciated---anyone ?

    ~ Rustey



    -----Original Message-----

    From: Ann Garner

    Sent: Sunday, August 17, 2008 12:11 PM

    Subject: finding foreclosures

    >



    > The reason they can go so low is that they are being put on the

    > market to try to get what is left of the mortgage. In other words,

    > the bank just wants what is still owed on the house.

    > Ann in Arkansas

    >

    >








  8. #8
    Ann Garner
    Guest

    Default Finding Foreclosures

    I have no idea of how to find the free lists of foreclosures. I was

    answering on how the banks could sell the houses for such a low price.

    Ann in Arkansas



    At 06:29 PM 8/17/2008, you wrote:

    >So, how do we find the FREE lists of foreclosures?

    >

    >-----Original Message-----

    >From: Ann Garner

    >Sent: Sunday, August 17, 2008 12:11 PM

    >Subject: finding foreclosures

    > >

    >

    > > The reason they can go so low is that they are being put on the

    > > market to try to get what is left of the mortgage. In other words,

    > > the bank just wants what is still owed on the house.

    > > Ann in Arkansas

    > >










 

 
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