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Old 09-11-2008, 08:38 AM
 
Location: Bergen co.
563 posts, read 1,286,946 times
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Anybody knows where can I get lists of foreclosures? I called HSBC today, the rep said they don't have such listings.
Are there thrustworthy websites I could check?
thanks
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Old 09-11-2008, 08:42 AM
 
Location: High Bridge
2,736 posts, read 9,672,910 times
Reputation: 673
Go to each bank's web site, go to their search bar, and search for "REO", "OREO", or "Real Estate Owned". They don't generally call them foreclosures, but search this way and you'll see results. BofA, Citi, etc., all have REO pages.
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Old 09-11-2008, 09:01 AM
 
Location: Stewartsville, NJ
7,577 posts, read 22,612,425 times
Reputation: 1260
Quote:
Originally Posted by 86Sebring View Post
Anybody knows where can I get lists of foreclosures? I called HSBC today, the rep said they don't have such listings.
Are there thrustworthy websites I could check?
thanks
forsalebyowner.com does list them plus they also have a separate website for just foreclosure. Theirs a fee to join if you want to get specific details about the house but if you are just browsing... that's free.
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Old 09-11-2008, 09:23 AM
 
526 posts, read 1,392,066 times
Reputation: 74
Be aware, buying a foreclosure is a much more involved process than a normal home purchase. Just like with short sales, they are really not for the average home buyer, as they typically need more work done to them, and depending on how they sell the home, you may not even have the chance to do a home inspection.

Also many times you can find better deals (when you consider cost, repairs, location) listed in the MLS as regular sales.

I have purchased homes as investments at foreclosure auctions as well as through the MLS, and have always come away feeling like I could have done better just buying through the MLS. Don't get me wrong, every one of the Foreclosures I have purchased has worked out and been profitable, but not as good as the homes purchased the normal way.

Best of Luck,

James Boyer
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Old 09-11-2008, 09:43 AM
 
Location: High Bridge
2,736 posts, read 9,672,910 times
Reputation: 673
Quote:
Originally Posted by JamesBoyer View Post
you may not even have the chance to do a home inspection.
Read: Don't buy it. If you can't do a home inspection, it isn't worth the risk.
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Old 09-11-2008, 12:36 PM
 
Location: Cranford NJ
1,049 posts, read 4,021,588 times
Reputation: 405
You may have better success working with short sales, there are so many on the MLS, and if negotiated properly, won't take too long to get accepted. Why wait till they foreclose?
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