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Debt Relief – Insolvency – Bankruptcy Information » Foreclosure Help » How can i get access to homes on foreclosure?

How can i get access to homes on foreclosure?

I am looking to buy a house in brooklyn. I am hoping to find a house in a good neighborhood which I know can be expensive. I heard there are cheap homes on foreclosure but when I search for them on the websites they r hidden and ask for my money. That’s makes me suspicious. How can I get real foreclosures home information?

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3 Responses to "How can i get access to homes on foreclosure?"

  1. Casey Y says:
    You aren’t going to simply find a list of foreclosed houses anywhere online. Those services compile lists from public notices in newspapers and public records; those are for-profit businesses, that’s why they want to charge you.

    You can contact local community banks, that’s one route to go. You can also research the public notices to see the bank owned properties.

    All things considered, in a good neighborhood in Brooklyn, you aren’t going to be able to find a bargain. The good neighborhoods in Brooklyn have seen increasing housing costs, which brings in investors. Prices will reflect the actual market rates on these properties and not the traditionally lower foreclosure rates.

  2. tom says:
    Here is one way to find notices of upcoming foreclosure auctions

    Look in your local newspaper in the real estate section for advertizement for upcoming public auctions of residential real estate.

    Not the legal notices placed by attorneys but advertizement placed by auctioneers.

    They will usually show one or perhaps a few upcoming auctions.

    They usually also show the auctioneers web address.

    Go the the auctioneers web site you should be able to search their site by city or town for the area’s you are interested in.

    Repeat the process for other autioneers web sites and you should see listing of many more possible options for you to consider.

    Be very careful if you actully bid at a foreclosure auction.

    The contract you will be asked to sign doesn’t have the usual escape clauses that a convention sale has for getting your deposit back if you find somethink you don’t like during an inspection or if you fail to secure financing. If you are the successful bidder and you decide not to proceed with the sale you will likely loose your deposit.

    It may be the way to get the best price but there are greater risks.

    All the best in your search

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