Foreclosure, government property web sites - Posted by Jim Moses

Posted by Sue(NC) on May 28, 1999 at 20:01:32:

I’ve not been happy with HUD for awhile, but I see that they’re changing hands, so it MIGHT improve. And you’re right, most free lists aren’t very good. But I believe that the HUD, VA, etc. listings are a large part of what ForeclosureWorld is selling.

There probably are better sources- I would try to buy lists of the properties that went REO from ‘regular’ courthouse hawks. Many (around here) only care about the sale at the courthouse steps, so you wouldn’t be direct competition with them.

Around here there are about 5 realtors that take the bulk of REO listings. One tack that I have tried with some success is to contact them BEFORE the property is in the MLS, and offer to take it AS IS. Once it goes into the MLS, and once the bank has thrown more $ into fixup, they seem much less likely to accept lowball offers.

Foreclosure, government property web sites - Posted by Jim Moses

Posted by Jim Moses on May 24, 1999 at 18:16:29:

Has anyone had any experience or subscribed to any of the websites that offer foreclosure listings as well as listings of properties from HUD, FDIC, GSA, FNMA, etc?
They usually require an upfront fee of $200+ and monthly access charges of $19.95.

If you have any knowledge or experience with these sites, I would like to hear from you at omni@ameritech.net. Thanks!

Why we like this site and benefits free REO list - Posted by PBoone

Posted by PBoone on May 24, 1999 at 19:09:15:

sharing information freely KNOWING it comes back tenfold.
In response to your question… this may save you money. go to: these addressess and look up the REO’s yourself.
www.hud.gov


www.fanniemae.com
www.ocwen.com
www.fdic.gov
Those are just a few many banks today are listing their reo’s on the internet.
Pat

Re: Why we like this site and benefits free REO list - Posted by Rob FL

Posted by Rob FL on May 24, 1999 at 21:26:14:

www.vaflorida.com (The VA has a national site too.)
www.sbaonline.sba.gov
www.ustreas.gov/auctions/customs/realprop.html
www.ustreas.gov/auctions/irs/

and also

www.fsbo.net

Re: Why we like this site and benefits free REO list - Posted by Sue (NC)

Posted by Sue (NC) on May 24, 1999 at 19:58:03:

I like financenet.gov, as it has links to all of the HUD, VA, FDIC, SBA, etc listings.

Of course that won’t get you the private REOs. For those, try

  1. searching on the internet
  2. calling area realtors & have them look for BANK OWNED properties
  3. finding the REO department of your local banks

Free Lists Suck - Posted by Arie O

Posted by Arie O on May 27, 1999 at 15:46:38:

HUD and VA have been selling for an average 5% over value for years. Source: Kevin Meyers web site.

Ocwen has sold a few for good prices but I know of no one who got one off the site. Usually, they use those offers to shop the bid prices at their so called auctions.

You want good REO search the deed type that the lender uses to take title to the properties, here in CA it is a trustee’s deed. I get a service that sends the new ones to me daily for the county I am in. You can also get them from First American Real Estate Solutions CD or online but they are a lot slower.

Then call those banks, most have a local Realtor they work with. Call the Realtor direct next time you know who she is.

Arie O