Foreclosure lists - Posted by Paul

Posted by Stacy (AZ) on May 11, 1999 at 13:42:55:

Don’t forget the http:

To get a list of sales offices:

http://www.firstam.com/faf/html/corpdir/html/mires.html

Stacy

Foreclosure lists - Posted by Paul

Posted by Paul on May 10, 1999 at 17:03:33:

Has anyone tried a forecloure listing service on the internet?I’ve seen several,some even claim they can provide pre-foreclosure listings.I would like to hear any successes and horror stories ,or if someone can reccommend one especially one in Florida
Thanks

Re: Foreclosure lists - Posted by Tom

Posted by Tom on May 11, 1999 at 11:34:26:

You can look on the Fannie mae web site for foreclosures. You can choose how you want them listed (state, town, zip code, etc.) And its free! I just bought one off their web site.

Re: Foreclosure lists - Posted by Walt_FL

Posted by Walt_FL on May 11, 1999 at 08:33:23:

Florida covers alot of RE, I am in Pinellas County, I believe there are 67 Counties in FL, Only had 21 in NJ.
Where RU @, Paul?

Walt_FL

Re: Foreclosure lists - Posted by Carmen

Posted by Carmen on May 10, 1999 at 17:26:56:

Not through the net, but there is a service that sent out lists of foreclosures once a month for about $400/year. Usually, by the time the list arrived, it would be obsolete.

Most foreclosed properties are handled through real estate brokers. The best thing would be to find the brokers who deal with specific banks, or who specialize in foreclosures. Or find a realtor to search for all foreclosures as they come onto the MLS. There are several in South Florida - e-mail me for more info. They will usually have the “scoop” sooner and give you a better chance. Also, find a broker who is on the HUD-approved list, as well as VA. From these, you will probably get most of the same info you could get from any service - for free!

As far as pre-foreclosures go, there is a service called ISC which will give you all the lis pendens put on properties. Not cheap - about $100/month - but once you get serious probably worth it - it allows you to do your own CMAs (comparative market analysis) and access all the tax records, too.

Re: Foreclosure lists / dataquick , metroscan .pace, experian , ISC ? - Posted by chris

Posted by chris on May 11, 1999 at 02:11:08:

Who has the best info for the lowest price. I need out of county/state owners , mortgage ballance , comps , perhaps even a way to get the address from the phone # - quickly & easly. You mentioned ISC , Do they have the same info as lets say…dataquick? , and how’s the price compare? Anyone w/prices on any of these services please post 'em along w/any tips. Thanx in advance.

Re: Foreclosure lists - Posted by Steven

Posted by Steven on May 10, 1999 at 18:55:55:

In my town, which has alot of repo’s, I just called
a local RE office and they sent me a list the next
day in the mail and it didn’t cost a penny. Try
making some phone calls to local RE offices and
see if they can send you a list. Remember they get
paid to sell houses. Repo’s or not.

good luck
Steven

Re: Foreclosure lists - Posted by Steven

Posted by Steven on May 10, 1999 at 18:43:31:

In my town, which has alot of repo’s, I just called
a local RE office and they sent me a list the next
day in the mail and it didn’t cost a penny. Try
making some phone calls to local RE offices and
see if they can send you a list. Remember they get
paid to sell houses. Repo’s or not.

good luck
Steven

Re: Foreclosure lists / dataquick , metroscan .pace, experian , ISC ? - Posted by Stacy (AZ)

Posted by Stacy (AZ) on May 11, 1999 at 13:31:18:

I am pasting a reply from Timo, who responded to my post about First American Real Estate Solutions (used to be experian). You can get more info by contacting an office near you. Also, the web address is www.firstam.com. The post is about to get deleted from this forum (it’s the last one), so I thought I’d better just post Timo’s reply here.

Joe Kaiser has an excellent deal going with First American for their on-line, multi-county database that you could take advantage of…if they service your part of the country.

Stacy


Stacy –

I operate a foreclosure listing service and I would buy FARES [Experian] before I would buy my service. The comps are excellent.

The Auto Comp feature is great, but I find myself doing neighborhood comp searches more and more.

You can search type of deed which allows you to get all the REOs. Here in California I search Trustee’s Deeds [the deed lenders take ownership under foreclosure here, I think they are the same in Arizona] more than two years old.

These are properties that

a)the lender doesn’t know he owns – shocking how much this happens.

or b) the lender can’t sell. I have had a lot of luck dealing direct with the lender on these 'cause they are usually not listed.

The 6% the lender saves can become 5% in my pocket.
Get First American, it is the way to go.

Timo

PS I have tried Metroscan and DataQuick and I like this one the best…t

Re: Foreclosure lists - Posted by Arie O.

Posted by Arie O. on May 12, 1999 at 11:09:51:

If only the good deals were this easy to find. Free Realtor lists are not comprehensive nor do they include the true investor deals.
If you want to get the good stuff, you have to get an impartial comprehensive service. I currently am buying 2 properties that never showed on anyones Realtor list and they were only in the MLS as pending sale after they took my offer.
Both are as-is properties that I got because of a personal relationship with the listing Realtors [2 seperate ones].
Take the time to find the Realtors and show them you know how to buy and can make them 6% instead of 3%. [Or their office makes the full commission if the listing lender requires a buyers agent, like fnma. They all have a buddy who does the buyer side…]

Hope I didn’t ramble too much.
Arie O.

No ambiguity - Posted by Timo

Posted by Timo on May 12, 1999 at 11:03:51:

Just read the post Stacy reposted here. FARES [with street maps] would be the first dollars I would spend. The second would be a notice listing service [yes like mine, Daily Default Infoservice, we only cover Northern California].
Each service has its pluses and minuses. But you need first a service to allow you to do “CMAs” or comp properties. I have found FARES the best to do this. I don’t know how anyone can expect to make money if they don’t know the retail on a property before they buy it.
Second, as foreclosed properties dry up – in some areas they have – buyers have find owners before they lose their property or buy it at the “auction”. This is where a list service helps.

Timo