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By Carrie Reeder
Locating a reputable free list of foreclose homes is challenging. Real estate investors earn the bulk of their income by purchasing homes cheap and selling them for a profit. Thus, foreclosed properties are in high demand. If buying a bank-owned or foreclosed home, you can expect to save 20 to 50%. The problem lies in accessing a list of foreclosed properties. Several websites offer listings, however, a subscription fee is required. While some websites will advertise free listings, there are advantages and disadvantages to these types of listing services.
Free Foreclosed Listings Come with a Price
If searching for a free online listing of foreclosed homes, you will come across several websites offering free information. However, the information provided is usually on a trial basis. The majority of listing services involve a subscription fee before you can search for a home.
Nonetheless, many services are agreeable to a free trial. Of course, before you can take advantage of the free trial, you must provide the listing service with your credit card information. At the conclusion of the free trial, they will conveniently bill your credit card, and will continue to do so until you cancel.
Advantages of Free Foreclosed Listings
Although free foreclosed listings are not easily accessible, once you locate a good list, you have the opportunity to purchase an inexpensive home. The best way to find a free listing is through a realtor website. When banks work with realtors to get properties sold, the real estate agent is given permission to list the homes on their personal or company site. Moreover, some states will compile a free listing of foreclosed homes throughout a region.
Free listings are ideal because you can find homes for as little as $10,000. Furthermore, choosing a home from a free foreclosed listing allows you to shop for a home without leaving your computer. Free foreclosed listings include all pertinent information about the home. For example, property descriptions will point out the home’s square footage, number of bedrooms, bathroom, additional features, sale price, condition, etc.
Negative Aspect of Free Foreclosed Listings
Unfortunately, a large number of free foreclosed listings are a waste of time. Because the information is readily available to anyone, most of the properties are contracted before you receive the list. Real estate investors are always in search of free listings. Hence, they generally have the first pick of cheap properties. Moreover, free listings are not updated on a regular basis. If you are serious about buying a foreclosed home, spending a few bucks a month for an accurate and useful list will provide the best results.
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