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Yes, free foreclosure search done here for 7-Days. Get your free pass to search for foreclosures for a whole week,go ahead and give it a test drive! No pressure, no contracts, no fee for seven days, and you are not obligated to stick around. Cancellation is simple as you can change your mind at any time. Get moving already! Foreclosures don’t sit around and wait. They sell really fast. Go now to RealtyTrac.com. They can help you find discount houses,depressed properties,and foreclosed properties. With virtually every Bank, Government and Institutional property you’ll find your next home without having to travel.
Visit RealtyTrac.com for all your real estate needs as well as free information on homes for sale,foreclosures,and real estate listings in your local area. Also, take advantage of their kind offer,free foreclosure search done here for 7-Days.They also cater to the general public by making available free advice to home buyers and home sellers who are in the process of relocating or simply moving.
RealtyTrac.com is a business that caters to buyers and sellers making available to them all types of real estate services. Their huge database is filled with listings of homes for sale, relevant information on buying and selling homes as well as selling condos.
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By Jim Saccacio, RealtyTrac Chief Executive Officer
These guidelines for purchasing real estate at discount prices will help you make an informed decision when buying the house of your dreams,distressed properties or the house of your dreams. So,if you have the distinct feeling that the high cost of real estate will prevent you from ever buying real estate then its time to set your sight on foreclosure investing. This is a huge part of the Real Estate market with many investing opportunities available.
Serious minded people willing to do some research on the foreclosure market will find that it is hot market and also a great source for finding many real estate investing opportunities. According to the Experts, foreclosure properties continue to be on an upward trend. This is a perfect time to jump in and take advantage of this previously hidden market. Don’t be surprised if you find yourself purchasing foreclosure properties at twenty to thirty percent below market value. There are even some properties which are marked down by half of it’s market value or more!This is a buyers market with great bargains to be had. Just do some research and reap You just have to know where to look.
Web-based services such as RealtyTrac give consumers access to foreclosure and pre-foreclosure information that was previously available only to professional real estate brokers and investors. Today, home buyers can use these services to identify and research potential home purchases, as well as to find the tools and professional resources they need to help them close the deal. RealtyTrac, which provides all
the foreclosure data for both MSN House and Home and Yahoo! Real Estate, has already compiled a list of over 550,000 foreclosure properties across the country.
The keys to a successful foreclosure property purchase are diligence and patience, along with taking an educated approach to investing in this market. RealtyTrac CEO Jim Saccacio offers five tips to help you close a deal on a foreclosure property:
1. Learn about the different types of properties and the foreclosure process.
Not all foreclosures are the same! You need to educate yourself on the difference between the three basic types of properties, including notice-of-default (NOD), notice of trustee sale (NTS), and real-estate-owned REO, as well as the positive and negative aspects of buying at each stage of the foreclosure cycle.
As a rule of thumb, the best savings can be made at the pre-foreclosure stage, where home owners can avoid a foreclosure and lenders can save the time and cost involved in going through the process. Another critical point in the process is immediately prior to the auction date, when all parties might be most open to a last-minute solution.
2. Secure financing early
It’s important for a buyer to be pre-qualified before engaging in discussions with a seller. This ensures that the buyer is in a financial position to purchase the property, and is in the strongest possible position to negotiate.
3. Engage a real estate agent as a buyer’s representative;
There’s a distinct difference between a buyer’s and a seller’s representative. Buyer’s representatives have the home buyer’s interests at heart, and are charged with finding the right property and negotiating the best price for their clients. Picking the right real estate agent will make your life much easier. Ideally, select an agent who specializes in the foreclosures market and has specific experience in REO properties.
4. Do your homework
Purchasing foreclosure properties is somewhat more risky than buying traditional real estate properties. But, with that risk comes reward in the form of much higher potential savings. With the right examination and due diligence, buyers can significantly reduce the risks. As with any purchase, timing is everything! But, it makes sense to give any property under consideration a thorough examination, including determining its condition and value, finding out the amount in default and the remaining loan balance, and running a legal investing report to make sure the property is free of any financial liabilities. Of course, it never hurts to foster a positive relationship with the seller!
5. Make a realistic offer
If you want to be taken seriously as a buyer, you must be realistic when preparing an offer. Lenders aren’t likely to give properties away, particularly in a real estate market where prices continue to rise. Additionally, homeowners in financial distress may be difficult to deal with, particularly early in the foreclosure process. An educated buyer is one who knows how much is owed on the property and what its market value is can usually come up with a realistic offer; one that offers significant savings, while meeting the requirements of the lender.