Q: Can someone tell where to find a local source or listing of bank foreclosure properties(houses)? Most of the Realty agents and brokers either dont handle these or just have HUD listings. Also Im located in Dallas/Ft.Worth area if it matters
A: There are several companies that, for several hundred dollars a year, will be happy to send you information on foreclosures in any area. Try The Foreclosure Magazine, they may be in Ft Wort/Dallas. (1-800-347-6480). For something a little less costly, try going through the newspapers/real estate magazines, and pick out some realtors/investment groups that have ads out for foreclosures. You must find a friendly realtor who is willing to work with you. In South Florida, we specialize in foreclosures, and although sending lists out is a bit discouraged (we want to get you INTO the office, to qualify you and see how motivated you are), but after we do that, we will give you the information you need (there are a lot of lookers, but only few buyers). I have a web page for foreclosure lists in South Florida. Only caveat is that these sell very fast (30 days is a long time for a foreclosure to be on the market), but for those who call me, I always have several new properties they may be interested in. My best advice is to locate a good real estate agent who works in foreclosures, or begin talking to all your local banks - they will usually send you REO (Real Estate Owned) information too. Many do list with a certain company, and will probably be willing to tell you who their realtor is, so you can call them directly.