Bank & Property Foreclosure Auctions

Bank Foreclosure Auctions and Tax Sale Properties offer a way to acquire their homes at incredible prices, sometimes saving as much as 30% to 90% on the price of their home. For first-time buyers or investors looking to profit from buying, renting out or flipping real estate, foreclosures, preforeclosures and tax sales are the answer.

Pre-foreclosures are homes or property that are about to go into foreclosure. This is where some of the best deals can be made, before they are seen by every real estate broker and buyer on the planet. These are generally negotiated directly with the owner, who is eager to avoid the hassles of foreclosure.

Tax lien and tax deed tax sale properties are also very lucrative investments. Tax liens certificates are risk free and simple because you don't actually take ownership of a property or home. Instead you provide a homeowner a loan, at a good interest rate, so they can pay their land taxes. It's risk free because if for any reason that homeowner defaults on any part of the loan you take immediate ownership of the house. This is how low-middle income people retain nice homes/properties with only a $1,000-$5,000 investment. Expired Tax Liens and Tax Deeds also cover defaulted land taxes, but the difference is you retain the home/property immediately. Further details can be found in the article Tax Sale Properties.

What's important here? The most important criteria in selecting one of these sites are
1) Number of Listings; do they have plenty of listings?
2) Current Listings; do they have the most up-to-the-minute information from banks & sellers? 
3) Detailed Contact, Property and Area Information; do these sites give you the right information to compare properties and make informed profitable decisions?

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Reviewed: RealtyTrac       Rating: 10 of 10                        BONUSES

RealtyTrac is considered to be the gateway into the property foreclosure auctions industry. In fact they provide most of the foreclosure statistics to the media (such as CNBC and CNN). It's not just Realty Trac's 1.9 million plus pre-foreclosure, foreclosures, tax sale properties (tax liens and tax deeds described above), FSBO, and Resale MLS that make it appealing. It's also their ability to focus on providing appropropriate property data that allows you to understand the current and potential value of a property, as well as point out any possible red flags. This site is so thorough with relevent foreclosure information many investors buy properties based on this unbiased information. RealtyTrac also provides complete 'buying foreclosures' training/mentoring with daily foreclosure email alerts, so you're aware of the best deals first!

Listings - With a large property listing (<- click to see their listings) of 1.9 million (1.5 million foreclosures) combined with it's depth of relevent, easy access information, make it America's most visited property foreclosure auctions site. An interactive map allows bird's eye property viewing, then drill down for detailed pictures. To see photos of sampled listings (1 house for $1,000 in NE, and 9 under $11,000) click NorthWest, NorthEast, Central, SouthWest, SouthEast.
This site is so well respected it's one of realtors first choice for listing properties and matching price conscious home buyers. There is also a whole section on how to post your own home for sell.

Detailed Property & Neighborhoood Information such as:

• Interactive map interface; multiple property pictures
• Each properties foreclosure details, lien and loan history, historic price trends, comparable listings and sales
• Know property street value and price direction
• Dynamic searching (eg. find 3 bdrm foreclosures in my ZIP for under $10,000)
• Know neighborhood/county/state price trends over the last year (click here to see)
• Guide to finding hidden gem neighborhoods with low housing prices, ready to appreciate quickly