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Free foreclosure listings are available from numerous sources. Banks and real estate offices give them away to any one who asks. County real estate departments offer free computer searches to the public. These lists however contain only minimal information, and create a starting point for anyone seriously considering buying a home.
Private companies and research firms also provide free foreclosure listings. The best private list services research over a million properties nationwide. Their lists include homes and unimproved lots. The list may contain mineral rights, oil producing properties and gas producing properties. Frequently, lists also include properties sold in previous auctions now held by lenders as REO. A great list will include upcoming government agencies auctions.
The best private company lists are available free of charge. These companies allow internet access, up to a week, to become familiar with the types and quality of services provided. During the trial offer, you should gain unrestricted to all products and services. If you decide to use a service regularly, the monthly fee is easily affordable.
To be prepared, all bidders should perform due diligence. Auction properties sell without a general warranty. Before bidding, review all liens, loan balances, outstanding taxes, pending litigation, clouds on title, and all pertinent information that may complicate ownership.
The best private list companies perform extensive research. All basic information and record searches should appear with each listed property. A few companies also provide photographs to exclude neglected homes, and identify potential complications.