I have been checking out some of the foreclosure websites to find a property. However, they give me limited information on the actual property. Where can I get a more detailed report?
7 thoughts on “I am looking to buy a foreclosure. Where can I get a good report on the property?”
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You aren’t going to find much, as the bank doe not report anything. If you want something solid you need to pay to have the property inspected.
Forclosure sales are the latest scam. Unless you have PERSONAL knowledge of the property, have seen it with your eyes, know the history of the property (owners, title,claims, taxes, locality), do not buy. In today’s real estate market, Deeds are often Misdeeds.
Contact your local Realtors,they may be able to give you the info you want.In my area there are many listed in the newspaper,but buyer beware.
There’s no substitute for actually seeing the property yourself. Any report you get might not be totally honest.
You can either go down to you local city building. They always have lists. You can check on-line on foreclosures websites like realty trac, or epropertyreports.com or try calling the bank directly. They will often provide a list of their own portfolioed foreclosures. Good luck
You can visit your local county office to see information on properties for free, but unless you know that local market well, it will be time consuming to access and make sense of the information.
Your best bet would be to find a LOCAL company that provides foreclosure records to investors (whether you want to buy multiple properties or not) as they often times have the tools and resources that you will need to analyze whether or not you have a good deal or a bad one. A local public records provider will be more knowledgeable of local market conditions, and can often times provide you with more details about the property such as liens, bankruptcies, mortgage information, comps, assessment info., and more. You will still have to do your due diligence on your own to investigate properties outside of what any report will tell you. There is a fee for such foreclosure lists but it is worth it to be able to quickly analyze deals so you can free up your time for marketing and negotiating with homeowners.
I’m an investor in the Chicagoland area so if you are investing in Northern Illinois feel free to contact me for info. or with questions.
Wulverene,
There’s a very good overview of how to get free listing information and reports for sites entering foreclosure at this real estate site:
http://mysite.verizon.net/dsarokin/xa/id4.html
Finding Foreclosure and Pre-Foreclosure Properties
It should give you everything you need.