Foreclosure listings

[Ivanovich]

Quote from vhehn:

lowballing does not work. the bank will always bid up to either fairmarket value or what is owed against the house to protect their interests.

What?

 

[Free Thinker]

Quote from Ivanovich:

What?

if its anything like my state its a waste of time. i have been to many forclosure auctions on the steps of our courthouse. the bank always has an agent there that will always bid up to the amount owed or market value unless its a real unfixable dog that nobody wants.
think about it. the lending company is not going to let a property get stolen for a lowball price if they are owed money. they are not idiots.

 

[Ivanovich]

No no...when lindq and I were talking about lowballing, we were referring to offering less than the asked price for solid, healthy sellers. Not talking about foreclosure anymore.

 

[mattmecham]

Back to the original question. Yes, the so-called lists or web providers of foreclosures are a waste of time. They are just services looking to make a buck with dated or incorrect info. Your best bet to is to follow your local legal notices, build relationships with title companies or local attorneys who conduct the sales and do the leg work. I've bought a bunch of foreclosures, pre-sale, at-the-sale and after. There are a ton of techniques. I recently made $15,000 at a sale without even acquiring the property.