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Thursday, May 14, 2009

How to Get Free Foreclosure Lists

By Brock Glazier

One of the biggest limitations in buying a home is having the necessary funds in order to make the purchase of your dream home. If you are short of money or on a limited budget, one way you can get up to 30% off the market value of a home is to look at buying foreclosed properties.

Free foreclosure lists

Free foreclosure lists are records of existing and available foreclosed property. There are many websites that offer information free of cost. Some websites also provide information on pre-foreclosures for sale by owners and bankruptcy homes. Residential property, commercial property, state-wise listings and listings according to their value are available on these websites. Among the rest, websites of banks and their owned foreclosures can be considered among the most inclusive and consistent ones. Free foreclosure lists are available across a minority of websites that are genuinely offering services free of cost. Most websites offer a free trial period and then charge a subscription fee. As a consumer you should first validate the authenticity of the service you choose to use.

Free foreclosure lists - Pros and Cons

Free foreclosure listings are easily accessible on the internet. You need to find a trustworthy listing that is up to date with all information on foreclosed property. Realtors that work for banks to get their foreclosures sold usually have the banks permission to list the homes on their website. This is a good place to begin your search. Choosing a home from a free foreclosure list online will give you the advantage of getting all the relevant information without moving out of your house or office. However, you should be careful not to gather incomplete or wrong information from an infamous source. You should get complete information about the area, location, condition, number of rooms, features and legal history of the home you are interested in. Try and figure out if there are any discrepancies in the price offered from other listings of the same property.

Once you find a dependable website of free foreclosure lists then there is nothing to keep you from getting precise and complete information. Remind yourself to look for foreclosure listings at realtor or bank websites.

These lists are regularly updated. You do not want to waste your time on foreclosure homes that have already been sold, do you? Always remember to research thoroughly before you subscribe to any listing service. Use the free trial service as extensively as possible and educate yourself about foreclosure property before you begin your search. A great deal is bound to come your way if your research on your prospective buy is thorough and flawless. - 23208

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