How To Find Public Records of Foreclosed Homes
Finding Foreclosures to Invest In
There are several methods of how to find public records of foreclosed homes, but some of the public record inquiries you’re most likely to consider require a fee. For instance, the companies that foreclosed on a house have foreclosure records, but they are likely to charge a fee to let you see their bookings. But you don’t have to pay money to see foreclosure information. Here is how to find public records of foreclosed homes
1. Contact the County Sheriff
The county sheriff’s office will have its own listings for foreclosures in the area, complete with foreclosed homes, the address and its estimated value. Also, houses with a lien on them will also be listed in the county sheriff’s records. Keep in mind that sheriffs deputies are always present at foreclosures.
2. Contact the County Auditor’s Office
The county auditor values property for taxation. Because foreclosed homes are going to require a different property tax arrangement, the county auditor is likely to keep a ready record of homes in foreclosure.
3. Find the Real Estate Owned
When learning how to find public records of foreclosed home, learn what REO is. “Real estate owned” or REO is the property repossessed by banks and other lending institutions through foreclosure. Some banks handle their own REO homes, while others use a local real estate broker. Talk to a local bank and ask to see this information, and the bank employees can direct you to the proper records keepers.
4. Talk to the Feds
The IRS also lists foreclosed houses and other properties. These are taken when a person is in debt to the Internal Revenue Service for back taxes. When the IRS wants its money back, properties get foreclosed and resold.
5. Talk To Housing and Urban Development
In other words, talk to other Feds. Housing and Urban Development or HUD is a government-sponsored program to help people without great credit own their own homes. Inevitably, a certain percentage of these homes go into foreclosure. When they do, H.U.D. ends up listing the homes. Contact a local real estate agent to have them show you these homes, so you can evaluate their real value.
Warning About Investing in Foreclosed Houses
You want to learn the local property laws before you start to invest in foreclosures. Certain local laws allow people who have had their homes foreclosed on recover their homes for up to a year. The last thing you want to do is invest money in a land deal or house and find out that the original owners have repossessed the home for their own purposes.
Also, remember to insist on an inspection of the home before you put your money on the line. Because homes in foreclosure expect the buyer to beware of what they are getting, you have every right to give the property you’re buying a full inspection by a qualified individual. If a home owner, bank or real estate broker has a problem with an inspection, they’re likely hiding something and you don’t want to buy the house.
Review The Neighborhood
When buying homes of any sort, look at the local neighborhood. If new roads and signs are being put in, that’s a sign of growth. If there are a lot of foreclosures or business closings, that’s a sign the economy is depressed in that area and maybe you aren’t making a good investment. There are a lot of factors which go into buying a foreclosed home, besides simply learning how to find public records of foreclosed homes.
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This entry was posted on Tuesday, November 24th, 2009 at 2:39 am and is filed under Real Estate Records. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
[...] How To Find Public Records of Foreclosed Homes How To Find an Old Friend How To Find an Address For Free How To Search Census Records Online [...]
Interesting thoughts on American foreclosure. We’re lucky it’s not that bad over here in the UK. Our shortage of houses supply has always kept things together a bit!
[...] How to Find Public Records of Foreclosed Homes – Specific public record search tips for finding foreclosed homes to look at during the foreclosure crisis, including discussions of the role the county sheriff, the county auditor, banks, lending institutions, the Housing and Urban Development Department, and the IRS play in home foreclosures. Also includes a warning about buying these homes, and a discussion of what “REO” means. [...]