List of Bank Foreclosures

If you ever see an ad in your newspaper’s classifieds section that promises a free list of bank foreclosures, just ignore it for now.

Normally, they are simply used as lead generators by local real estate agents. They will call you back and just talk to you about your needs. Of course, they will also help you to understand the complexities of trying to pick up a foreclosure and explain it will just be easier to find a general fixer upper somewhere.

Yes, foreclosures are more and more plentiful these days, but there really isn’t any magic list of foreclosures just sitting around. The best deals are picked up by the savvy investors really quickly, and the better ones that are left over are sometimes picked up by other real estate agents.

The less “good” deals are left over…for you. So hopefully you are starting to see that you ought to forget the myth of the magic list of bank foreclosures that’s sitting around for all to see.

Your best bet is to find out about foreclosures right when they come available. In some cases, those are sold by auction, depending on where you live. And in other areas, there are still auctions, but they’re done directly with the bank, not on a doorstep of a house. Get on the lists of banks in your area as a person interested in bidding on foreclosures.

And if you’re a real go-getter, you can start going after “pre-foreclosures”, which is another more profitable strategy than looking for some imaginary free list of bank foreclosures.