The 6 Best Foreclosure Listing Services
What is the Best Way to Find Foreclosure Listings?
Generally speaking, it should be easy to find properties that are in foreclosure, pre-foreclosure, are bank-owned (REO) or maybe even available for short sale. Why? According to the Mortgage Bankers Association, 1 out of every 200 homes will eventually be foreclosed on with 250,000 families entering into foreclosure every 3 months.
Although the total number of homes in foreclosure now is still much lower than the mortgage crisis over a decade ago, there are still thousands of homeowners that find themselves unable to make their mortgage payments due to unemployment, divorce, or other reasons. Eventually, the lender forecloses on their home.
Wednesday, May 18th
2022 Foreclosure Listing Service Reviews
Auction
Auction is the only Foreclosure Listings site in our review that is completely free to use - forever, not just during a free trial period. It is also one of the only services that connects you directly with property listings for purchase, in addition to information on homes that will be sold at county auctions and other locations. The site is easy to use, and you'll get plenty of information to help you understand the process of bidding on and purchasing properties in foreclosure. Auction should be your first stop when choosing a Foreclosure Listings service to use.
Realty Trac
RealtyTrac has been in business for more than 20 years, and the company has a solid reputation as a provider of Foreclosure Listings and other real estate properties. A 7-day free trial lets you take the platform for a spin, where you'll be impressed by the level of detail the service provides on each of its properties. Some of the listings can be found on other sites that don't charge for membership, but overall RealtyTrac is a good choice if you're considering Foreclosure Listings.
Foreclosure
Foreclosure has some nice perks, like a free one-week trial and listings that update daily. This service also has a strong track record with the BBB. But, with some customers experiencing issues with billing and fewer resources to guide people through the process of purchasing foreclosed properties, Foreclosure ranks in the middle of the pack.
HUD Foreclosed
HUD Foreclosed is the only Foreclosure Listings service in our review that doesn't offer any kind of free trial. While they do let you use their service for 21 days for just $1, their more competitively-priced membership plans are only available if you don't take the trial plan first. That complicated pricing, along with complaints from users describing outdated property listings and billing issues, make HUD Foreclosed one of the lower-ranked Foreclosure Listings options in our review.
Realty Store
Realty Store has a good reputation with the BBB, but this Foreclosure Listings service leaves a lot to be desired. Some of the content on their main page is more than 5 years old, and this company doesn't offer a free trial to let you see for yourself if their actual listings are more up-to-date than that. You'll have a better experience with another source of Foreclosure Listings.
Foreclosure Listings
Foreclosure Listings comes up short when compared with other services in our review. Between typos and broken links on the site and Terms and Conditions that say that the company will limit your foreclosure searches without telling you how many you can actually use, this company doesn't inspire confidence in its ability to help you find the properties you're looking for.
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At the same time, this can be a huge opportunity for people looking to start or expand their investment portfolio by getting properties well below market cost, or to buy a home for themselves at a significant discount. Plus, the original homeowner may be able to avoid bankruptcy or other negative financial consequences through your purchase of their home, even at a reduced cost.
It's important to realize that many homes purchased as a foreclosure are sold as-is, so budgeting for things like repairs or replacing appliances is key. Another factor to keep in mind is that it may take longer to close on a foreclosed property than in a traditional home sale. If the property is bank owned, the bank may not be as motivated to cut a quick deal or close quickly. And, there can also be a legal component to getting the current residents to vacate the property before you can take occupancy.
Once you're ready to find a foreclosed property, where should you look? There are several services that provide Foreclosure Listings, doing all the legwork of searching databases and other sources of information to give you the details on the properties in your target area.
When deciding which Foreclosure Listing provider to use, keep these criteria in mind:
- Cost. While some Foreclosure Listings are provided free of charge, this may only be for a short trial period before you're charged a monthly subscription fee.
- Data Quality. Choose a service that updates its Foreclosure Listings frequently. It'll do you no good to get listings of properties that are no longer on the market. Also consider how much information you get in a listing: most services include the number of beds/baths and square footage at a bare minimum, while the best services include detailed information about the neighborhood, previous sales of the home, etc.
- Reputation. What do others say about using the Foreclosure Listings they've found on the site? Is the service rated by the Better Business Bureau?
- Ease of Use. Can you easily find what you want on the site and in each of the Foreclosure Listings? Does the site make it simple to get through the steps of buying and/or bidding on a foreclosed property?
TopConsumerReviews.com has reviewed and ranked the best Foreclosure Listings available today. We hope this information helps you in your real estate goals, whether you're buying a home for yourself or adding to your investment portfolio!
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