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Thursday, March 27th
Foreclosure is, as you'd guess by the name, laser-focused on providing access to distressed properties. In their database of nearly 2 million listings, you'll find foreclosures and pre-foreclosures, bankruptcies, bank liens, and other property types. This database is updated seven days a week, round-the-clock, so that you have the most current information available.
Great tools for investors and homeowners alike
You can absolutely use Foreclosure to find a home you plan on occupying, or check out the listings to discover properties that might make a great investment. The tools on this website can be helpful for either type of purchase, with a thorough Learning Center that offers details on foreclosure laws by state, videos to walk you through the ins-and-outs of buying foreclosures, even calculators and current mortgage rates.
Best inventory among paid foreclosure listing services
Foreclosure won hands down when it comes to inventory, compared with the rival listing platforms we researched. In our first target area, Nashville, there were over 650 properties to consider. In our second target area, Phoenix, that number grew to a whopping 9,800+. It's a good idea to use the filters for price, beds/baths, listing type, and property type, so that you're not spending time looking at foreclosure listings that aren't a good match for the kind of house you have in mind.
Easy-peasy previews
Before you even click on a listing, you'll be able to see a photo, the street name (but not the house number), estimated market value and monthly rent. Some home previews also show the number of beds/baths and the square footage. You'll also be able to see if it's an auction, a single-family home or a condo (or other property type).
7-day free trial, $39.80/month going forward
Want to see all of the specifics? You'll need a Foreclosure account, and it's free to try for seven days. If you want to keep using this listing platform, though, you'll pay $39.80/month. You'll automatically be subscribed (and charged) if you don't cancel during that first week, but it's not hard to get that done if needed. You can also cancel at any other time; there's no long-term commitment here.
Make sure to follow all the links
Once you've signed up for the trial or signed up as a member, you'll get the full panorama of available info for each foreclosure listing. If it's a traditional foreclosure, you'll know when it's being auctioned off or who to contact (the listing agent) if you have questions. Foreclosure also provides links to the county information; you should take the extra step of looking up the property there, especially if you're not already familiar with real estate laws in that area. Why? In some states, there's a redemption period that lets the original owner buy back the property - and that's bad news if you've purchased a foreclosure during that timeframe and already put money into the home.
Positive reputation
Although it might take you a minute to find Foreclosure's listing with the Better Business Bureau - because it's under the name of the parent company, Blusea Holdings, LLC - it's a solid "A” with just two complaints filed there in the last three years. Any complaints we found for Foreclosure (on the BBB or elsewhere) usually came from people who didn't realize they were being charged for the membership after they signed up for a trial, but that's not anything that Foreclosure is hiding. Otherwise, most people who use Foreclosure to find listings are happy with the value that the platform provides.
#1 for foreclosure listings
As the most focused platform on our list, Foreclosure gets our highest recommendation. Out of all of the paid foreclosure listing services we evaluated, this one provides the highest value: the most properties for the lowest monthly subscription cost. And, because it's so tightly centered on foreclosures and other distressed properties, you don't have to weed out listings that are traditional home sales while you browse. Foreclosure continues to get 5 stars from us.
Finding the perfect foreclosure property can feel like a treasure hunt - filled with potential (and lucrative) rewards but requiring careful navigation. Whether you're an aspiring investor looking to score a bargain or a homebuyer hoping to land your dream home at a steep discount, foreclosure listings can be your gateway to opportunity.
Foreclosure rates have remained relatively low in recent years, with starts near historic lows since the pandemic. According to the Mortgage Bankers Association, mortgage delinquencies have seen minor fluctuations in the last few years but have still remained far below the levels of the 2008 housing crisis. However, economic factors such as the rising costs of insurance and property taxes could potentially impact the number of available foreclosure properties in the future.
So, why consider buying a property in foreclosure? Foreclosed and pre-foreclosure homes, along with bank-owned (REO) and short-sale properties, are often sold below market value, giving you the chance to stretch your budget further. And, when you purchase from a distressed seller, you might not only save money but also help a struggling homeowner avoid deeper financial trouble, such as bankruptcy.
However, it's important to approach these purchases with eyes wide open. Many foreclosed homes are sold as-is, meaning repairs and updates are likely part of the equation. Be prepared to take on potential costs like fixing structural issues, replacing appliances, or even addressing legal challenges if the home is still occupied.
Another factor to consider is the timeline. Buying a foreclosure may not follow the typical quick-turnaround schedule of traditional home sales. Bank-owned properties, for example, often involve more red tape, which can extend the closing process. Still, for those willing to plan ahead and be patient, the savings can make the extra effort worthwhile.
When you're ready to dive in, the first step is finding reliable foreclosure listings. These services aggregate and curate the information you need, from auction schedules to detailed property data. With so many options available, how do you choose the right listing platform? Consider these criteria:
To help you achieve your real estate goals, Top Consumer Reviews has done the legwork of evaluating and ranking some of today's most popular foreclosure listing platforms. Using these services effectively can unlock some impressive opportunities, whether you're expanding your real estate portfolio or buying an affordable home for your family. Happy hunting!
Select any 2 Foreclosure Listing Services to compare them head to head