Real Estate- How to find Quality Foreclosures

Finding the best deal on a foreclosure can be a bit challenging. The foreclosure industry has become much more competitive in recent years. With all of the attention from late night commercials and gurus, it is easy to see why so many investors have gotten involved. If you want to find the good foreclosures, you're going to have to dig a little bit. 

Real Estate Brokers

Real estate brokers are some of the best sources you could have for foreclosures. You will need to develop a friendship with a few different brokers if you want to find the best deals on foreclosures. Most of the time, the best foreclosures do not even hit the open market. Real estate agents are notified about them first and they alert their network of investors. In this way, most of the best deals are snatched up before the general public even gets a chance.

Banks

Another place to develop contacts is inside your local banks. Sometimes banks are sitting on a large number of foreclosures in their portfolio. They might be willing to part with some of them for much less than they are worth. Banks sometimes want to clean out their real estate portfolio and cut their losses. 

blog comments powered by Disqus