How to Find Foreclosed Homes for Sale: There are tons of sites on which you can find foreclosed homes for sale. All bids received in the first 10 days are treated as having been received simultaneously and if no winning bid is received by the 10th day, the bids are reviewed daily for the remainder of the exclusive listing period (up to 20 days) for owner occupant purchasers only.
It isn’t always an easy decision to decide whether a HUD home is a good real estate investment This is especially true if you want to turn it into a rental property, since you have to bring it to a condition where it looks appealing to renters in the area.
One school of thought for finding foreclosure properties is to find them on your own (the drive-by method, courthouse steps, online, newspaper ads, etc.). But a faster way is to use a seasoned realtor, preferably a “listing realtor” who specializes in foreclosures.
Another issue is the television set that sits in everyone’s living room harping about the price of homes based on the number of foreclosures and this constant barrage of negative information makes most people sit on the sidelines waiting for the market to either implode completely or to correct itself.
HUD, prior to listing the home for sale, will always have an FHAÂ appraisal done on the property, which, if you are getting an FHA loan, will prevent you from having to pay for the appraisal, and remove any questions about the home not appraising for the purchase price.