Bank Foreclosure Homes - Frequently Asked Questions
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This list is free, right?
Bank-Foreclosure-Homes.com is a free service that provides potential home buyers like you with up to date information on what homes are available in your area. These lists are provided by a local real estate professional that knows the local market and understands the trends in the area. They provide these lists to you for free and with no future obligation.
What is a real estate owned property or bank foreclosure?
Technically, they are the same thing. These are properties that have been acquired by a lending institution or a bank because the owners of the property did not keep up with the payments. Lenders take back the properties that were collateral on the loans when the loan is in default. Owners default on loan payments for a variety of reasons.
Are there foreclosures available in my area?
Chances are the answer to that is, "Yes". But, depending on the lender that has the home, the market conditions, the conditions of the home, and a host of other factors, the home may not be advertised. Filling out the form on this site will put you in contact with a local real estate professional that will help you determine if a foreclosure is right for you and how and where to find them quickly and easily.
How can I get a list of foreclosures?
Filling out the form on this site will put you in contact with a local real estate professional that will help you determine if a foreclosure is right for you and how and where to find them quickly and easily. They can supply a list of property that meets your needs and answer any questions you may have about either those properties or other factors you may need along the way.
Do I have to work with a real estate professional?
The short answer to this question is, "No". But, buying real estate is a tricky process and can be quite complicated. Whether it's a foreclosure, pre-foreclosure, auction, REO or traditional transaction, a good amount of experience is required to ensure that it is done right. You are not required to hire or work with an agent or broker to buy foreclosure properties. However, we don't recommend that you go at it alone. It's a lot of work, which can become overwhelming and confusing if you do not have time or experience at your disposal. In some cases, dealing with lenders directly is a painful process that should only be handled by someone with a wealth of negotiation experience and knowledge of local real estate law. A savvy local real estate professional can become a very important member of your team, finding, negotiating and closing the best deals possible with your best interests in mind.
What should I be aware of in looking at foreclosures?
You must remember that any foreclosure is being sold in "as is" condition. That means that neither the owner, the lending institution, the real estate professional either party in the sale uses, etc, is required to do any repairs, maintenance, or upkeep on the property. You should automatically be aware that the property will require a financial infusion to bring it up to livable condition, whether that be you yourself doing the work or a professional contractor hired at your expense. It is incredibly important for you to have arranged financing prior to the attempt to purchase a foreclosure. This gives you bargaining power and a position of financial strength in a competitive market.
Why do I have to give my name and phone number?
We will only provide that information to one local real estate professional that will contact you directly and schedule a time to speak with you about the potential purchase of property. You will not be spammed.
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Bank-Foreclosure-Homes.com is completely customizable and is the most accurate way to search your local market for foreclosures and bank-owned homes!! Bank-Foreclosure-Homes.com will connect you with a local real estate professional that specializes in the area you want to buy your home. These professionals can provide you with a completely customized list of bank-owned homes based on the criteria that you set forth. Whether you are a new home buyer, first time buyer, or a real estate investor, Bank-Foreclosure-Homes.com is completely FREE! There is NEVER any fee and no obligation to buy!
What People Are Saying About Bank Foreclosure Homes
Bank-Foreclosure-Homes.com was the only foreclosure search website that really did help me! Your real estate agent got back to me and followed up with an email list that was loaded with information. Thank you very much!! I would recommend this site to my friends and anyone looking for foreclosures!
- N. Wright
Your local real estate agent, Barry (last name withheld), has been extremely helpful. He routinely sends me updated lists of properties that have just hit the market that I am interested in buying based on the criteria I set up when I signed up on Bank-Foreclosure-Homes.com. I was on your website 4 weeks ago now, and Barry has sent me an updates list of homes every week since! I am looking forward to buying a home with Barry and thank you so much for your help!
- A. Hui
My real estate agent followed up with my request on Bank-Foreclosure-Homes.com right away! She is doing everything she can to find me exactly what I want. For all of those thinking about using this website, I have found it to be extremely helpful! It connected me with someone right in my area who is not only knowledgeable about the homes that are on the market that are ready for me to purchase, but someone that is more than willing to answer my questions and help me find just the right home. She has been more than willing to provide me with a full list of all of the properties available and has gone out of her way to help find properties I never would have found on my own!
- M. Shoemaker
Need Assistance in Completing Your Request?
Please call 1-800-778-1455 to speak with one of our customer service representatives.
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