Do you know the best foreclosure sites?
Looking online for the best foreclosure sites can be tricky, especially if you are looking to buy a new forever home. There are tons of websites out there that claim to be good or are going to help you, but not all of them are actually legit, and you can end up being scammed.
If foreclosure properties have been of interest to you, even if you are just browsing, it is good to know which sites are good and which ones to steer clear of. Here at The Money Place, we are committed to helping you find the best ways to use your money and even invest if you need to, so we have decided to scour the internet and find the best foreclosure sites that you will be able to trust if you want to buy a new property.
Be it that you want to diversify your portfolio with some extra properties, you are looking to relocate and do not want to invest too much into a new property, or you want to try your hand at flipping a home, these websites are the best places to start looking online for the next property that screams your name!
Have you ever had any experience with foreclosure? Tell us all about it in the comments!
Why should you consider the best foreclosure site?
If you are looking for a new home, your train of thought would not immediately go toward the best foreclosure sites you can access. But given the economic situation in our country and the way things seem to be going, it may be your best bet if you want to find a property at a more reasonable price. The period we are going through now and which seems to end up being the regular for the next period is going to be plagued by uncertainty and turbulence.
And while it does not make sense to invest at such a time, it can be the best time to get ahead if you have the finances. If moving or investing in property has been on your list, then you should definitely be looking at the best foreclosure sites to find some of the best offers you can get in the market today!
From government-owned sites to free ones and even ones that are paid, keep reading to discover the best foreclosure sites that can be trusted!
Government foreclosure sites: USDA-RD/FSA Properties
Some of the best foreclosure sites are actually owned by the government and some of their agencies that deal with properties, and you should definitely check them out depending on what type of properties you are looking for. One of them that you should not be missing out on is hosted by the United States Department of Agriculture, specifically the Farm Service Agency (FSA) and the Rural Development (RD) ones.
On this site, the two agencies list the foreclosure properties that are overseen by them, and they generally include either single-family or multi-family homes, along with ranches and farms. If you have been thinking about moving to the rural side of the US and are not sure you can afford to buy and maintain a huge ranch, you can definitely scour this foreclosure website, as they have all types of properties you can check out.
If you find something you like, you can contact the local USDA-RD office in order to learn more about the property and the process of buying it!
Free foreclosure site: HomePath.com
Despite being considered a free site, it is still one of the best foreclosure sites as it is owned by the Federal National Mortgage Association. This association, also commonly known as Fannie Mae, lists the properties they have up for foreclosure (sometimes even the ones with pre-foreclosure status), and you can easily access them there. There are many listings, even in the thousands, and you can easily access them on this site without having to worry about the possibility of getting scammed.
If you are worried about now knowing what to do after you have found a property you love, we recommend that you get this book and give it a read ahead of time!
Government foreclosure sites: HUD.gov
Going back to the best foreclosure sites owned by the government, you can easily take a look at HUD.gov, and you will be surprised by the number of listings there. Be it that you are looking to get a new forever home or you are looking for a property to invest in, these units may just be the ones that could be the best fit for you. The Federal Housing Administration (FHA) issues loans for properties, and when the foreclosure procedure on those is activated, they will be listed on this site.
You will be able to find anything from one- to four-unit residential listings. All these properties have been acquired by the Department of Housing and Urban Development and put back up for resale to recoup their losses from the unpaid mortgages, so you can easily end up finding a better deal than on normal real estate sites.
Paid foreclosure sites: Foreclosure.com
Sometimes it is better to pay to use a site, even if it is an extra expense to add to the list. However, it all pays off in the end since this is one of the best foreclosure sites, and if you are not sure it will be useful for you, you can always make sure to sign up for the 7-day free trial. That way, you can see if it is truly going to help you before you commit to their pretty hefty fee of $39.80 a month.
Otherwise, what makes this site one of the best foreclosure sites out there is the fact that they will give you access to every piece of information you may need, besides the normal listing details; this includes information like extra details on the properties, the local school districts, tax roll data, and any other files provided by the previous owners, mortgage associations, or banks.
Free foreclosure site: Equator.com
If you are not willing to spend money searching for a property, know that there are still some of the best foreclosure sites around that are free to use. Equator.com is one of them, and you will be able to find foreclosure listings on their page alongside other types of properties. If you are interested in other types of properties in the Hubuzu action process, such as short sales or open-market listings, you will be able to find them here as well.
Otherwise, you can easily browse through foreclosure listings if you just access the buy menu and then go to the foreclosure tab.
Government foreclosure site: IRS Seizures
We are all aware of what can happen if the IRS audits people or when people end up not paying their federal taxes and do not do anything about it: the IRS will end up seizing properties as collateral for unpaid taxes.
The IRS (Internal Revenue Service) has this special website that deals with all the foreclosure properties they have seized and puts them up for sale to be able to recoup the money. This is one of the best foreclosure sites, as you can definitely end up finding gems at lower prices since the agency just wants to cover the unpaid amounts as fast as possible.
If you want to relocate but you are not sure about how expensive it would be, even with looking for a new home on foreclosure sites, make sure you check out which parts of the country are best for smaller budgets! Here are some of them that we recommend to everyone who is close to or already retired!
