you can think of. Not all of the groups will still be active, but there are almost always a couple that have a strong following.GettyListings where the owners are behind on their mortgage payments can sometimes be a way to buy a property under market rate. While many of these homes have been neglected and need work to make them livable, there are almost always a few homes in every community that are in great condition.
The sites Auction.com and Realtytrac.com are two that specialize in bank-owned properties and provide some basic data for free about which homes are in the foreclosure process or are going to auction. If you sign up for a paid subscription they provide more information about how much of a lien is outstanding, which can give you an idea of how much the bank will want to recoup from a new buyer.
Zillow.com is a free search site that lists pre-foreclosures in addition to the regular listings they pull from the multiple listing services.In any major urban area there are almost always a dozen or so listings that aren’t being sold through a traditional real estate agent, and sometimes they can be a good deal.
Not all the big sites allow homeowners to upload their own homes for sale, but some of them pull a feed from websites like FSBO.com or Fizber.com, which are dedicated FSBO sites. You can search those sites directly to find potential listings. The main reason why they don’t accept them directly is the potential for liability if an owner creates a listing that is either unsafe or violates the Fair Housing Act.
Of course, the bad listings do slip through the vetting processes from time to time so you have to do even more due diligence when it comes to making sure the house is in good enough condition for you to buy it.... [+]Some of the best deals I’ve ever seen never even make it to market. These are the Coming Soon properties that agents hear about from other agents in their office before the listing goes live.
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