Tips for Getting Started with Free Foreclosure Listings

April 9, 2010 - PRLog -- The mortgage companies have an ever increasing number of homes that have been foreclosed upon and they are completely willing to make a fast deal and clean up their portfolio. Free foreclosure listings can help a home buyer literally save thousands and thousands of dollars, but only if a person is aware of the following key points.

Aurora Lillo Editor of the "Best Free Foreclosure Listings" website -- http://www.BestFreeForeclosureListings.com -- pointed out;


“…Many of the free foreclosure listings are constantly being updated because the homes available are always changing. A house that may be listed today may be gone tomorrow, so time is of the essence and it is often necessary for a prospective buyer to act quickly. Most people have learned the hard way that there may not be a suitable time frame for finding financing and it is a good idea to be prepared. At the bare minimum, a person should have a pre-approval letter from their mortgage company before making any offers…”

Everybody is excited about the chance to purchase a home for a fraction of what it is worth, so free information on foreclosures is often read by lots of competitors. Understanding the fact that there will be other people interested is important to the success of any consumer looking for a great deal.

The majority of the free listings of foreclosed homes will have address information and maybe a couple pictures of the exterior of the home, but a prospective buyer must be aware of the surroundings and neighborhood as well. Real estate is all about location, and while necessary repairs can be made to a home, a neighborhood can be very difficult to remodel. Simply driving by the listed home should give a possible buyer clues as to whether the neighborhood is safe, close to schools, and in an area that is improving or declining.

“…Due diligence must be completed on every home found in the free foreclosure listings prior to making an offer, but the good news is that most counties have all of the real estate data readily available on their website. It is necessary to ensure that the home will have a clear title and be free of any tax liens…” added A. Lillo.

Using free foreclosure listings can be very profitable for real estate investors, or they can save a future homeowner thousands of dollars. Getting started is actually quite simple and it's exciting to know that it's possible to purchase a home at a fraction of what it's worth.

Further information and resources to get free home foreclosure listings by visiting http://www.BestFreeForeclosureListings.com