Foreclosure Listings
Buying and selling real estate is an interesting and highly profitable business venture to be in if you play your cards the right way. You do not even have to be full time on the job as most successful real estate agents do it only part time or as a money-making hobby.
There are real estate agents who represent real estate developers, those who build properties from the ground up but selling brand new properties is not as profitable as selling seized or foreclosed properties. The profit margins for selling foreclosed properties are wider as real estate agents of foreclosed properties buy these properties at their minimum values, and most often, far below their true market value.
These real estate agents depend on foreclosure lists that banks, government agencies, and some web-based sources provide. These foreclosure lists contain detailed information, such as location, complete address, status of the building or property, and foreclosed value. Banks and government offices or agencies post their foreclosure lists for free. This is because they prefer to dispose of these non-performing assets as fast as possible to get the cash to invest elsewhere and it also means that they will not have to worry about paying real estate taxes and other fees. Web-based sources, however, require membership fees before they allow you access to their databases as this is how they earn from their foreclosure lists services.
But if you want to get a better buy, ask instead for the pre foreclosure lists. Properties listed there are valued at a much lower price than those listed at the foreclosure lists. This is because those at the foreclosure lists have already undergone a public auction, and therefore their values have risen a bit. The public foreclosure auction takes place ninety days after the owner receives a notice of foreclosure for his property.