In today's real estate market, it's fairly easy to find Edison foreclosures, but what about finding good New Jersey foreclosures in a steady market? Whether the New Jersey market is strong or soft, here are a few tips on finding foreclosed houses:
1. Real Estate Signs
First and foremost, drive through your neighborhood and surrounding areas. Signs that say "Foreclosure," "Bank-Owned" or "Bank Repo" let you know they're Edison foreclosures. But your best bet, if you want to get a jump on other buyers and get the best price and terms, is to work with a professional real estate agent.
2. Government Agencies
Depending on the agency, you may have to have the services of a real estate agent to make a purchase offer. The requirements are posted at each site, along with more information. Some of these government agencies include Housing Urban Development (HUD), Fannie Mae, the Department of the Treasury (homes seized by the IRS) and the Small Business Association (SBA).
3. Bank Websites
Banks are an excellent place to get listings for Edison foreclosures, and several banks have those lists online. Some of the national mortgage lenders with online listings include Countrywide, Bank of America, Chase Mortgage and U.S. Bank.
4. Auction Houses
Sometimes an auction house will sell as many as one hundred homes in a day. Although they often get higher prices because of bidder frenzy, you can find some decent deals in their inventory if you bid carefully. These auction houses include J.P. King, Williams and Williams, Bid4Assets, United Country Auction Services and Real Estate Disposition Corporation.
5. Web Foreclosure Companies
Foreclosure companies on the internet charge a fee for a list of foreclosed properties. They need to charge because it does take time and a lot of work to find and build accurate lists. Examples of internet foreclosure companies are Foreclosure.com and Realty Trac.
Comments(1)