‘Foreclosure Tours’ - What is a ‘Foreclosure Bus Tour’?
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‘Foreclosure tours’ or ‘Foreclosure bus tours’ are sweeping across the nation. ‘Foreclosure tours’ have been featured in news stories on CNN, FOX, MSNBC, and many more. ‘Foreclosure bus tours’ have also hit the pages of places like the Wall Street Journal and internet blogs. You may have seen these stories. ‘Foreclosure tours’ are usually lead by licensed Realtors or loan officers. Typically the goal is to introduce themselves, provide a unique experience to you and hopefully assist you in purchasing a home and rebuilding the communities plagued by foreclosures. To the best of my knowledge, I have not heard any of these ‘foreclosure bus tours’ pressuring any of their attendees rather the opposite. The spirit of most ‘foreclosure tours’ is one of laughter and fun all the while providing education.
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‘Foreclosure bus tours’ can run as short as 3 to 4 hours and we have seen some advertisements for an entire day event (5 to 6 hours). A ‘foreclosure tour’ could have anywhere from 10 to 16 attendees to as many as a large Coach luxury bus. The number of homes you may view can range from 7 to 15. The featured foreclosed home price range can be from 5k to above a million dollars. Some ‘foreclosure tours’ are free of charge while others range in price from $19.00 to $29.00. We have heard of some accounts in CA where they charge $49.00 to each attendee. Each ‘foreclosure bus tour’ like the real estate professionals running them, have a different flare and personality. |
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Often times there is a team of real estate professionals on the ‘foreclosure tour’. These professionals range from Realtors, home inspectors, loan officers, carpenters and more. The goal is to have these professionals on the bus tour so you can ask questions and again, be educated along the way.
The most common feedback that is given by tour attendees is that they found the ‘foreclosure bus tour’ to be enjoyable, educational, a lot of fun and an eye opener.
If you have an questions about attending a foreclosure tour please feel free to contact me directly or post a your questions
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below. If you have held your own foreclosure bus tour please share your experience with us below.
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