Online Foreclosure List?
I’ve been reading all the post about how you can find information about NODs at the courthouse, but has anyone used one of the many foreclosure list online? I’m pretty new to REI and I’m about to start bird-dogging for a local investor and wanted to know if these list were any good. The current online data for my area has about 120 foreclosures listed and I would have to pay a monthly fee to get the detailed information like the property specs, address and seller information. Does this seem OK, or am I better off going to the courthouse for this type of information?
****Must Reach Senior Investor status before posting URL's*** is one free site. Many of the rest are pulling information from courthouse records. You might also try your county sheriff's web site to see what is coming up in a sheriff's sale.
Here in Oregon I can go online to our county recorders office which has mega info on everything filed.-- Tax assessors office which has mega info.
It required me e-mailing them and getting a password.
Richard
Why would you want to pay a monthly online fee if you can get the information for free?
Get off your chair, go to the Law Library at the courthouse like once a week and find the ads.
You're going to have to be at the courthouse anyway to do research on the property.
You're gonna have to put in work and put in time. Even us pros have to go down to the courthouse on a regular basis.
Hope This Helps,
Mrs. Meltzer
Almost every metropolitan area has a private courthouse scout service where a company collects and provides all the courthouse info you need. In NC, we spend $75 a month and it saves us 20 hours a week - that's a good investment.
If your area doesnt have a scout service, think about starting one. It's easy, and investors will gladly pay you a reoccring monthly fee for your info.
but even if you get the "foreclosure info" online ...
Doesn't your investor require you to pull the liens against the property so he/she knows if it's a good deal or not?
Mrs. Meltzer
I've gone to my county clerk's office to search for foreclosures. I've dug through the 'Lis Pendens' & 'Default' documents and this month I managed to find 6 that appeared to be home foreclosures.
I got an email from a loan officer aquaintance earlier this week with an excel spreadsheet attachment with August's foreclosures for my county. There are over 800...???
Am I not looking at the right documents at the clerk's office? What am I missing?
thanks,
Terry
Yes, the courthouse scout services are only part of the equation. We have to look up tax records, liens and comps on our own. Still, they do half our work for us.
alubeck is on target...
In one county I track 200+ properties alone. I sort, filter, prioritize, kick out the bad, flag the good, and only pull docs/liens/etc on those I wish to bid on. But there's no way I could have time in my day to pull docs on 4-10 properties if I had to look up 30-50 NTS' a day. Not to mention NOD's...
It's a numbers game, and that's why (once you get real serious) you don't mind the investment of under $100 per zone. Alubeck pays $75, I pay $89. It comes out in the wash. For that $89 I get HUNDREDS of properties downloaded into Sharkbait or my other CRR-Pro program a month, every day.
MOST of the online foreclosure "sites" are just reselling bogus/old data from the true scout/service sites. A lot of the "foreclosure dot com" sites get you to throw in a lowball monthly fee to look over old and scarce data.
When I get my feed it fills in over 60-110 variables on the properties, shows the 2nds, 3rds, liens, tax data, comps, LTV ratios, and more. It provides contact numbers for the Bene, 4Closure data service, Trustor, Trustee etc.
Food 4 thought. You get what you pay for. In some small markets where there's only 20 sales a month, sure, go read the paper...checkout the sports section while you're at it. But in markets where you've got 20-50 a day 5 days a week, and some push out 3 months or more due to mutual agreements, BK's, restraining orders, etc, you gotta go with the numbers game. Just my 2 cents FROM MY MARKET of SoCal. -MakoShark
ps, Don't buy junk data from a website, subscribe to a reputable service that the Auctioneer recommends.
here is a free foreclosure site. http://www.ocwen.com
[addsig]
online stuff is good to ok. your best most reliable information is to go to the courthouse and get the information yourself. If you wait for it to be published just stand in line. By going down to the courthouse you are way up front. It all depends on how serious you are about this. Online is fine but most of the good ones I have found are gone by the time they hit the E-list.
Quote:yea!!! finally someone with the work ethic of a good 'ol southerner ( I came to Virginia from Macon), yes, some of us still get off our butts and do our own works.
Good searching,
Don ( georgia cracker transplanted)
On 2003-08-27 12:20, MrsMeltzer wrote:
Why would you want to pay a monthly online fee if you can get the information for free?
Get off your chair, go to the Law Library at the courthouse like once a week and find the ads.
You're going to have to be at the courthouse anyway to do research on the property.
You're gonna have to put in work and put in time. Even us pros have to go down to the courthouse on a regular basis.
Hope This Helps,
Mrs. Meltzer