buying foreclosures?

[buckybill]

buddy of mine has purchased two, and went through an agent to get them

[Larryf250]

I work as an asset manager for a company that sells foreclosures nationwide. Banks don't really dump properties at rock bottom prices they are going to try to get as close to retail as possible. They already took a hit when they had to foreclose in the first place. That being said just get a good realtor and tell them you are interested in foreclosures. That will be your best source. If you have questions shoot me a pm and I'll try to answer them.

[Mister Bubba's bulletman]

Looking around on trulia, there are a lot of foreclosures showing up. The details are limited on these houses usually. THere is a link to some service for a "free" 7 day trial...I'm assuming that it cost just to find out info on foreclosures?

how does one go about finding out the auction info, or bank info on these?

If you're a self starter and don't need a loan to buy the properties then head down to the court house.

There will be a board where all foreclosure auctions will be posted. Or used to be. I'm sure you can can find a lot of them on line for free.

Pick the one you want to bid on and start researching.

If it's deal you won't be the only one wanting to win the bidding.

Here's an example.

Years ago I used to frequent the Travis County sale every month. Every time I had a couple of properties lined up I wanted to bid on I was out bid by three or four major players. One was the General, God rest his soul, then there was the Father and the Son, and last but not least was the Iranian Con men crew(currently jailed, dead and or in Iran). One of those con men later worked me for $10,000 on a property. I got the last laugh.

I personally have only bought a handful at auctions over that last 25 years of RE investing out of hundreds of potential buys.

It very competitive and seldom do they go for less than market.

Good luck.