This is a question that I got just the other day Part 2

Q:  HI! Happy New Year! How was your Christmas? Mine was busy as usual. Anyways I have a few questions for you. Which source do you think is the most reliable to find current foreclosures? Motivated Real Estate Agents or Brokers,  the court house or those foreclosure list they sell? On to the next question. Do you know of any other sources I can look into?

Here is my answer to part 2, there are several places where you can find information to buy a foreclosure.  I am not really into buying lists since the information is for free.   This is not going to be a complete list of where to find foreclosures but it will give you some ideas where and what it may take to find them since this is more for your do it yourself person and it should point you in the right direction.  First place to look out for foreclosures, that will be hitting the market is your local newspaper.   So if you want to find some foreclosures’ locally and want to find Santa Maria homes that will be for sale just check out the Santa Maria times in the classified section where it lists Trustee Sales.

When the homes are printed on your local newspaper it will list the address and the dollar amount of the minimum bid of the loan in default and the date of the trustee auction as well as the location.  Typically the location is your county court house for example if you are looking for Santa Maria homes or homes in the county of Santa Barbara they are typically going to hold the auction at the court house in Santa Barbara.  Now when you try to buy a home at a trustee auction you will need to pay for it in a Cashier’s check there are no loan papers and you will not be going home to get a loan etc.  You also will be assuming the property AS IS if there are any issues with the property including any liens, easements, or plumbing problems or termite infestation they are now your problems.  So before you buy a home at a trustee auction like I said before make sure you know what you are doing and do your homework first on that property.

Next place to find homes that will become  foreclosures and if you don’t have the time to buy the paper or you want to buy homes out side of you current area.  Go to this website and just sign up its free www.fidelityasap.com.  Here you will find all the same information that you do on the newspaper.  When trying to buy a home at these trustee sales you will find out that a lot of them are rescheduled and cancelled or postponed etc for any number of reasons and there is no real way to find out which one’s will actually be auctioned off that day.  This can be very, frustrating on trying to buy a home but sometimes you can get some incredible deals.

Next place for another source of foreclosures is www.homepath.com.  These are Fannie Mae owned homes and they will be either hitting the market or on the market right now and they are assigned to a real estate agent in that area.  You can either call the agent directly or have your agent look into if you read part 1 I suggest finding yourself an agent to work on your behalf and have him contact the listing agent.  You can sign up for notifications and at least you can see what homes may be hitting the market.  So go here to find Santa Maria homes for sale or will be for sale or you can look up your particular area, that you may be intersted in the useful aspect is being able to get advanced notice of the homes that will be for sale.

Last place to find some foreclosures are at auctions done by private auction companies you can do a search on the internet to find one near you.  Keep in mind you will have to find out what are the terms and conditions of that particular auction company, in order to participate in the auction.   Here is one you can check out and see what homes that they may have for you particular area that you may be interested in http://www.auction.com.  They usually provide a list of homes and addresses and minimum bid as well so you can have time to do your homework prior to the auction.

Like I said before the best place is going to depend on the amount of time you have to do the research.  As well as the amount of money you have, because if you plan on buying a home at a trustee auction you need cash.

Hopefully this was useful and if you happen to be looking for any Santa Maria homes for sale or Central Coast homes for sale. Let me know if I can be service to you.  But if you are out of my area I hope that this information was useful.

Please help me out in giving you the information that you may be interested. If there is a topic that you are curious about need more clarification let me know.

Thank you

If you want to search for any homes for sale in Santa Maria or the Central Coast you might want to buy just go to www.GenePerez.net.

If you have any questions about this article or buying a Santa Maria home for sale or any properties on the Central Coast or need to get a loan in Santa Maria, CA or on the Central Coast as well as other real estate related questions please contact me by sending me an email at: GenePerez@GMSLoans.net

my goal is to provide you with resources you need. I can also help in getting the financing for your home.  If you have any suggestions or questions in how I can provide more or better information please let me know.  I have been helping my clients for the last 15 years  on the Central Coast,  Gene Perez,  Ph. 805.448.7101, Fax, 805.352.1109 – DRE 01321588