Best site for bank owned/ foreclosed homes? Most are shit.

usually the ones that aren't shit are short sales because once you get past a certain amount of money and can afford a house that isn't shit you are smart enough to not let the bank take your house...

>>958596
The best homes are sold off market.
Sorry

>>958596
loopnet

There's no site. The databases are separated and unique across various counties.
By the time they make it to the sheriffs auction they're already a bit expensive and the best stuff was picked off.
You want pre foreclosures and to negotiate into them just before the bank takes it back. Generally assignment of Mortgage will do the trick.
Check at the local REIA for the software/sites they use. and how they do custom searches for places with different mailing addresses to the home address.

Homepath.com lists Fannie Mae properties.

>>958649
How? Any advice?

>>958787
Li Ching China?

>>958596
Find the local realtor that lists FNMA houses. They will no about upcoming properties months before they hit the market. That's essentially the only way you'll get a good one before it hits market.

>>958596

Look for the courthouse auctions.

>>960604
Look up sheriff sales. Contact the person who is having their property sold. Offer cash. You will have to pick up any back taxes or leins on the property.

Is it possible to get conventional home loans for properties in these categories or is it just for cash only people?

In the U.S. where I live, the newspaper publishes information online for sheriff levy foreclosures and that brings up case numbers. I look specifically for

"The execution ordered the sale of defendant(s) Real Estate Described Below"

Then I go to the local county jail and get auction information which they don't publish online. I think they should, but they don't. Then there is an auction, but usually only a couple other people show up if the property is "worth" anything. You also have to search for tax leins against the property which can be done online and at city hall. A lot of the better homes, homes valued at like 200k in my area, don't even make it to auction because people will go in and buy them for $50k or so and sell them off pretty quickly. In my area, it's a large group of investors - I get the stuff thats like $45k, and worth maybe $90k after $10k worth of repairs that usually sit on the market for a while at $90k so I just rent them out.

This is like 5% of the information you need overall to actually buy homes in this way. I won't go into tax liens and other types of liens because it would be the length of a book. I've been doing this for 15 years, and desu, I don't know shit.

As far as I know, most if not all lenders won't touch foreclosure properties in regards of offering you a mortgage or loan, it's very risky.

>>958608

You have to look around and literally walk up to homes to see if they're inhabited. Then you can ask your broker to look into who owns the home, and if you're lucky it's bank owned.

A good way to recognize bank owned properties is if they've got papers stuck on the front door that they've been winterized or had their garden maintained according to city standards by this or that company.

Usually these homes get built by wannabe bigshot entrepreneurs that end up failing in some spectacular way and can't afford mortgage anymore.