Saturday, October 1, 2022

How To Find Houses For Sale In Your Area

Can I Find Out How Much A House Sold For In Person

How to find and buy foreclosed homes for sale in your area

If you want to find out how much a house sold for in person, go to your County Recorderâs Office. A County Recorderâs Office maintains all the records for real estate sales in the area that it serves. In most counties, youâll be ableto look at the records yourself, while in others the office staff might look it up for you.

If for some reason, your county government office doesnât have the information yet, or you live in a state that has non-disclosure laws, your only option is to contact a top agent in your local area, like a Clever Partner Agent.

Partner Agents have years of experience in their local markets and access to any information you need on local properties. Find a top local agent in your neighborhood today for more information.

Finding Cheap Houses: Foreclosures

With a foreclosure, the bank owns the home. Its often the step after a short sale fails, and one of the advantages of buying a foreclosure over a short sale is that the previous owner has already moved out.

Finding foreclosure auctions varies by city, county, and state. Some cities list foreclosures for auction on the town website Others require that banks publish auction listings in the local newspaper. If you attend a foreclosure auction, you need to have proof of funds and be able to pay cash for the property.

There are some serious drawbacks to purchasing a foreclosure. You have to vet the property in advance, and you often wont be allowed to tour the property before the auction begins, so you wont know what its like inside or if its a good deal beforehand. Its also not uncommon for homeowners in foreclosure to strip out everything of value, down to the copper pipes, when leaving.

If you win a foreclosed home at auction, you can have a home inspection done, but you cant negotiate the price after the inspection. Your only option is to either proceed with the sale or walk away, and you wont be refunded the inspection fee.

Rosin advises that you familiarize yourself with the local laws before bidding on a foreclosure. There are trustee states and judicial states, she says. In a trustee state, we bid on the house, put $10,000 down, and the next day the money is due, and youre done.

Advertising Direct To Sellers

The third way, is to advertise for those opportunities, yourself, directly to sellers.

You’d be trying to get your message and your brand and your company and your ability to buy off-market properties, in front of those sellers, before they’ve even thought about or yet, got to a position, where they are considering, listing their property for sale.

That is going to require some time and some effort and some funds but you can do newspaper adverts or leaflet drops. You can advertise on websites and on social networks, your business and what you are looking to try and buy. So, there are ways that you can get, directly, to those sellers, with that model.

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Look Up Just Sold Property Listings On Realtorcom

Whats interesting about the Just Sold database on Realtor.com, is that it provides not only a map of recently sold homes in the city, but it allows users to play with a variety of map overlays to learn more about each area of the city and its features. For example, what the noise level is or what the proximity is to a grocery store or coffee shop.

In this example image below, were looking at recently sold single family homes in Boulder, Colorado, as well as their proximity to area grocery stores. By clicking through onto the map, you can view the selling price information for each home, as well as how many days the house was on the market before it sold and how expensive it is compared to other properties in the area.

Try the Realtor.com Just Sold tool using this link. When youre viewing the listings results on a desktop browser, youll see a toggle button on the top right that allows you to select List or Map. If youre on a mobile device browser, there will be a Map View button on the bottom left.

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Leafleting To Find A Property

If theres a particular area or building you want to buy in but there’s nothing suitable for sale, you could try dropping leaflets into any properties you think might work.

Be sure to include:

  • A brief explanation of the type of property you’re looking for .
  • Anything that makes you sound like an appealing buyer .
  • Your contact details.

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How Much Does A Real Estate Agent Cost

Most real estate agents collect 2.5â3% of a homeâs sale price as a commission fee at closing. Because most home sales involve two agents, the total commission is usually between 5â6%. If youâre the seller, youâll typically be on the hook for this fee however, itâs taken out of your sale proceeds, so itâs unlikely youâll be paying any of it out of pocket. That said, 5â6% is a hefty chunk of change that can really eat into your profits. Luckily, some brokerages and agent matching services are upending the conventional commission model and offering significant discounts for sellers â in some cases, with no reduction in service quality or scope. Find out which companies offer the lowest commission rates here.

The Problem With Waiting For Tax Lien Sales

Searching for HUD properties on Foreclosure.com – Listing type help video

The city, county, or township will hold a public auction or tax lien sale to try and recoup some of the unpaid property taxes at least once a year.

This isnt a secret its the avenue many real estate investors use to find and buy great properties at much less than theyre worth.

Thats the issue. So many longtime and beginner investors show up and show out at these auctions that a few negative things can happen:

  • Too many bidders at the auction, less opportunity for each one
  • Limited choice means only the properties already seized are available
  • Bidding wars drive costs up, sometimes beyond market value

None of these are good things in the world of real estate investing. In order to access the best deals and the widest range of properties, you have to get out of the highest bidder mentality and get your hands on the delinquent property tax list and contact pre-foreclosure property owners.

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Another unique Clever benefit is that every member of its concierge team is a licensed real estate agent. They can provide general real estate advice, in addition to helping manage the relationship with your agent.

Leaflet The Area You Want To Live In

A good way to find out about properties before they hit the market is to leaflet your target area. If you know exactly which area or street you want to live in , and there arent many properties on sale, then consider leafleting it.

Put notes through peoples letterboxes telling them about yourself and asking if they intend to sell. Many people spend years thinking about selling, and you might prompt them to take the plunge.

The seller may not want to put their house on the open market in order to avoid estate agency fees. Direct sales avoid estate agent fees.

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How To Choose An Agent Matching Service

To get the most value and best outcome, always look for these qualities in an agent matching service:

Great customer service: The best brands have dedicated customer service teams that help guide you through the selection process and manage the relationship with your agent to ensure they deliver a good experience.

Strict quality standards for agents: You want a service that will match you with a highly-rated, experienced real estate agent from a top nationwide brand or regional real estate brokerage. Clever removes agents who become inactive or get negative feedback from customers. Itâs sometimes hard to tell the difference â we break down the good ones vs. the bad below.

Provides multiple agent matches: Look for a company that lets you request 2â3 agent matches to compare. If you try a brand that only offers a single match , consider signing up for another free service to get a few more options to compare.

Includes cost-savings benefit: A few brands offer built-in commission savings when you find your agent through their service. If they find an agent you like, you could literally save thousands vs. had you found the same agent through a competitor or on your own.

My Take On Tax Delinquent Properties

List Of Foreclosed Homes In My Area

Let me start by saying that this is only my opinion. I dont fault anyone for trying to find tax delinquent properties. They can be a great way to find property for little money down.

That said, my investment strategy revolves around helping people, and buying past-due tax notes just doesnt fit my model. I couldnt sleep well at night knowing Id be taking someones house from them for a small past due balance.

Yes, business is business, but I just dont believe in the model when it comes to buying with the goal of eventually taking the home. However, it can be highly profitable when done right.

And again, not everyone shares my investment philosophy, which is fine. Alternatively, some investors are just seeking interest, and tax delinquent properties offer a great return.

If you dont actually intend to foreclose on the home, it can be a great way to help someone get back on track while also getting a little interest in the meantime. Its a win-win.

I have looked into this, but the time and effort required were not worth the return for me. Its a labor-intensive process, and most balances fall under $5,000, so even at a 14% interest rate, here in Nebraska youd only get 7% annually. This is simply is not enough return for me to invest my energy into a deal

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Take Snaps When Viewing

Take photos, as they’ll be a useful reference point when all the homes blur into one. Check with the estate agent first, but don’t feel like you’re being cheeky.

As one house seller on the forum, Gorgeous George, says:

If I thought letting a potential buyer take some pics might clinch the sale, I’d have special lighting set up by the BBC.

Gorgeous George

Who Invests In Distressed Properties

Both homebuyers and real estate professionals frequently choose to invest in distressed properties. Homebuyers hoping for a fixer upper and lower purchase price, may find these homes to be an excellent opportunity. Distressed properties can also give homebuyers a chance to break into fast-moving markets, as there may be less offers to compete with. Real estate investors are typically interested in distressed properties for the same reasons. Distressed homes often have a lower purchase price and feature highly motivated sellers in many cases. These characteristics can help investors secure more profitable deals.

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Remember House Prices Can Go Down As Well As Up

A warning from MoneySavingExpert.com’s founder, Martin Lewis:

Remember, no one can tell you what’s going to happen to house prices, though many will try.

I remember doing an ITV News debate with a senior estate agent and a City economist. The first predicted strong house price growth, the other a 30% crash. I said: “Anyone who tells you they know what will happen is talking nonsense. No one knows.” To which they both said, “rubbish!”

Property is an asset just like any other. Just as no one can always guarantee to call the stock market right, the same’s true of the housing market.

Which Real Estate Website Should I Pick

Wholesaling Real Estate | How To Find Vacant Houses In Your Area

Youâre better off checking more than one real estate website. Most real estate websites have either an address lookup tool or a map that allows you to zoom into neighborhoods. Common websites include Homes.com, Zillow, Trulia, and Realtor.com.

Itâs best to check as many real estate websites as you can so you can compare results. Itâs normal for multiple sites to have conflicting information. If you find different sales prices for the same house, youâll want to confirm the results with a local realtor.

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Check Trulias Property Information Database

Trulia is another popular tool used by homebuyers and sellers that provides pricing information for sold properties based on both public information and agent-reported sales.

To look up recently sold properties in your area, select the Sold option and then enter the city or specific address youre researching. In this example image below, were looking at single family homes in Austin, Texas, that have sold in the last three months. Each red dot on the map represents a property, which you can hover over to get more information on the propertys details and selling date.

When you click on an individual property, youll also be provided with a list of homes for sale in that area. This allows you to see what the current market value is for houses in that area of the city.

Try it yourself using this Trulia link. Remember to click the sold button before you hit the search link.

What Are Property Taxes

Before we explain how to find tax delinquent properties in your area, we need to cover the mechanics of how property taxes work. If this is too elementary for you, skip to the next section.

If youre new to this, keep reading, as this is good information to know. Long story short, every home and land owner must pay annual property taxes to the city, county, or township in which the property is located.

This money pays for roads, parks, emergency services, and anything else that the municipality offers to the public. In some cases, there are bonds added onto specific parcels to pay for schools or other public amenities.

The municipality must be able to track the amount of taxes owed, the property owner, and a little information on the property itself. All this information is compiled by the tax assessor and made available to the public.

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Ask Friends And Family

Turn family and friends into your army of property scouts. Tell everybody you know that you are looking to buy and ask them to keep their eyes peeled and their ears open for any suitable properties about to come up for sale. Often you will hear through word of mouth that a suitable property is, or will soon be, for sale.

Buyers Find An Endless Variety Of Houses For Sale By Owner

Most Dallas neighborhoods are experiencing a home sales slump  see the ...

Our nationwide network lets buyers locate the ideal property listed directly by owners. Visit our “for sale” links to find thousands of homes to choose from. Use the ByOwner.com search tool to find homes, condos, land, and multi-family units for sale.

Avoiding traditional agents by connecting with owners can save you money, too. Less money in commissions can mean more reasonable pricing, one less person between you and your new home, and less hassle all around.

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Short Sale Listings: What To Look For

Most short sales are listed by real estate agents. You’ll find these listings on local websites and in MLS feeds to various sites. The first step in identifying short sales is to find where the term “short sale” appears if you have access to search terms. It might show up under “status modifier,” or the term might be contained in the marketing comments. Choose that field as your search term.

Agents might not directly say that a listing is a short sale. Instead, they could slip in terms that identify the listing as a short sale, including:

  • Headed for auction
  • Third-party review required

The “third party” designation sometimes means that the seller has not yet submitted the required documentation to the lender to be approved for a short sale.

Read the listing carefully. You might be looking at a “contingent short sale,” which indicates that the home isn’t for sale or that only a backup offer will be considered.

If a listing has a “third party” designation, it will likely take extra time to get the approval process underway.

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