Property Search
Foreclosures
While the term "foreclosures" has come to mean many things to different people, a foreclosure is the proceeding in which the lender repossesses a home when the borrower defaults on a loan. These properties are then referred to as bank-owned or REO properties, which are then sold by the banks at distressed prices. A foreclosure is a government foreclosures if the loan was backed by a government agency such as HUD. In that case the government agency would be responsible for selling the property.
Rent to Owns
Rent-To-Own properties are often grouped together with properties offered for sale directly by owners with an Owner Financing option. Under this arrangement, the buyer makes installment payments directly to the owner/seller instead of a bank. Owner Financing programs often provide for Lease Purchase or Rent-To-Own. Rent-To-Own properties offer home ownership opportunities to those who have poor credit, by paying a fee that allows the tenant to purchase the home at an agreed-upon price.
Pre-foreclosures
Pre-foreclosures include Lis Pendens, Notices of Default and Short Sales, and represent the first stage in the foreclosure process, when a homeowner has missed at least one payment and is now considered delinquent on the loan. Buying a property in pre-foreclosure involves approaching the owner and offering to buy the property outright. The owner can avoid a bad mark on their credit, while the buyer can negotiate favorable terms including significant discounts below market value.
Auctions
The auction is the stage of the foreclosure process after the pre-foreclosure phase of the property has ended. You can attend an auction and bid on the home, just like any other auction. During an auction, the lender is seeking to recapture its losses by auctioning the property in a public sale to the highest bidder. Buying a home at a public auction can be challenging, including down-payment requirements and competing with other bidders, but it can also be rewarding if you win the auction at a great price.
SmartDeals
Buying a foreclosed home is often the best way to get a great deal on a house. But good deals can also be found in the MLS database (properties represented by a real estate agent), For Sale By Owner listings (properties sold directly by owner without an agent), or homes that are simply under-priced because the owner needs to sell quickly. There are millions of such properties, so it can be difficult to find these deals. We've done all of the research for you by picking out the best deals and providing each property's SmartZip score.
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How To Search Our Listings
You can select the desired CITY, but to do that you must FIRST select the STATE and COUNTY you want.
Alternatively, you can just type in the location you want to search such as the ZIP CODE or CITY/STATE. As you type, we'll try to guess where you are searching. For instance, if you type "new y", we will automatically show you "NEW YORK COUNTY, NY", "NEW YORK MILLS, MN" and "NEW YORK, NY". Please be patient as it takes a second for us to show you all the options.
Once you've picked out your location, click the checkbox for the type of sale you're interested in, whether it's a Foreclosure, Rent to Own, Pre-foreclosure or something else. If you're not sure which type of sale fits you, select "All" or just leave everything blank.
After that, you're all set. Just click SEARCH and your results will be on their way!
You can select the desired CITY, but to do that you must FIRST select the STATE and COUNTY you want.
Alternatively, you can just type in the location you want to search such as the ZIP CODE or CITY/STATE. As you type, we'll try to guess where you are searching. For instance, if you type "new y", we will automatically show you "NEW YORK COUNTY, NY", "NEW YORK MILLS, MN" and "NEW YORK, NY". Please be patient as it takes a second for us to show you all the options.
Once you've picked out your location, click the checkbox for the type of sale you're interested in, whether it's a Foreclosure, Rent to Own, Pre-foreclosure or something else. If you're not sure which type of sale fits you, select "All" or just leave everything blank.
After that, you're all set. Just click SEARCH and your results will be on their way!