It is now possible to find your dream home or condo at unheard of bargain prices in the world of foreclosed real estate. Foreclosed property gives you the chance to buy a home for your family or for investment purposes, at prices as much as 80% below the market price. Read on to learn how to search for such properties online, totally free, by following 3 easy steps.
Understanding Foreclosures
Let’s take an example of a home which is purchased with a loan from a bank to which the home is mortgaged by the owner. If the owner fails to make the payments, the bank takes possession of the home and tries to sell the property on the real estate market. The bank wants to make a quick sale to recover the balance of the mortgage. To sell the property fast, the bank often undersells the property as much as 20-80% below the market price.
How to Browse Foreclosure Listings for Free
Follow these 3 easy steps to browse foreclosure websites 100% free:
1. Visit one of the major foreclosures listing websites, such as Foreclosure.com, RealtyTrac, RealtyStore, etc. These sites offer the most comprehensive listings, as well as free 7 day memberships.
2. Sign up for a free 7-day trial membership. These memberships are offered by all major foreclosure websites and will give you full 100% access to all listings, photos, prices, and addresses for a period of seven days.
3. Browse all listings in your area for free! Seven days should be plenty of time to check out what is available in your area and get a better understanding of foreclosed real estate. You might even find the home of your dreams.
After your free trial has ended you may decide to continue with a full paid membership, or sign up for a free trial with another online foreclosure service, the choice is yours.