Are Free Foreclosure Lists Junk?  

What are the chances of an investor finding a good free list of foreclose homes? The whole idea is to buy  homes cheap and sell for a profit.  You can't do that if you don't have a source for homes being offered at below market values. 

Homes that are facing foreclosure or have been foreclosed upon can be very profitable targets.  If you are able to find bank-owned homes, you can expect to buy at 20% to 50% below market. The trouble lies in accessing a list of bank owned homes. Several internet sites offer listings, however, a subscription fee is involved. Although a few sites offer free lists, there are advantages and disadvantages to these types of listing services.

The Cost of Free Listings

If looking for a free World Wide Web list of foreclosed homes, you'll come across numerous sites offering free information. However, the information offered is generally on a trial basis. The bulk of listing services require a subscription fee before you are able to search for a home.

Nonetheless, many services may be worth a free trial. The catch is that you must supply the listing service with your credit card data. At the end of the free trial, they'll conveniently bill your credit card, and will continue to do so till you cancel.

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Rewards of Free Foreclosed lists

While free foreclosure lists aren't easily available, once you locate a satisfactory list, you have the chance to find profitable deals.  The best way to obtain a free list is through a real estate agent website. When banks work with estate agents to get properties sold, the agent is given a contract to list the homes on their personal or company web site.

Investing from a free foreclosure list allows you to shop for a home without leaving your computer. Free  lists that have value will include pertinent information about the home. For instance, property descriptions will include the home’s square footage, number of bedrooms, bathroom, supplemental characteristics, sale cost, circumstance, etcetera.

Few Good Free Lists

Sorry, but most free lists are a waste of time. Since the info is readily accessible to anybody, most of the property owners have been contracted before you get the listing.  Another fact of life is that free lists aren't updated regularly.

Here's the bottom line.  If you're serious about purchasing foreclosures subscribe to a reputable list.  
The only free ones we've ever found are worthless junk.  We suggest...

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   Are Free Foreclosure Lists Junk?