If your last name starts with A - N, read this post today. Everyone else, read it tomorrow.
August 20th, 2007 - Categories: Buying a home in the Dothan area, Dothan area Real Estate Market information, Real Estate News
By: Judy Spears
Broker Associate, CRS, ABR, GRI, CNHS
http://www.judyspears.com
You’ve heard the ads on the radio. “Call today for a list of foreclosures in your area”. So what do you get for your money? Most of the time not much other than an outdated and mostly useless list. I recently talked with someone who had purchased such a list. They paid $25 and were promised a complete list of foreclosures in Alabama, including properties in a variety of conditions and price ranges. What they got was a list that included properties that had been foreclosed on as far back as 2005!
So where can you find information on foreclosures in the Dothan area? There are a couple of websites you can check. www.ocwen.com has VA foreclosures, and you can go to www.hooksvanholm.com for HUD foreclosures in and around Dothan. Both of these websites have good information on finding and buying foreclosures, including the process you will need to go through to bid on one of their foreclosed properties.These sites only cover a couple of different types of foreclosures however. There are many bank owned properties, called REO’s, that will not be listed. The easiest way to find these? Work with a real estate professional that is in the market everyday and can notify you when these homes hit the market. Very often, they do not remain on the market for very long, so you need as much notice as possible if you plan to actively pursue these opportunities. Because there are so many different banks involved, websites or lists that promise up-to-date information yet deliver that information as hard to find.If you have a reliable source for foreclosure information that you would like to share, or have had an experience buying a foreclosure, let us know by commenting below.
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