where is the best place to find current Missouri foreclosure homes?
I looked up a couple sites online but the houses they were showing were sold like 3 years ago...does anyone have any sites on this they would recommend? Preferably for Florissant in St. Louis county.
- Ron BerueLv 61 decade agoBest Answer
WHEN the property is bought at the right price AND when the property and your expenses are properly managed.
THEN when you get the right property THE BIGGEST challenge is getting the right tenant for the property AND PROPERLY managing the tenant AND property.
THEN you can earn very good money. OR you should be able to feel a little more comfortable with the purchase of that property for your own use.
You're going to discover every county in every state/province/territory operates and does things a little differently than the one next to it.
It requires LOTS of time and diligence.
This is what I learned: No one ever gives anyone anything for free. "There is no free lunch."
The best suggestions I can offer:
1A] It doesn't make any difference whether you live in a large city or a village/borough, make the investment of time to go to the County Court House or City Hall. Visit athe Recorder of Deeds Office/County Clerk's Office or whatever the office is referred to in Canada. The names are different, but the Office's function is the same: to record ALL REAL property documents.
The ladies and gentlemen in the City Hall or Court House are there to help the folks who come there to do business and take care of various matters about that city or county.
1B] You'll need a specific, actual address - even if its your's or a friend or relative living in that same county or city. The property owner's name would be very helpful. Ask an emplyee in that office how to research a property. Write down and/or remember each of the steps you are shown.
2A] When you finish researching that property, go to the Sheriff's Office. Ask for the rules for Sheriff's sales and foreclosures.
2B] IF the notices for the Sheriff's Sales are posted, choose any one or two. If you have to ask for the list, do so. Then pick one or two.
2C] Go back to the Recorder of Deeds Office/County Clerk's Office. With what you were taught and learned, do the research for that property.
If you get stuck, ask for help.
3] If you are able to do this, attend AT LEAST 3 of those Sheriff's Sales. You aren't going to bid on any property. You aren't going to buy any property. You are there STRICTLY as an observer. You want to see how the process works.
Foreclosures are only one very small aspect of the real estate business. There are others.
Thanks for asking your Q! I enjoyed answering it!
Yes, that is my real last name!Source(s): My wonderful family! In the real estate business over 34 years in PA. My wonderful coaches & mentors. Yes, after all these years I continue having them in my corner! THE ABSOLUTE BEST, MOST WONDERFUL real estate investment group in the world, which I was very proud to be a member of! "THE University of Hard Knocks"
- Anonymous1 decade ago
Most of the websites you find these foreclosures on, only give you 1/2 of the information. For example, if the property had two mortgages, they show separately. And it doesn't tell you when the property would be available to the general public to bid on. And yes, in effect you would place an offer/bid on what you think you want to purchase, but you won't be the only one. Plus, even after sheriff sale/foreclosure, the owner has a period of redemption and depending on the state it's in, could have as much as a year to redeem the property. You should probably consider a "bank owned" property. But again, the collect bids and then decide which one they like best. It just not a simple process.
- Anonymous1 decade ago
hud.gov and go to realtor.com, they will be priced a little lower usually and often only have one really bad picture, also the county assessor page often will let you search bytype of sale, sheriff sale, tax sale, sale amount 0 etc. look at the ones which are still in mortgage co name, also type in the different bank names such as wells fargo, etc and reo together, there is a site with links too, good luck!Source(s): bought a foreclosure from hud last year, lowballed it because of the work needed and got it and getting ready to list for 45k more than I owe(almost half the value of the home in iowa)
- ladystangLv 71 decade ago
go to that countys courthouse