Foreclosures- Some Basic Information
Foreclosed properties, properties that have completed the foreclosure process and are not bought at the foreclosure auction are often referred to as REO's. This term means Real Estate Owned. This term is used by banks and Realtors to identify this type of property.
Once a home is bank owned (REO) they are often listed with a real estate company and are viewable on the MLS. To see them and any other available properties that meet your criteria go to our MLS search page: MLS Property Search
Or you may request a Free Market Snapshot that will include all the properties for sale that meet your criteria including REO's: Free Market Snapshot
To Receive a List of Pre-Foreclosure properties Go To One of These Sites
What Is Meant By Pre-Foreclosure
When a home owner stops making payments to the lender or gets behind the lender may start the process of foreclosure. These homes are identified and lists are often sold, or a web site such as the ones above allow you to search an area, such as Taft, for homes that are in some stage of the foreclosure process.
Disclaimer
This is NOT intended to be legal advise. This is for general information purposes only. Purchasing properties in any stage of the foreclosure process is risky and you are advised to consult a lawyer and or a Realtor for specific advice for your individual circumstances. All information is deemed correct but not guaranteed.