Finding Foreclosure Listings For Horry County Sc

16 October, 2010

You’re either looking to purchase a home or are simply interested in investing in some real estate but, like any rational person, you want the best bargain possible. A foreclosed property can often be just such a bargain and, with a little homework and good judgment, you could be the proud owner of your very occupy piece of land.

When looking for foreclosure and pre-foreclosure listings in your area, you have several options. You can search the classifieds of local newspapers such as the Horry Independent and the Myrtle Beach Herald because, by law, when filing a foreclosure a Gaze of Sale must be published in the newspaper. You can also search public records at the County Clerk’s office, which can be tedious but has two advantages: it’s free, and you’re likely to find defaulted properties that haven’t yet made it to foreclosure or newly posted properties that are not yet available to notion on internet databases.

Another, and much simpler, option is to search online. There are many websites dedicated to foreclosure and preforeclosure listings, but while some of them use the same information, they’re not all created equal. Almost all of these sites will require a paid membership, usually after a free one-week trial. If you plan to make utilize of the situation for the one week only, be aware that it’s customary to collect your credit card information at signup and if you do not want to be charged for a membership following the free trial, it’s entirely up to you to abolish your registration. Also, if you are unexperienced with the real estate market, it will behoove you to do some additional research on the nature of foreclosures as most of these sites offer miniature more than listings; it is assumed that you already know what it means for a property to be in foreclosure.

Foreclosure.com

According to Foreclosurelistingsites.com, this site offers about 1.2 million listings nation wide, including foreclosures, pre-foreclosures, bankruptcies, for-sale-by owner homes and tax liens. The cost is $39.80 monthly after a one-week free trial. You can’t view property details without participating in the free trial and you can’t participate in the trial without entering your credit card information: a definite drawback but one that is shared universally among these sites. The benefit of this particular dwelling is the variety of properties on offer and the ability to customize your search by impress, number of beds and baths, zip code and city.

ForeclosureReporting.com

This site uses the same data as Foreclosure.com but with a much lower monthly impress of $19.95. While it only offers foreclosure and pre-foreclosure listings and has less customizable sorting capabilities, this service is perhaps the best value available. It does have a one-week free trial.

ForeclosureFreeSearch.com

Don’t let the name fool you: this one charges objective like the others. To view the details of each listing, you have to sign up for the free trial. Once again, if you don’t wish to continue your membership following the trial period, you will have to remember to kill, otherwise the state will charge you $9.95 per week. This fee amounts to the same monthly price as Foreclosure.com, but you are only charged for each additional week that you continue to withhold the service. If you intend to only use the service for a short period of time, this might work out for you. Otherwise, ForeclosureReporting.com offers much the same services for a cheaper monthly price.

Some online sites tout having the same data as the big services but for free. FreeForeclosureDatabase is one such set, but is poorly designed and not very user friendly. Freeforclosureblog is also free but offers less listings for this area than the other paid services.

If you are looking into REO properties (or properties that revert attend to the mortgage company after failing to sell as foreclosures under auction) Freehudlist.net is a useful site with grunt links to bank and mortgage company listings of these properties.

Finally, fair a word of caution: make sure you do your research. Don’t automatically assume that every foreclosure or REO property is going to be a bargain. When purchasing a foreclosed property, you’re buying it “as is,” so you will have to factor in renovation costs as well as any possible liens that might still be outstanding. According to RealEstateabc, with foreclosures “what is owed to the bank is almost always more than what the property is worth.” It would therefore be a good idea to compare the notice you’d be paying on your foreclosed property with other properties in the vicinity to ensure that you are not paying more than you should. But with these thoughts in mind and some judicious use of good sense, you should come out fine.

Sources:

Joshua Dorkin, “How to Find Foreclosure and Pre-Foreclosure Listings”, BiggerPockets

“How to Find Foreclosure Listings”, eHow

“Foreclosure Website Reviews”, ForeclosureListingSites.com

Walt Harvey, “Buying Bank Owned Real Estate”, Real Estate abc