Foreclosure.com Review: The Best Place to Find Foreclosed Homes?

Foreclosure.com is an online platform that has made it easier than ever to search, identify, and purchase foreclosed properties. With an expansive and up-to-date database of foreclosure listings, Foreclosure.com allows investors and homebuyers alike to find properties at an affordable price.

Strap in for our formal Foreclosure.com review, from how it works to its advantages and disadvantages.

Foreclosure.com Review at a Glance

• • Property Types Available: Bank-owned homes, government foreclosures, pre-foreclosure listings, real estate-owned properties (REO), and foreclosure auctions.
  • Minimum Investment Required: The earnest money deposit with a submitted offer, plus any down payment and closing costs. According to Foreclosure.com, you could pay up to $5,000 or more, depending on the price of the property.
  • Fees: $39.80/month after a free seven-day trial period.
  • My Take: Foreclosure.com has pretty much everything you need to browse and actually buy foreclosed and distressed homes.

What Is Foreclosure.com?

Foreclosure.com provides users with up-to-date information on foreclosure homes and distressed real estate across the United States. Homebuyers and real estate investors can research and purchase distressed homes including pre-foreclosure filings, foreclosure auctions, bank-owned properties, and short-sale properties.

In contrast, real estate agents only see bank-owned and short sale properties listed on the MLS.

On Foreclosure.com’s “About” page, it states the company is the #1 provider of foreclosed homes. And with over 1.8 million properties listed, the company clearly works to maintain this ranking.

The platform provides detailed property information such as neighborhood data, estimated property values, and more. Additionally, users can search for properties by location, price, and other criteria. Foreclosure.com also provides helpful resources and tips for novices considering investing in distressed real estate.

You can access the database 24/7, and while the website isn’t the prettiest to look at, all of the info you need to evaluate a potential real estate deal is listed for you. You need to create a free account to access the full description and images, but that takes a few seconds. Just give your name and email, and create a password.

Foreclosure.com: Key Features

As you review Foreclosure.com, scope out these features designed to make buying a foreclosed home simple.

Search Home Foreclosures

Foreclosure.com focuses on “distressed deals” at every stage of the foreclosure process, including:

• Preforeclosure listings
• Foreclosure auctions
• Bank-owned homes (real estate-owned or REO properties)
• Government foreclosures

You can search home foreclosures in all 50 states. Filter your search by county, city, or even enter an exact address if you already have a home in mind.

By way of example, here’s a teaser showing current foreclosures in your area:

Detailed Listings

While you must sign in to view every piece of info, the listings on Foreclosure.com are robust. To give you a sense of what a listing looks like, I’ll use an example from my hometown, Portland, Maine.

You’ll start with photos (which you can only access after you’ve created an account), and next you’ll see the foreclosure timeline:

This particular listing has passed the pre-foreclosure phase, nearing auction. Beyond this, you’ll get to the nitty-gritty: the property details.

Again, you’ll notice that you have to sign in to view all of this information. But once logged in, Foreclosure.com provides all the information you need to get a feel of the home and the surrounding area. That includes legal records about the foreclosed home’s history:

As you scroll down through the listing, you’ll see a section that explains the rental potential in the home:

While this is an estimate, it’s pulled from local data and past rental history associated with the property or other similar properties in the area.

In general, as long as you have an account, you can see a wealth of details on all properties and you’ll be provided with the next steps including information about the public auction, seller, and so forth.

Cheap Home Options

While many foreclosed homes usually sell lower than non-foreclosed homes, Foreclosure.com has an option that specifically caters to those looking for homes under $60,000. You’ll search just like you would through the homepage, but the search focuses on cheaper homes in your area.

Lower-end investors sometimes have difficulty finding real estate professionals and other support personnel that cater to their niche, so it makes for a useful feature for these investors.

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Rent-to-Own Options

While this feature is built more for would-be homeowners, it’s still worth pointing out. Foreclosure.com offers rent-to-own search options for all states. Simply click the state or county you’re interested in and arrive at a state-specific rent-to-own page where you can browse through listings.

Scroll down and you’ll see a larger explanation of the property, including info on the number of beds, bathrooms, etc. the home has. Once you’re signed into your account, you’ll see all the contact info you need to get the rent-to-own process started.

What’s helpful here as well is the little blurb Foreclosure.com includes called “First Steps to Buying a Rent-To-Own Home,” which gives you a brief explanation of how the process works. Additionally, Foreclosure.com includes commercial properties in addition to residential rent-to-own properties.

Fees

Gaining access to Foreclosure.com isn’t free. They offer a free trial for seven days that offers all of the features of a paid account. To continue to use Foreclosure.com, you’ll pay $39.80 per month. While this may not be worth it for beginner investors just looking to browse, for investors that regularly purchase properties, this is a small price to pay, especially compared to competitors.

Foreclosure Knowledge Center

Investors can take advantage of Foreclosure.com’s articles that explain the details of the foreclosure process in general. This is perfect for beginners interested in potentially purchasing a foreclosed home, but aren’t quite ready to do so yet.

Foreclosure Email Alerts

You can also sign up for free foreclosure email alerts. These alerts are sent directly to your email and consist of a list of foreclosed homes for whichever zip code you desire. Additionally, Foreclosure.com offers a list of foreclosure laws and timelines for all 50 states.

Advantages of Foreclosure.com

Foreclosure.com talks a big game, claiming the title of largest marketplace of foreclosed homes.

And they mostly live up to their boasts. Advantages to Foreclosure.com include:

• • Comprehensive Database: Foreclosure.com provides an extensive and up-to-date database of foreclosed properties, making it easy to find the bargain house of your dreams.
  • Easy to Use: The site’s intuitive design ensures that searching for a foreclosure is simple, quick, and user-friendly.
  • Low Cost: Foreclosure.com offers a low-cost subscription model that includes access to the latest foreclosure listings and invaluable resources such as foreclosure statutes and related news.
  • Reliable Resources: Foreclosure.com provides users with an array of reliable resources and support to help them through the foreclosure process.

Downsides of Foreclosure.com

While Foreclosure.com provides a vital resource for real estate investors looking for low-cost homes, it’s not perfect. A few downsides to Foreclosure.com include:

• • Lack of Access to Detailed Tenant Information: Foreclosure.com does not provide access to detailed tenant information. Granted, lease agreements between property owners and renters are not on public record.
  • Potential for Missed Properties: Foreclosure.com assimilates data from many sources, but that doesn’t mean they catch every distressed property in a given market.
  • It Costs Money. There are free services that allow you to look through foreclosed listings for free, and Foreclosure.com isn’t one of them, at least not long-term. Still, Foreclosure.com offers more bang for your buck. It provides extensive foreclosure sale information and updates the entire database twice daily.

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How Foreclosure.com Compares

Wondering how Foreclosure.com compares to other foreclosure website competitors?

Is Foreclosure.com Legit?

It is — but don’t expect to search home foreclosures for free (at least after the seven-day free trial).

By providing access to real-time data, Foreclosure.com helps investors identify potential deals quickly and easily. In addition, the website provides access to a wide range of properties, which allows investors to choose from many investment opportunities.

For those with a little experience in the real estate industry, Foreclosure.com can be a great way to get started building a portfolio of investment properties. The website provides a comprehensive range of resources from detailed property listings to educational tools and articles.

Regardless of your experience level or financial goals, remember that investing in foreclosure properties carries real risks. Familiarize yourself with the local real estate market, research the properties you’re interested in, and be prepared to move quickly when a good deal presents itself.

All told, Foreclosure.com is a great place for both novice and experienced investors to find discounted homes for sale. With its comprehensive collection of resources and wide range of properties, Foreclosure.com can help investors make informed decisions and potentially uncover profitable deals.

Foreclosure.com Review Final Thoughts

If you’re looking for a simple, get-to-the-point site that can help you find distressed sellers in your area, you’ve found it with Foreclosure.com. While the monthly fee adds up over a year, those who plan to purchase multiple investment or rental properties in the year may find that the price is well worth it thanks to the robust database of homes.

Overall, Foreclosure.com is an excellent resource for those seeking to purchase a foreclosed property. Every time I had a question about a process or a listing, I was able to find the answer in minutes on the site. The wealth of educational material and helpful customer support to assist users throughout the process. While the platform’s look feels a little outdated, everything you actually need to know still exists within the listings.♦

Have you ever bought a home in foreclosure? Did you use Foreclosure.com? What kind of experience did you have?

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