Forclosure.com

[Adam T. Veitenheimer]

I would imagine that BP wouldn't offer forclosure.com on their site if it wasn't a valuable resource. However I wanted to see what people who have used it think about it personally.

Such as is the price worth the value it forclosure.com brings? What are your experiences with forclosure.com? What are the negatives about the site? Etc. 

Any info would be greatly appreciated!

Thanks in Advance!

[Mike Sedlacek]

You really have to do due diligence on these homes. You have to drive the neighborhood and view the homes there. I did just that yesterday on two homes that I felt where worth pursuing until I actually saw the home and the surrounding homes. The amount of money I would have to put into the foreclosed house wouldn't give me a large enough return for a fix and flip to make it worth my while. So I past on them. 

To me the reserve price on these foreclosed homes I found them to be to high. I usually wait 5 months and keep watch then if I feel they were worth pursuing I would low ball an offer Three times over the next 3 months and if they didn't take the offer by then I would just drop it or maybe try again 6 months down the road if they are still available. If they haven't sold there is a serious reason something about the property.