Anyone use foreclosure.com?

[N/A N/A]

Curious if anyone on here uses Foreclosure.com in any consistency to find potential investment properties. Is it worth the $40/month or am I better off just getting info from local data sources? Any input would be appreciated.

[Account Closed]

Get the info locally. Most websites where you pay a monthly fee will have stale data compared to the local sources.

A title company can provide the info for no charge. The customer service department is where to ask. Title companies provide the info so that you will bring them deals when you want to close a transaction.

At least this is how title companies work where escrows are closed by escrow agents and not lawyers.

John Corey

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I have always heard that title companies would provide that info, but why would they have it. Where I live you can pay $1.50 at the courthouse and get the leads each week or month however often you want to do it, but it still takes me time.

Best Wishes,

[N/A N/A]

I have used foreclosure.com before and the information there was more current than some of the other well known sites, but must agree with John - get the information locally if possible. There is a web service for New Jersey Lis Pendens information which is cheaper than the other sites and is updated daily.

[N/A N/A]

Originally posted by "REI":
A title company can provide the info for no charge.
John Corey

What kinda info are you referring to that I can get from title companies? Are you saying title companies will give me leads (aka addresses) on potential properties in foreclosure, etc? That would be great. Thanx.

[Account Closed]

I have not used Foreclosures.com, but I do use a list service that is more local to me here in Chicago. There are some that have very stale information so just keep an eye on that.

I just have to say that if it is only $40/month you would pay that in your time, energy, gas, etc to get to the recorder of deeds to research that information yourself. If you get one deal out of it in a year, will you pay back the $480 it costs annually?

[Robert Hughes]

Originally posted by jaschoenly:
Where I live you can pay $1.50 at the courthouse and get the leads each week or month however often you want to do it, but it still takes me time.

I am new to real estate investing and I was wondering if you could tell me who I would have to speak to in the courthouse and what to ask for when I go? Thanks.

[Account Closed]

I've never used forclosure.com, but I have found foreclosures in my area (San Diego & Los Angeles) for free just by doing searches online.

-Philip

[Jon Holdman]

Originally posted by BobNY:

I am new to real estate investing and I was wondering if you could tell me who I would have to speak to in the courthouse and what to ask for when I go? Thanks.

Varies a little by the area, but typically the "county clerk" or "county recorder". If there's some sort of receptionist at the courthouse, tell them what you want, and ask where. If not, look for one of those offices, or something similar. Try the "assessor". Almost certainly not the right office, but they can send you to the right one.

Also, try our county offices list. Some counties have information online.

[Daniel Kirkpatrick]

you really want to get the information on the property before it goes into the foreclosure stage, in other words-when the loan first becomes defaulted on,

I have never used those sites because by the time it is listed, the home owner has already been contacted by tons of investors.

[Mark B]

Originally posted by Daniel N/A:
you really want to get the information on the property before it goes into the foreclosure stage, in other words-when the loan first becomes defaulted on.

Thanks for this tip. I agree. Can you tell me some of your methods for finding properties pre-foreclosure?
Thanks,
Mark

[Chris T.]

What type of data can you get from the title company and why do you get it? How do you use the data?

[Rob Lawrence]

They just get the info from somewhere else anyway. You are better of getting it yourself.

[Dwight (Matt) Mathews]

Believe it or not! Your best source of leads,and resources will be through establishing a networking relationship with a Buyer Agent/Investor who specializes in working with Investors. We are hard to find but we're out there. Interview a few and make sure they also are not only Investors but they know how to perform due-diligence and have the knowledge and experience to evaluate your deals. If all they know how to do is send you MLS listings-Forget It! Tell them what you need and want. Put them in the transaction on the buy/sell and you'll have a partner/friend for life. Once you find me-never let me go!!

Matt Mathews
Buyer Agent/Investment Advisor
Mathews Associates LLC