Saturday, April 27, 2013

How to Find Foreclosures on Zillow?

Where Can I Find Pre-Foreclosures?
To find possible pre-foreclosures in your area, enter your search area on Zillow, then click "Filter" and choose "Pre-foreclosure" under the "Pre-Market" area. Pre-foreclosure information is free after you register with a free account.

Be aware that a home listed under the pre-foreclosure category is a home that is not necessarily for sale. But, since the homeowner is in default on his loan, the owner may welcome an opportunity to find a qualified buyer help him avoid possible foreclosure. Also, the home could be scheduled for foreclosure auction under this category.

Where Can I Find Listings for Foreclosure Auctions?
Zillow offers listings for each stage of foreclosure: pre-foreclosure, foreclosure auctions and bank-owned listings. To find listings for foreclosure auctions, enter your search area on Zillow, then click "Filter" and choose "Pre-foreclosure" under the "Pre-Market" area. Foreclosure auctions will be listed in the pre-foreclosure section. Pre-foreclosure information is free after you register with a free account.

Where Can I Find Listings for Bank-Owned Properties (REOs)?
There are several ways to find bank-owned properties:

•MLS - Most lenders list their REO properties on the Multiple Listing Service (MLS), so any agent can help you identify REO offerings in your area.
•Bank websites - Some banks have an entire department set up to sell REOs, and sections of their websites are dedicated to their listings.
•Online specialists - Zillow has foreclosure listings, for free. You can find foreclosure properties by using search filters on Zillow's search and maps page. To find listings for bank-owned properties, enter your search area on Zillow, then click "Filter" and choose "Foreclosures" under the "For Sale" area. Full foreclosure listing information is free after you register with a free account.
How Can I Be First to Know When a Property is Listed as a Pre-foreclosure, or is Going to Auction or is Foreclosed?
Zillow offers a "Property Alert" email which will notify you when a property's status changes (e.g., goes into pre-foreclosure, is scheduled to go to foreclosure auction or is foreclosed). By getting a Property Alert email about a home, you will know very early in the process about a home that you are interested in. To create a Property Alert, go to any home details page, select "Get Updates" and click "Property Alert."