Foreclosure Lists & Real Estate Investing Education | ForeclosureS.com

All Trustee Sale Notice Properties:
One to three weeks before the foreclosure auction we provide (in addition to the information from the default notice) the minimum bid, date, place and time of the sale. Click here to see a Free Sample, and then Select Your County of Interest. The minimum bid (which changes daily), date, time and place of sale should always be confirmed by calling the Trustee, the day before (or morning of) the trustee sale. We recommend only expert investors and researchers with a lot of cash buy at trustee sale auctions. Read more about this high risk vendor here. You need to have all the money for the minimum bid in the form of a cashiers check to qualify to bid. Loan approval letters are not accepted and it's very rare to find a lender to finance your auction purchase. You will not be able to fully examine the property's physical condition, or obtain title insurance. Conceded as the "easiest way" to buy foreclosures if you have cash, and don't want to talk to sellers — but not necessarily the best prices. To see what others are paying for houses at the Auctions in your area, read the most recent "Pirate Comps" here.

*All Real Estate Owned ("R.E.O.") Properties:
These are properties that have not been sold at the auction, but not to an outside bidder (like the "Pirate Comps"). These properties have reverted back to the foreclosing (public and private) lenders. (This data is not available to our Southern California counties, except for San Diego (three times a week only)). The R.E.O. stage is conceded to be the "quickest avenue" for foreclosure investing. Typically you get an outside lender or mortgage broker to "pre-qualify you" and make your offer either through the REO lenders listing agent, or to the REO lender directly. It is highly recommended that you contact the REO lender directly to make your deal, if it is not listed in your local MLS (Multiple Listing Service). Not all REOs are worth pursuing if you want a discount. Especially Government Repos. Generally speaking, the more work the house needs, the better price you will get.
*R.E.O. (real estate owned) data only available in all Northern California counties daily and San Diego county three times a week).

All Internet Listing Subscribers (Web or email) have access to our new data after Noon (on the day of publication) each day. If you do not have email or web access, when you order 100 Units or more, we can fax or mail you the list for an extra handling fee ($1.00 per day per area, in addition to our regular Unit Pricing). All FAX copies are sent between Noon and 5pm each day. All hard copies are mailed first class, Monday through Friday, five times a week. Mail users should receive your listings two-three days later, five times a week (if the postal service does its job :-)).
Want to see a free sample for your area?

In most cases the property owner is the "Trustor" and the property location is the "Property Address", along with a "Map It" button to the right, so you can see exactly where the property is located! If the property owners do not reside at the property in default, their mailing address is placed in the "Additional Information" field and the Property Address probably has tenants, or is vacant. If the current property owner has a listed phone number, you will also find it in the Additional Information field. (Click here to read more on how to find the owners phone number.)

If the property has been sold since the original Deed of Trust was recorded, the new owner will be listed in the "Current Owner" field. This person(s) would be the most current owner (not the Trustor as listed above the "Property Address"). This is an indication that the original deed of trust was "assumed" or the loans taken "subject to", and the current owner is in default on loans that are "not in his name". Therefore, always make sure you contact the "Current Owner". For ideas on how to do this, Click Here.

As a Foreclosures.com Subscriber, you don't have to use any of your own money when buying a foreclosure property under a contract of sale in California. Whether a defaulted property or an R.E.O. foreclosed property, just use the right contracts, and follow the instructions HERE to submit your deal information completed on our California Investor Summary Form.  Our California investors can supply all the money for your purchase and repairs, as long as you stick to our 70% maximum wholesale buying formula (to include all purchase and repair costs).

If you plan on investing at the Trustee Sale Auctions, you will need cash on hand. Please visit this Foreclosure Forecast article for more information. We recommend you have a minimum of $50,000, and extensive knowledge on how to research title at the county recorders, as well as how to estimate repairs (as you cannot get inside the property prior to bidding).

Your first step in effectively using your California Foreclosures Data listings should be to carefully study all accompanying literature. That includes your "How to Read Your List", "How to Use Your List" (this document), and the California Investors & Lenders Network equity lending information.

Also make sure you read all our past issues to the "Foreclosure Forecast ezine". There are a ton of helpful ideas waiting for you to use, totally FREE of charge, and easily indexed by "Author" so you can read all your favorite authors past columns.

If you need any further information, please visit our Learning pages. We have programs available from Beginner to Novice that will get you making profitable deals, quicker than by learning on the street of hard knocks.

We know the reason you are a Subscriber to our foreclosure lists, is so you "Don't Pay Retail" when you buy your next property. Therefore, you need an easy way to "find properties that have substantial EQUITY. The definition of Equity is the difference between "the amount owed on the property" versus "the current market value".

As a "Listing Subscriber" you will see every loan that is in foreclosure, with all the information we obtained from our public records research (which includes the original loan amount of the loan that is now in foreclosure). We have found the best way to find "great deals" on your list, is to first quickly determine the "current market value" of each house on the list.

As a FREE service to our Subscribing Members, we have provided a "Homegain Valuation" link on every property (Click here for more information on Homegain).

When you click on the "Homegain Link" you will see what the approximate market value is for that property in foreclosure. If you then divide the top "Homegain Valuation" by the "Loan in Foreclosure" (as found on your list), you can quickly determine if the property has enough equity for you to pursue it as a purchase.

For more help on how to do this, please read "Doing the Math Quickly and Easily" here.  

Notice of Default Properties:
You must contact the "Current Owner" (sometimes also the "Trustor". Please read How do you find the property location on the listing? Above). Contact the property owner as soon as you receive it, and continue to contact them every 2-3 weeks, for the best response. We include the property owners phone number when available, and when not, you will need to do a little extra work to find their phone number. Click here for more ideas. You may choose to also knock on their door, although this isn't for everybody. Be professional, yet un-intimidating. Remember, you buying their house is a win-win situation. The easiest approach (not necessarily the best way) is to ask the property owner by note or postcard if they may be interested in selling their house, as is, for cash in the near future. It is not recommended that you use the word "default" or "foreclosure". Ask the property owner to call you, collect if necessary. Keep all lines of communication open.
 You can learn how to do this now.

You can help the property owner save their credit and equity by offering to purchase their property, or by providing an additional secured loan (trust deed). Discuss all their options. Ask if there are any other loans and liens on the property. What is the current physical condition of the property? Set up a meeting to go through the property. If you choose to purchase their property, you will need to offer some amount of cash for their equity and back payments, and assume their existing loans.
  You can learn how to do this now.

Make sure your purchase agreement is contingent upon or "subject to" the liens, loans, etc. as listed in the purchase agreement, and it is the entire list of all encumbrances, the terms for repayment are accurate, and you have the right to approve or disapprove the current condition of all loans and title. Find out where to get the forms, and how to fill them out correctly.  Please read carefully the Civil Code 1695 and 2945 to learn how to make these unique California laws work for you. You will need to use an equity purchase agreement and notice of cancellation agreement on all non-owner occupied pre-foreclosure purchases. These forms are included at no charge with our Mastering Homestudy package.

If the property owners are not interested in selling or obtaining financing today, they may be in a few weeks (about 80% of all foreclosure properties will be available for sale within one year from the original notice of default). Continue your contact three, four or more times over the next few months. The key is to be sensitive, honest, and repetitive. They will most likely be motivated to sell many weeks or even months after your contact was made. You MUST keep your name and phone number in front of the owner during this entire period. This is the #1 reason many investors do not succeed in buying houses in default. They simply do not follow up!  Do not make this mistake!
 For more information click here

Notice of Trustee Sale Properties:
Even after the Notice of Trustee Sale has gone out, you may still buy the house from the current owner before the Trustee Sale Auction. Many subscribers have found this period as the best time to make your last offer to the homeowner in default. Don't be surprised, however, if this late in the game they seem unresponsive. Often times, folks simply walk from their house and their equity! So, take the time and try to find them before the auction.

If you have the cash, attend the trustee sale auction. Don't forget to contact the trustee for the minimum bid the morning of the auction, or see if it has been postponed. Don't expect much help, you are on your own. Please visit this Foreclosure Forecast article for more information. We recommend you have a minimum of $50,000, and extensive knowledge on how to research title at the county recorders, as well as how to estimate repairs (as you cannot get inside the property prior to bidding).

R.E.O. Properties:
You will need to contact the lender by phone, mail or email. Ask for the head of the R.E.O. Department, or request the name of the actual R.E.O. asset manager handling this property. Click Here to read a recent article on how to buy REO properties.

If you need a current list of over 319 R.E.O. Decision Makers, please visit "R.E.O. Key Contacts, Decision Makers List". The "R.E.O. Directory" is also a free bonus included with Mastering Homestudy program. Remember, only foreclosures.com guarantees not to miss a foreclosure, and has every newly recorded R.E.O. filing throughout Northern California (and San Diego 3 times a week).

One of the many advantages our Listing Subscribers have received is our extensive distressed real estate background. We are foreclosure experts. We know what information you need, how you need it and when you need it. As a Foreclosures.com Subscriber, you will receive superior service, and have email access to the owners of the company at no additional charge.

The research provided in our daily lists replicates hundreds of hours of weekly research. Money is made in the foreclosure markets by talking to property owners, not by doing research. Our Subscribers are able to spend their time making money, not researching public records.