If you are looking to find foreclosed homes, the easiest way is to get in touch with your realtor so they can send you a Hot Sheet with foreclosed homes. The reason that it is easiest, is that there really isn’t a website that has a good search feature, and on these websites if they are asking you to register to get that Hot List, it is just a way to get your contact information.
Right now (4/21/2020) in Salt Lake and Utah County there are only 10 bank owned, or HUD owned homes currently on the market. The reason that there are so few is because when people run into hard times, they usually have enough equity to potentially sell the home before they lose it to a foreclosure process.
The actual name of a foreclosure home is a bank owned home or a HUD home. If you want a HUD home specifically, there is a website chttps://www.hudhomestore.com/Home/Index.aspx and here you can search all the HUD homes nationwide. You can’t bid on them without a realtor to bid for you, so you’ll need your own realtor. They aren’t very common, so if you are looking for a good deal there are other ways to find a good deal besides buying foreclosed homes.
Finding those good deals takes someone that is experienced in the market to help you, because when they pop up they typically go fast. Sometimes I find deals off market through what are called “whole sellers” and these are people who market and look for potential sellers who need to sell their home quick and they give them a cash offer, then they take that offer and sell it to someone else. Depending on your scenario and what you are looking for we could possibly find a deal for you that way. The deal market is very competitive so typically you do have to have cash if you are going to play in the whole sale market, there is something called hard money, but you can only do that if you are planning on not moving into it and using it as an investment.
There are lots of different ways to invest in real estate, but if you are looking for a good deal feel free to reach out to me here I would love to help you find your next home.
