With the recession of the economy, purchasing a new home (or other property), is a luxury few of us can afford. Many people are lucky to be able to pay rent and survive with the high cost of groceries needed to feed our families, much less have enough money to buy a real estate. So how do you go about finding real estate deals when the economy makes the cost of living so tough? Here are some tips to help you get started on owning your own place and/or land area.
Check with local banks to find out about foreclosures and houses put up for back taxes. Many banks are willing to sell real estate for far less than the original appraisal value because owners have defaulted on mortgage loans for property. Due to these defaults, banks keep a list of names and homes that they have up for sale, for cheap, before selling them over to state collections. Ask your local bank’s adviser or call around to various banks in your county to find out what listings exist for homes, land, and other property. You’ll be surprised at what you can find for cheap. You will likely discover that you can purchase real estate for a lot less than you originally thought.
Check with your county’s courthouse for tax records on real estate in your vicinity. The courthouse is required to keep all records of homes, property, and land that is up for back taxes. This means that real estate owners were unable to keep up with their school and property taxes and the state took away their homes because of it. Once real estate is put up for sale on back taxes, anyone is welcome to find out more information on it. You can request records on all houses that are up for back taxes simply by calling or visiting your local county courthouse. Just know that most property up for back taxes usually goes on auction for purchase and that you may have to go up against others who want the same real estate.
Check online for real estate that has been foreclosed on. When property is foreclosed on, it can be any home that is up for sheriff sale, lost on bankruptcy, up for state or county auction, has a tax lien against (back taxes), and/or up for pre-foreclosure (almost ready to go for sale). There are many online listings for foreclosed homes, property, and land on the Internet, but you must be careful which ones you choose. Most do cost a monthly fee, but should never be over $19.95 a month. And, you can find foreclosed real estate listings online that are free if you do some searching. Many real estate foreclosures do offer a free 7-10 day trial in which you could cancel after you get the real estate foreclosure list. See resource list below for links.
Search for real estate deals on eBay. A great way to find discounts on real estate is to look around on eBay. Using eBay, you can search by zip code, type of property, or city and state to find the property you are looking for. Many people sell real estate on eBay since it is one of the highest selling auction sites on the Internet. What’s nice about eBay is that you can feel free to ask sellers any questions you may have about real estate they have available. You can also schedule an appointment with a seller to see the property you’re interested in. Simply go to http://www.ebay.com and search for ‘home, land, or property’ and enter your zip code. You can also search for real estate using your favorite search engine and ‘typing in properties listed on eBay’ to be taken right to the property eBay home page. See resource list below for a link to eBay real estate deals.