How to Find, Buy, and then Sell Foreclosures

Hello,
I've listed a step by step process for finding,buying,and listed resources for selling foreclosures.I did research online and in different Real Estate Investing guides, and am making it available to the group.

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ATTENTION--These sources are also listed in other places within this site--I'm listing them again for you here for ease of use--
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The real estate market is in constant flux,but it remains one of the smartest investments and wealth builders for the average person in today's society. Home prices are often out of reach for many,but those who are willing to do a little research can buy foreclosures at a discounted price.

You can follow these 8 steps:

FIRST

Locate distressed properties through state, local and government agencies (HUD, Fannie Mae, Freddie Mac and the Veterans Administration). You can also find properties through Internet subscription services such as ForeclosureListings.com, banks, credit unions and real estate agents who specialize in distressed properties (see Resources below). Most have designated representatives or departments that handle foreclosures.

SECOND

Contact the real estate agent or lender regarding the foreclosure you are interested in purchasing. He will have valuable information about the property, including the terms for pricing, down payments and possible interest rates.

THIRD

Inspect the property with a professional. Although this opportunity is not always available, when it is, have an inspector check for all defects that can affect the value of the investment.

FOURTH

Attend foreclosure auctions, which are constantly being held at sites all around the country. Before you go, you should have already viewed the list of homes that will be auctioned that day and visited the ones that interest you. You will also need to pay a deposit (usually 5 percent) by cash or cashier's check at the time of the sale. Locate nearby auctions at a site like USHomeAuction.com (see Resources below).

FIFTH

Evaluate the total cost associated with the property before you buy. In addition to the price of the property, you must also consider repairs, insurance, property taxes, liens and the amount you will be able to recoup either through the future sale or rental of the property.

SIXTH

Make an offer to the lender based on your analysis of all costs associated with the ownership of the property. You must also consider that other investors will likely be presenting offers. You should take care not to overpay for the desired property, while still making a competitive offer.

SEVENTH

Decide on how you will finance the property. In some cases, there will be on-site financing available and you will deal with designated lenders, or you will need to go to a bank, credit union or mortgage company for you loan. However, if you want to become a regular investor, it's a good idea to establish a business or personal line of credit that you can access immediately, as foreclosures are often "cash-only" deals, and time is of the essence.

EIGHTH

Make certain that property you want to buy has a clear chain of title. Many properties may have had liens placed on them for which you may be responsible. You can check the chain of title yourself by visiting the local county clerk's office and requesting the appropriate documents (fees may apply). However, in most cases, you should utilize the services of a title company, such as Nationwide, to investigate the possibility of liens.
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The following resources were found in the
TOTAL VIEW WEB TOOLS:

http://www.totalviewrealestate.com

--------------FIND IT--------------------

Auctions

* AuctionZip
http://www.auctionzip.com

* Alti Source Homes
http://www.altisourcehomes.com/

* Go Homing
http://www.gohoming.com/

* Hudson and Marshall
http://www.hudsonandmarshall.com

* RealtyBid
http://www.realtybid.com

* Real Estate Disposition Corporation - REDC
http://www.auction.com

* Williams and Williams
http://www.williamsauction.com

* National Auctioneers Association - Real Estate Auction
http://www.naarealestateauctions.com/consumer/index/mls

* Loopnet - (Search for distressed or Property Auctions)
http://www.loopnet.com

GOVERNMENT SPONSORED ENTERPRISES

* Home Steps by Freddie Mac
http://www.homesteps.com/rl03_auctions.htm

* Home Path by Fannie Mae (Search by State)
http://www.homepath.com/

* U.S. Department of Housing and Urban Development
http://portal.hud.gov/portal/page/portal/HUD/topics/hud_homes

* U.S. Department of Veteran Affairs
http://www.homeloans.va.gov/pm.htm

* U.S. Department of Veteran Affairs (VA) - (Listed Homes by State)
https://va.equator.com/index.cfm?

* FDIC Real Estate for Sale
http://www2.fdic.gov/drrore/

* IRS - Department of Treasury
http://www.treas.gov/auctions/irs/cat_Real7.htm

* Customs
http://www.treas.gov/auctions/treasury/rp/

* U.S. Marshall Service
http://www.justice.gov/marshals/assets/nsl.htm

* U.S. Department of Agriculture (USDA)
http://www.resales.usda.gov/

* U.S. General Services Administration (GSA)
https://propertydisposal.gsa.gov/ResourceCenter/PRHomePage/loadPRHomePag...

BANK AND MORTGAGE COMPANIES REO SITES

* Bank of America (Search by State)
http://bankofamerica.reo.com/search/propertysearch.aspx

* Bank Home Hub
http://www.bankhomehub.com/

* Branch Bankign & Trust (BB&T)
http://www.bbt.com/applications/specialassets/search.asp

* CitiMortgage
https://www.citimortgage.com/Mortgage/Oreo/SearchListing.do

* Compass Bank
https://www.bbvacompass.com/appforms/properties/index.jsp

* GMAC Mortgage
https://www.gmacmortgage.com/reo/search/index.htm

* Home Loan Investment Bank
http://www.hlibreo.com/

* HSBC
http://www.banking.us.hsbc.com/HICServlet?cmd_PropertySearchDefault=cmd_...

* JP Morgan Chase
https://servicing.chase.com/reo/property/FeaturedProperties

* M&T Bank
http://www.mandtreo.com/app.aspx?st=1&e=home

* OCWEN
http://www.ocwen.com/reo/home.cfm

* One West Bank
http://apps.indymacbank.com/Individuals/Realestate/Search.asp

* People´s United Bank
https://www.peoples.com/portal/site/peoples/menuitem.8367c521ed36e5baf5c...

* PNC Bank
http://www.realtyservices.pncbank.com/

* Regions Bank
http://realestate.regions.com/servlet/Ore/ForeclosedPropertySearch.jsp

* Sun Trust Mortgage
http://suntrust.res.net/

* US Bank
http://www.usbank.com/cgi_w/cfm/personal/products_and_services/reoProper...

* Virtual Bank
http://www.virtualbank.com/REO/REOList.aspx

* Wachovia Bank
http://reo.wachovia.com/

* Wells Fargo
http://www.pasreo.com/pasreo/public/propertySearch.do

* 21st Mortgage (Manufactured/Mobile Homes)
https://www.21stmortgage.com/web/21stSite.nsf/locating?OpenForm

PUBLIC DATA

* 411 Service
http://www.411.com/

* Anywho by At&T
http://www.anywho.com/

* Yellow Pages switchboard
http://www.switchboard.com/

* Zaba Search
http://www.zabasearch.com/

REO RESOURCES

* Free Foreclosure Database
http://www.freeforeclosuredatabase.com/

* NRT REO Experts LLC
http://www.reoexperts.net/

* REO Source
http://www.reosource.com/

* Taylor Bean
http://www.taylorbeanhomes.com/

RESOURCES FOR FINDING BANKS

* Finding a Lender by Zip Code - Source: The Wall Street Journal
http://graphicsweb.wsj.com/php/LENDING0310.html

* Other directories to locate local banks and credit unions:
http://www.anywho.com/

* http://www.yellowbook.com

* http://www.yellowpages.com/

REALTORS/MLS

* National Association of Realtors
http://www.realtor.com/

* Others:
http://hotpads.com/

* http://www.move.com/

* http://www.homes.com/

* http://www.homegain.com/

* http://www.homescout.com/

FOR SALE BY OWNERS (FSBOs)

* www.byowner.com/index.html

* www.owners.com/

* www.fsbo.com/

* www.10realty.com/

* www.allthelistings.com/

* www.craigslist.org

* www.forsalebyowner.com/

* www.fsbopublishers.org/

* www.fsbozone.com/

* www.homesbyowner.com/

* www.onlinerealtysales.com/

* www.postyourpad.com/

SOCIAL NETWORKS

* Dean Graziosi
www.deangraziosi.com

* Facebook
http://www.facebook.com/

* Linked In
http://www.linkedin.com/

* Real Estate Investing Clubs by State
http://www.reiclubdirectory.com/

* Twitter
http://twitter.com/

--------------LOCK IT UP-------------

Accounting

* The American Institute of Certified Public Accountants
http://www.aicpa.org/

* Directory of Accountants
http://accountantsworld.com/list/DirectoryList

* State CPA Society Directory
http://www.aicpa.org/yellow/ypascpa.htm

Credit Reporting Bureaus

* Equifax
http://www.equifax.com/home/en_us

* Experian
http://www.experian.com/

* Trans Union
http://www.transunion.com/

Hard Money Lenders

* 1st Bridge
http://www.1stbridge.com/

* 1st California Hard Money
http://1stcalhardmoney.com/

* 1st California Loans
https://www.1stcalifornialoans.com/

* 1st Quick Funding
http://www.1stquickfunding.com/

* Access Financial Group
http://www.accmtg.com/index.html

* Advance America Property and Finance
http://www.advanceamericaproperty.com/

* Apollo Financial
http://www.apollofinancialinc.com/

* Avatar Financial Group
http://www.avatarfinancial.com/

* Better Loans and Realty Group
http://www.betterloansandrealty.com/

* Black Mountain Capital
http://www.blackmountaincapital.com/

* Blue Water Funding
http://www.bluewaterfundingllc.com/

* Brookview Financial
http://www.brookviewfinancial.com/

* California Hard Money
http://www.californiahardmoney.biz/

* Capstone Funding
http://www.capstonefund.com/content/home.asp

* Coastal LaJolla Funding
http://www.coastallajollafunding.com/

* Crown Valley
http://www.crownvalleylending.com/

* DHLC Mortgage
http://www.dhlc.net/

* Equity Development Funding
http://www.equitydevelopmentcorp.com/

* Fairfield Financial Services
http://www.privatemoneysource.com/hard_lenders.php

* Fix Funding
http://www.fixfunding.com/

* Funding Partners
http://www.fundingpartners.com/

* Gelt Financial Corp
http://www.geltfinancial.com/

* Helvetica Group
http://helveticagroup.com/

* Investors Commercial Capital
http://www.icclends.com/

* Kennedy Funding
http://www.kennedyfunding.com/home.html

* Lending Associates
http://www.lendingassociates.net/

* Mager Capital
http://www.hardmoneydirect.com/

* Managed Mortgage Investment Fund
http://www.privatemortgagefinancing.com/

* Medici Financial
http://www.hardmoneytoday.com/

* Mercury Capital
http://www.mercurycapital.com/index.asp

* Met Capital Group
http://www.metcapitalgroup.com/

* Met Mortgage
http://www.metmtge.com/

* Metro Mortgage Investments
http://www.hardmoneymi.com/

* Onward Financial
http://www.onwardfinancial.com/

* Peachstone Capital
http://www.peachstonecapital.com/

* Red Brick Financial
http://www.redbrickfinancial.com/

* Rehab Funding
http://www.rehabfunding.com/

* San Jose Investments
http://sanjoseinvestment.com/default.asp?ID=2

* Sovereign Capital
http://www.sovereigncap.com/page/page/492634.htm

* Wallace Capital
http://www.wallace-capital.com/

* Wooden Nickel Funding
http://www.wnfunding.com/

* Zinc Financial
http://www.zincfinancial.net/

Mortgage Information and Finding banks in your area

* Bankrate.com
http://www.bankrate.com/

* Ditech
http://www.ditech.com/index.html

* E-loan
http://www.eloan.com/

* Quicken Loans
https://www.quickenloans.com/

* VA - U.S. Department of Veteran Affairs
http://www.homeloans.va.gov/

Legal Links

* American Bar Association
http://www.abanet.org/

* Attorney Finder
http://www.attorneyfinder.com/index.html

* Real Estate Lawyers
http://www.realestatelawyers.com/

* Foreclosure Laws by State
http://www.foreclosurelaw.org/

* Tax Professionals
http://www.taxprofessionals.com/

Resources for finding Banks in your area

* Finding a Lender by Zip Code - Source: The Wall Street Journal
http://graphicsweb.wsj.com/php/LENDING0310.html

* Other directories to locate local banks and credit unions:

http://www.anywho.com/

* http://www.yellowbook.com

* http://www.yellowpages.com/

----------SELL IT---------------

Classified listings

* Craigslist
www.craigslist.org

* eBay Classifieds (free listings)
http://www.ebayclassifieds.com/

* Find Newspapers by State
http://www.newslink.org/

* Newspapers of the world
http://www.onlinenewspapers.com/

* Newspapers by State
http://www.50states.com/news/

For Sale By Owner

* www.byowner.com/index.html

* www.owners.com/

* www.fsbo.com/

* www.10realty.com/

* www.allthelistings.com/

* www.craigslist.org

* www.forsalebyowner.com/

* www.fsbopublishers.org/

* www.fsbozone.com/

* www.homesbyowner.com/

* www.onlinerealtysales.com/

* www.postyourpad.com/

Email Marketing

* AWeber Communications
http://www.aweber.com/

* Constant Contact
http://cjaffiliate.constantcontact.com/index.jsp

* iContact
http://www.icontact.com/?cobrand=225458

Resources for creating ads

* Postlets
http://www.postlets.com/home.php

* VFlyer
http://www.vflyer.com/main/Guest.jsp

Social Networks

* Dean Graziosi
www.deangraziosi.com

* Facebook
http://www.facebook.com/

* Linked In
http://www.linkedin.com/

* Real Estate Investing Clubs by State
http://www.reiclubdirectory.com/

* Twitter
http://twitter.com/

I sincerely hope the aforementioned information helps you out.Like I said, I've researched this and compiled all this info from other sites and listed them here for easy access for the group.