• 1-888-662-1020
    English Español

How To Find Foreclosed Homes

  • Find out how to find not only foreclosures, but great buys.
  • Learn a few tips for buying with confidence.
  • Finally, learn to use Micoley.com as your resource for finding listings

Why Buy a Foreclosure?

So called “distressed” property is a major part of the real estate market. The part buyers love about buying them at auction is that they’re free of liens and other financial encumbrances. However, with Micoley.com auctions on foreclosure homes, the typical downside, not being able to inspect, is eliminated. In short, with regard to how to find foreclosed homes, the most reliable place is Micoley.com.

Once I Find Listings, Which One Should I Buy?

All too recently, buying a foreclosure home was easier than ever for novice buyers. Today, those who have good credit, and a strong chance of securing a good loan are still encouraged to jump into the world of foreclosure homes with both feet. The market may no longer be “bottomed out,” but there are still bargains to be found if you know the secrets of how to find foreclosure homes.

Shop for real estate in an area you’re familiar with to start. Having some familiarity with the market in one geographic area puts you at more of an advantage than you might think. There’s nothing wrong with using “it seems like a low price” as a reason to start gathering information.

Which Ones Should I Rule Out?

As you scroll through the many listings on Micoley.com, looking for a great, bargain prices, you’ll find that the opening bid amounts for the auctions are significantly lower than the seller’s initial asking price. Naturally the ones with starting prices out of your range can be ruled out. As a next step, you’ll need to start doing your due diligence.

Hiring an Inspector is a great, but totally optional way to find out exactly what repairs may or may not be needed.

Visit the neighborhood to learn more about the history of the home. Other homes in the area may be architecturally similar, and may offer you insight into the past and future condition of the property you’re considering. Talking to neighbors can be another great way to gain hidden insights.

Visit the home itself, and even if you don’t hire a professional inspector, this can be an excellent way to find out what work might need to be done. Calling a contractor and getting an estimate is often free, and can give you a rough guess as to what you’re about to spend on repairs.

Using Micoley.com to the Fullest

The majority of auction properties on Micoley.com do not last until the official auction date. Since Micoley’s auctions create urgency in the real estate market, finding a listing that seems to have your name on it means you should register and begin the process for making a prior-to-event offer as soon as possible. In addition to online registration, a great starting point for buyers is to simply call 1-888-745-4758. Unlike other online marketplaces, our phone staff is eager to receive calls, and will help you get started today.

Don’t Wait

Registering 48 hours in advance of an auction’s official starting date is the only way to make sure you’ll be able to bid. In each listing on Micoley.com, there is a “Bid” button in the upper left side of the page in the top menu. If you haven’t yet registered, the process is quick, and it will allow you even greater access to property information. Good luck!

Read the next answer – should I buy a foreclosed home?