Advantages of Foreclosure.com Subscription
Foreclosure.com talks a big game, claiming the title of the largest marketplace of foreclosed homes. And they mostly live up to their boasts. Advantages to Foreclosure.com include:
- Comprehensive Database: One of the top features that scores well in our Foreclosure.com review is it provides an extensive and up-to-date database of foreclosed properties, including mortgage records, price range, type of properties, and more, making it easy to find the bargain house of your dreams.
- Easy to Use: The site’s intuitive design ensures that searching for foreclosure is simple, quick, and user-friendly. This also makes it easier for landlords to sell the property.
- Low Cost: Foreclosure.com offers a low-cost subscription model with access to the latest foreclosure listings and invaluable resources such as foreclosure statutes and related news.
- Reliable Resources: Foreclosure.com provides users with reliable resources and support to help them through foreclosure.
Downsides of Foreclosure.com
No Foreclosure.com review is complete without talking about cons. While the platform can be vital for real estate investors looking for low-cost homes, it’s not perfect. A few downsides to Foreclosure.com include:
- Lack of Access to Detailed Tenant Information: Foreclosure.com does not provide access to detailed tenant information. Granted, lease agreements between property owners and renters are not on public record.
- Potential for Missed Properties: Foreclosure.com assimilates data from many sources, but that doesn’t mean they catch every distressed property in a given market.
- It Costs Money: Free services allow you to look through foreclosed listings for free, and Foreclosure.com isn’t one of them, at least not in the long term. Still, Foreclosure.com offers more bang for your buck. It provides extensive foreclosure sale information and updates the entire database twice daily.
How Foreclosure.com Compares
Wondering how Foreclosure.com compares to other foreclosure website competitors?
Websites | ||||
Min. Investment | Earnest money: varies based on property cost | Varies by property cost | Varies by property cost | None, you cannot purchase foreclosed homes through Zillow, only browse. |
Fees | $39.80/month | $49.60/month | Free to sign up | Free |
Property Types | Bank-owned homes, government foreclosures, pre-foreclosure listings, foreclosure auctions, and more. | Foreclosures, pre-foreclosures, bank-owned homes, auctions | Short-sales, foreclosures, regular properties on the open market | Pre-foreclosures, foreclosure auctions, and bank-owned properties |
Year Founded | 1999 | 1996 | 2003 | 2006 |
FAQs
Is Foreclosure.com Legit?
Yes, Foreclosure.com is a legitimate platform for investing in discounted real estate, though access to full listings requires a paid membership after the 7-day free trial.
For both first-time investors and seasoned experts, they provide comprehensive, real-time data to identify promising investment properties. You can filter large inventory spanning pre-foreclosure, repossess, auction and auction dates, and bank-owned homes to pinpoint options matching your buying criteria.
While risks exist when purchasing distressed assets sight unseen, their robust tools can promote informed decisions, like estimating repairs or reading market trends. Investors or real estate agents can gain an edge by seeing deals earlier than on MLS and leveraging educational resources to evaluate real estate deals.
Still, conduct due diligence like touring homes and consulting professionals to maximize investment returns.
Do Banks Hate Foreclosure?
Yes. Banks lose money when foreclosing. They usually sell foreclosed homes at a loss compared to the original mortgage loan amount.
What Is The Best Alternative To Foreclosure?
Forbearance agreements. They temporarily pause mortgage payments, buying you time to get your finances in order. If you meet the terms, the lender cannot foreclose.
What Exactly Is a Short Sale?
A short sale is when a lender accepts less than what is owed on a mortgage to let a financially struggling homeowner sell their property. The lender writes off the remaining loan balance.
Who Has The Most Foreclosures?
Among large metro areas, those with the highest foreclosure rates in January 2024 were Spartanburg, SC, Columbia, SC and Cleveland, OH.
Foreclosure.com Review: Is It Worth It?
So that’s it for our Foreclosure.com review!If you’re looking for a simple, get-to-the-point site to help you find distressed sellers in your area, you’ve found it with Foreclosure.com. While the monthly fee adds up over a year, those planning to purchase multiple investment or rental properties in the year may find the price well worth it, thanks to the robust database of homes.
Overall, Foreclosure.com is an excellent resource for those seeking to purchase a foreclosed property. Every time I had a question about a process or a listing, I was able to find the answer in minutes on the site. The wealth of educational material and helpful customer support to assist users throughout the process. While the platform’s look feels a little outdated, everything you actually need to know still exists within the listings.♦
Have you ever bought a home in foreclosure? Did you use Foreclosure.com? What kind of experience did you have?
