Can you Really Search Forclosures for Free?
Jul 28, 2009
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There's a piece of me that enjoys researching investment opportunities. I especially find myself delving into short term investments with quick turn over possibilities. These types of investments usually require a bit of capital - but the return can be substantial if you play your cards right.
One type of investment that has always been difficult to get into is the bank owned forclosure market. I know for a fact that banks loose money for every day a foreclosed home sits on the market. So why is it so difficult to find foreclosure listings? Well first - where can you find free foreclosure listings? Most directories charge a fee and then once you enter it's difficult to find recent properties for sale.
Well until now - banks and lender institutions didn't have a way to list their properties in one central portal. For example - Wells Fargo, Bank of America and CountryWide may have 1000's of real forclosed bank owned properties on their hands, but because they are separate entities, they push the listings to investor portals or to their own members. There has never been one centralized location.
ZooLender.com is a really cool website however, that has changed the bank owned foreclosure listing game. They are allowing banks, real estate agents and lenders the ability to list their properties on one website for less then it normally costs for a regular MLS listing. The good news is that now all the homes, autos and other bank owned items are all on the same website and in the same market.The benefit is that all the lenders and banks now can actually work together by creating exposure for each other for interested buyers or investors.
And best of all....yes it's free to use. In the past investors had to purchase forclosure listings but now foreclosure listings are free to view! I'm in.
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