Government agencies often sell foreclosed homes that were backed by federal loans (like FHA). These are often better for first-time buyers because they may offer special programs.
These platforms are the most comprehensive for general searching, often aggregating data from multiple sources: best place to buy foreclosures
: A major industry player that tracks properties through every stage of the foreclosure process. Government agencies often sell foreclosed homes that were
When a property fails to sell at auction, the bank takes ownership. These are called properties. You can find them on the banks' own real estate centers: When a property fails to sell at auction,
: Searching for "Notice of Default" filings in public records allows you to find pre-foreclosures before they hit the open market. Comparison of Foreclosure Buying Methods Risk Level Ease of Purchase Auction Courthouse / Auction.com High (Cash only, sight unseen) REO (Bank) Bank Websites / MLS Moderate (Sold "as-is" but title is clear) Gov-Owned HUD / Fannie Mae Low (Priority for residents) Pre-Foreclosure Public Records Varies (Requires negotiating with owner) How to buy a foreclosed home - Bank of America Foreclosures