Finding government-owned homes

Buying a Government Owned Home can be a great opportunity to find the right home for you at the right price. The government often repossesses properties when the previous owner defaults on the loan. Thus, it is in the government's interest to sell the home quickly for the best possible price.
If you are considering purchasing a government-owned home, here are some helpful resources to start your search.

Your real estate agent

Your agent knows about your market and special opportunities that may exist there. For example, they can advise you regarding distressed, foreclosed or government-owned properties and whether any exist in your neighborhoods of interest. If you find a property that meets your needs, your real estate agent will then help you through the paperwork and the auction process.

Online

Certain real estate Web sites provide foreclosure listings for free. However, you should be cautious about the accuracy of the foreclosure information you receive during your home-search process. Ask your real estate agent to confirm the property is indeed under foreclosure and still available for purchase.

Newspapers

All foreclosures are publicly listed - either in the local newspaper or special Web sites.

Government listings

County government offices, such as the County Clerk, Tax Assessor, and the Recorder's office, can provide information related to government foreclosure property. Since government foreclosures are a matter of public record, finding information on to them should be fairly easy.

If you find a listing or two that you are interested in, consider hiring an inspector to assess the status of the home and property, and estimate what the cost for needed repairs are, if any. It is important to know the condition of the property before you can offer a reasonable bid price.

As real estate values tend to rise over time, a government-owned home may be a great investment for you. However, you always need to be cautious about the foreclosure information you are getting, so having your real estate agent there to guide you through the process is always a good idea. With the right approach and due diligence, your dream home can be found.


Home Buyers Marketing II, Inc. is a National real estate brokerage services company. Providing FREE online home search services to home buyers and sellers. For more information about Government Owned Homes go to http://www.greatrealestate.com