PRE-FORECLOSURE LIST: Ways to Find Pre-foreclosure Listings

A logical strategy to locate a deal on a rental property is to choose to purchase a home that is about to go into foreclosure. For buyers and investors, pre-foreclosures present a special and worthwhile opportunity to perhaps purchase a home below market value. Knowing where to hunt for a house in pre-foreclosure and locating it before rivals who have a similar concept are the challenging parts, too. In Harris County, Texas, there are several ways to locate a pre-foreclosure list for free while there are many paid tools that can assist you in finding these properties. But let’s first look at the fundamentals before we delve further into these resources.

What is Pre-foreclosure?

Pre-foreclosure, according to Investopedia, is the first stage of a legal process that may ultimately end in a homeowner who has defaulted on their mortgage having their property repossessed. Pre-foreclosure indicates that the lender is starting to take action since the homeowner has fallen behind on their payments. The foreclosure process may have been formally started by the lender by serving a notice of default or by filing a lawsuit, but the foreclosure auction has not yet taken place.

The homeowner often has a set length of time during this pre-foreclosure period to attempt to make up late payments, sell the home to pay off the loan, or negotiate an option with the lender, such as a short sale, mortgage modification, or transfer instead of foreclosure.

What is the Difference Between Foreclosure and Pre-Foreclosure?

Pre-foreclosure does not happen unless the bank decides to reclaim your property, which is the main distinction between the two. The lender will typically try to sell your property at a public auction because they need the money. You typically determine the opening offer by the mortgage, liens, taxes, and sale expenses related to the property. The winning bidder (or the buyer most likely to close) will ultimately receive your house and take possession right away.

Pre-foreclosure is the period between receiving a notice of mortgage payment delinquency and losing your home to your lender or a buyer. You won’t have to worry about your credit score or getting a future mortgage if you can sell your house during pre-foreclosure. With a cash buyer, the procedure is extremely quick and there is no financing required.

Free Pre-Foreclosure List

A wise strategy to locate a good price on an investment property is to buy a house that is being foreclosed on. But to locate that gem in the rough before another investor does, you must know where to look. In Harris County, Texas, many paid sites can assist you in finding a pre-foreclosure list for free, but there are also many free methods to locate these properties.

Here are a few typical methods for finding a free pre-foreclosure list in Harris County, Texas. Here are some of the best resources you can utilize to find a list of pre-foreclosures in your area:

Foreclosure.com
Preforeclosure.com
Realty TRAC
FlipScout
REDEX
Zillow
List Source
Property Shark

How to Get Pre Foreclosure List

Preforeclosure occurs when homeowners fall behind on their mortgage payments. At this point, they can decide whether to sell the property, keep it, or go through with a short sale. This makes buying a home during a preforeclosure a good opportunity for buyers and investors to get a deal on a property or for real estate brokers to get a listing. You can buy leads, look through the MLS and local directories, or ask for recommendations to discover a pre-foreclosure list for free.

With REDX, you may find pre-foreclosure leads, FSBO (For Sale by Owner), and expired leads in one of the most efficient and time-saving ways possible. Preforeclosure property data for your county is available from REDX for $39.99 per month. To offer you an edge over the competition, it will incorporate hard-to-get homeowner contact information and organize it in a database.

Try any one of these eight techniques to start getting a free Harris County pre-foreclosure list:

#1. Get pre-foreclosure leads online

Buying pre-foreclosure leads online is one of the simplest ways to purchase a foreclosed home. Some lead sources routinely deliver fresh leads to your inbox, enabling you to start marketing to prospects right away rather than waiting hours or even days to get in touch.

#2. The local MLS

The Multiple Listing Service (MLS) is one of the most sensible areas to start locating and creating real estate leads. Only real estate agents have access to the Multiple Listing Service (MLS), a local database of homes for sale. The most trustworthy source of information is frequently your local MLS, which can assist you in finding a list of active foreclosures and pre-foreclosures as well as comprehensive property details.

#3. Online directories

You can get a foreclosure and pre-foreclosure list by using online directories, which provide a wealth of information on houses in your neighborhood. Additionally, directories contain filtering features that make it simpler to browse possible entries and identify the most pertinent information.

Even though directories are important for real estate professionals, they are best for real estate investors just beginning their search for pre-foreclosure listings because they can be accessed instantaneously from any device with the least amount of effort and without a real estate license.

#4. Public Records

You can access a pre-foreclosure list for free online or in the public records department of your county recorder’s office. Look for Lis Pendens, Notice of Sale, and Notice of Default. During the foreclosure process, these notices are given to the homeowner and publicly recorded.

#5. Local newspapers

The addresses of houses that are in any stage of the foreclosure procedure are published in local publications. The homeowner will get notices of foreclosure after the pre-foreclosure procedure starts, including “Lis Pendens,” which is also printed in the legal section of the newspaper.

#6. Real estate attorneys and wholesalers

You can find a pre-foreclosure list in Harris County for free in several methods without actively searching through data and properties. You can establish beneficial relationships with specialized experts who routinely interact with preforeclosure leads, such as real estate attorneys and wholesalers, rather than manually looking through data.

#7. Real estate referrals

The best strategy to generate leads and establish a reputation in the real estate market as a whole is through networking. You’ll be more successful in real estate, whether you’re a buyer, investor, or agent if you have more relationships. The National Association of Realtors (NAR) reports that 68% of property sellers locate their listing agent via a personal recommendation. You can find prospective pre-foreclosure listings through the many other friends, family members, and acquaintances you most likely have.

#8. Pre-foreclosure listing prospecting letters

There are countless ways to get in touch with investment leads and foreclosed homeowners in the realm of Internet communication. Although sending letters to people may seem laborious, boring, or old-fashioned, it can be a highly successful technique for foreclosures. It is quite challenging to address recipients of internet adverts or communications with empathy and compassion given that they are not in their circumstances because of choice.

Pre Foreclosure List Texas

Pre-foreclosure sales essentially take place when a property owner has fallen behind on their mortgage payments and wants to prevent foreclosure. A Notice of Sale (NOS), a Lis Pendens, or a Notice of Default (NOD) may be sent to such a homeowner. In Harris County, Texas, realtors, the neighborhood newspaper, online directories, wholesalers of real estate, lawyers, and public records are some of the places where investors can find a pre-foreclosure list for free.

Homebuyers in Harris County, Texas have the chance to find discounted real estate before it is formally posted for sale and to get such investment property or a new home at a fantastic price thanks to a free pre-foreclosure list. The pre-foreclosure will be listed on the current Texas pre-foreclosure list whether it is a Lis Pendens or a Notice of Default.

These residences can frequently be listed for a short sale as well. Pre-foreclosures are typically not always accessible for sale or occupancy, but by taking advantage of them early in the foreclosure process, cheap house purchasers have an advantage over rivals looking to purchase a discounted home in Texas.

The ideal time to buy a property in Texas is typically while it is in the foreclosure process. Many homes are purchased during this time, which is why our readers can join up for a free trial on a website that provides a comprehensive and reliable pre-foreclosure list for Harris County, Texas.

How to Buy a Texas Pre-Foreclosure List

You can purchase a pre-foreclosure that you locate online in several different methods.

You could speak with the home’s owner directly. You can sign up for a free trial as a new reader or subscriber, following which you will receive access to a pre-foreclosure list and the owner’s contact information from the website. You might ask the owner to schedule a time for you to see such a property and go through the possibility of purchasing it.
You can get in touch with a broker or agent because they searched your neighborhood for the best professionals who can assist you in buying Texas pre-foreclosure list real estate.
You can get in touch with a real estate agent online. Any property listed with a real estate agent means the agent is aware of the sellers’ circumstances and will be able to give you detailed property information, including photos and the price, square footage, and taxes owed.

There would be significantly more competition and higher pricing to meet the lender’s legal costs if you choose to wait until the public foreclosure auction sale or beyond. This also entails selling the asset at auction to the highest bidder.

You will have access to hundreds of pre-foreclosure lists, including Texas Notice of Default Listings, Texas Notice of Trustee Sale Listings, and Texas Pre-foreclosure Listings, as well as the contact details of the agent listed next to each listed property. Additionally, you get to work with professionals who can assist you in navigating the full sales process.

How Do I Find Foreclosure Listings in My Area for Free?

Free websites with foreclosure listings

HomePath.com.
HomeSteps.com.
Zillow Foreclosure Center.
Realtor.com Foreclosures.

Does Pre-foreclosure Hurt Your Credit?

Pre-foreclosure won’t impact your credit as much as a foreclosure, it will still hurt your credit. Your payment history, whether current or past due, generally accounts for a sizable portion of your credit score.

How to Buy a Pre-foreclosure in Florida?

Either you can get a loan or pay cash to purchase the property. Before making an offer on a house, if you require a loan, you should locate a reputable lender who can give you a pre-approval letter.

What Does EMV Mean on a Foreclosure?

EMV stands for “Estimated Market Value.” It represents the market worth of the home as determined by the bank or mortgage holder. It’s the sum of money that they desire.

What Does Pre-Foreclosure Nod Mean?

The official notification (which can be a letter) that the lender delivers to the borrower in a nonjudicial foreclosure letting him know that the lender plans to foreclose because he hasn’t made his payments is known as a Notice of Default (NOD).

What Triggers Foreclosure?

Lenders typically start the foreclosure process three to six months after you miss your first mortgage payment. You can receive a “Demand Letter” or “Notice to Accelerate” asking for payment within 30 days after three months of missed payments.

Conclusion

There are many various places to find a pre-foreclosure list for free in Harris County, Texas, including the MLS, online directories, real estate recommendations, and public records. Even though it might need more work than a standard property listing, there is the opportunity to earn a sizable profit, differentiate yourself from competitors, and focus on a particular area of real estate.

PRE-FORECLOSURE LIST: Ways to Find Pre-foreclosure Listings – Guide

Table of Contents Hide

What is Pre-foreclosure?

What is the Difference Between Foreclosure and Pre-Foreclosure?

Free Pre-Foreclosure List