Making the most of Colorado foreclosure listings allows you to buy a property well below market value. Foreclosure listings are used both by investors wishing to sell the property for a quick profit and business owners who want to use the property for their business.

Properties appear on Colorado foreclosure lists because the owner has missed some mortgage payments and is defaulting on the loan. The lender must file for foreclosure in order to collect on the remaining debt. This gives them the legal right to sell the property and it may then appear on a foreclosure listing. There are three points in the foreclosure process at which you may purchase a property:

1. The pre-foreclosure stage; the property will be foreclosed if the mortgage debt is not settled within a given amount of time.
2. The foreclosure auction; most Colorado foreclosure properties are sold at public auction because the lender only needs to recover the remaining debt instead of the property's full value.
3. Real Estate Owned (REO) property; REO property is owned by the lender and may be purchased before or after the auction.
   

Action Steps
The best contacts and resources to help you get it done

Learn about the laws on foreclosure listings in Colorado

Foreclosure laws vary by state and cover issues such as foreclosure notices, sales procedures and deficiency judgments. Most states allow for a judicial foreclosure which involves filing a lawsuit to obtain a court order to foreclose. Generally the property will be auctioned off to the highest bidder after the court declares a foreclosure.

I recommend: ForeclosureSelect.com provides a summary of the laws on foreclosures in Colorado. Foreclosure1 discusses non-judicial foreclosures in Colorado and also hosts a foreclosure blog.

Get more information on a Colorado foreclosure listing

Sites that have foreclosure lists often offer current news on foreclosures in Colorado. They may also offer other information such as a description of the foreclosure process or a FAQ on foreclosures

I recommend: Foreclosuredataonline offers a blog on foreclosures and foreclosure listings in Colorado by county. Foreclosure University has a blog and FAQ in addition to foreclosure listings.

Locate foreclosure properties in Colorado

Many websites allow you to search for Colorado foreclosures by specific location. These sites may also offer additional services to members such as email alerts and photographs of foreclosure properties.

I recommend: Foreclosure Data Bank offers foreclosure listings in Colorado by county and also hosts a variety of educational resources on foreclosures. Foreclosure-Support provides foreclosure listings by county with a clickable map of Colorado.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  Determine the market value of a property in Colorado foreclosure property. The best way to do this is to have it independently appraised by a professional. You will need to make arrangements with the current owner or trustee of the home for the appraiser to visit the property. You should then compare this appraisal to the value given by the party in charge of the sale.

Foreclosure properties in Colorado can be a cheap deal for real estate investors. When you can purchase Colorado foreclosure listings at 20 to 50% below market value, it’s definitely a positive. Whether you’re looking for a condo in Aspen, a townhome in Colorado Springs, or a bungalow on the outskirts of Denver, there are foreclosures in Colorado that will fit your needs.

It becomes frustrating when trying to find a good source for Colorado foreclosure listings. You find what you think is a great list of home foreclosures in Colorado, and then you see that it has a print date of 3 months ago. Or you might pay a good-sized membership fee for a site with foreclosure listings in Colorado only to find that it only lists 10 foreclosed homes in Colorado. But fear not, for there are good sources for foreclosure listings in Colorado out there.

When finding Colorado foreclosure property listings, among the key points to consider in your search are:

1. The freshness of the list of bank-owned property in Colorado;
2. The source of the Colorado foreclosure lists;
3. The cost to you for the list of foreclosures in Colorado.

Action Steps
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Select lists of Colorado foreclosures that are as fresh and updated as possible

Many, if not most, printed Colorado foreclosure listings are stale and outdated. The market for Colorado foreclosure properties changes every minute. Because of this constant refreshing that happens naturally in the marketplace, you need a source for your foreclosure properties in Colorado that constantly changes as well.

I recommend: RealtyStore.com not only offers a $1 week-long trial, but it also puts every Colorado foreclosure listing on its website through a 10-point quality check to ensure that it’s as up-to-date as possible. Registry Line offers a feed of Colorado foreclosure listings that is updated on a daily basis.

Use lists of foreclosures in Colorado only from sources you trust

When people hear that you're looking to buy property foreclosures in Colorado, they tend to have all kinds of advice for you. They have a friend that knows this, an uncle that does that, or maybe they've even tried it themselves and can give you a book that worked wonders for them. Always remember, if you don't know the source of the foreclosure listings in Colorado, then you can't know that your listings are really valid.

I recommend: HUDForeclosed.com boasts the largest registration of government foreclosure homes foreclosed in Colorado. AllHUD.net is another website offering a list of home foreclosures in Colorado, particularly HUD-backed loans.

Spend the bare minimum for a list of home foreclosures in Colorado

Many people erroneously think that you have to pay a small fortune to gain access to a quality source of Colorado foreclosure properties. This simply isn't true. A lot of good websites offer great introductory offers to give you access to their listings, allowing you to find the site that best works for you.

I recommend: Foreclosure.com offers a free seven-day trial period so that you can check their site. ForeclosureDeals.com offers a seven-day trial membership for just a few dollars.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  When you're looking at a possible deal on a Colorado foreclosure property, be sure to pull the tax records for neighboring properties to make sure that your new neighbors are in good standing and your property value isn't likely to tank immediately.

The primary purpose of Colorado foreclosure listings for beginners is to buy a property below the market value. Foreclosure listings can help a business owner locate an inexpensive property from which to run a business or can aid an investor who wishes to sell a property quickly for a profit.

Foreclosed homes in Colorado appear on a foreclosure list because the owner is defaulting on the loan. The lender must file for foreclosure in order to list the property in a foreclosure listing. Most foreclosure properties are sold at a public auction since the lender only needs to recover the remaining debt on the property instead of its full value. There are three general online sources of basic information on foreclosure listings:

1. Sites with listings of Colorado foreclosures. These sites usually have the ability to display only those properties that are in Colorado.
2. Sites of Realtors in Colorado. Some real estate agents specialize in foreclosure homes and may provide additional information for first time home buyers.
3. Sites with laws on Colorado foreclosures. These laws provide basic information on the foreclosure process in Colorado, such as deficiency judgments, foreclosure notices and sales procedures.
   

Action Steps
The best contacts and resources to help you get it done

Locate a list of property foreclosures in Colorado

Foreclosure listings are a great way to find out about the houses for sale in Colorado. Foreclosure listings include basic information about the property, such as the address and the broker's contact information. Many websites with foreclosure listings in Colorado also provide a FAQ or other basic information on foreclosures.

I recommend: Foreclosure Data Bank lists the locations, photos and prices of foreclosure properties in Colorado. Foreclosure Repos offers a table of foreclosures in Colorado, including the location, price and monthly payments.

Learn more about a Colorado foreclosure property from Realtors

Real estate agents frequently have foreclosure lists in Colorado and may provide general information on the foreclosure process. They also may offer news on foreclosures that is of special interest to first-time home buyers in Colorado.

I recommend: Carolyn Cathey Real Estate provides basic information on the foreclosure process in Colorado, which is helpful for beginners. Prudential Professional Realtors, Springs Real Estate Group provides foreclosure listings in Colorado and a summary of other real estate owned services.

Study the laws on foreclosures in Colorado

Foreclosure laws in Colorado are specific to that state and are subject to frequent change. Foreclosure laws also provide a description of the foreclosure process in Colorado, which is helpful to beginners. Colorado foreclosure laws generally allow the property to be auctioned off once the court declares a foreclosure.

I recommend: United States Foreclosure Law provides a summary of foreclosure laws in Colorado. American Foreclosure Specialists provides an overview of Colorado foreclosure laws, including a summary of how the foreclosure process in Colorado differs from many other states.