Using Connecticut foreclosure listings to find the best deals is a process that includes sifting through many old or useless listings of properties. Look for a good foreclosure website that offers advanced search options to narrow your options quickly and easily, then follow-up with research into the particular areas that most interest you.

Break your search down by either location or property type when searching a list of Connecticut real estate foreclosures. If you know where you want to relocate or invest in property, start your search within that specific area. If you’re open to several areas, but need a specific property type, keep your area search field open and specify the property type. To keep your foreclosure property search easy, you should:

1. Put a checklist together that includes the type of business property you need, specifying location options, property type and any other options you need.

2. Use an online Connecticut foreclosure listings website to search for properties either by region or by property type.

3. Hire a licensed Realtor for help looking for the right foreclosure listing. Connecticut real estate agents can provide tips about the properties in your specific search area.

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

Use online foreclosure listings in Connecticut to start your property search

Find a few different foreclosure websites to use in your search. Look for search options or websites that offer free trial memberships to make sure they list all the foreclosure information you need to narrow down your search. Look for listings that include property values, sales data, loan information, local property comparisons, mapping features, photographs and e-mail notification of future foreclosures.

I recommend: When looking for a foreclosure, Connecticut property websites like Prudential Connecticut Realty can help in your search for real estate owned properties. Use the Connecticut search at Homes.com to find a foreclosure property.

Use all available search options to find the right foreclosure listing in Connecticut

Once you've found a few good websites to use, you'll want to search for the type of Connecticut foreclosure property listing you want. Begin your search in a specific area, or search several areas in Connecticut to find a specific property type.

I recommend: Use CTClix.com to find Connecticut foreclosures, whether home or business property. Use the Coldwell Banker Connecticut website to find a Realtor that specializes in foreclosures in your area. Using the services of an experienced Realtor when considering foreclosures is one of the best ways to use foreclosure listings in Connecticut to your advantage.

Get help checking on all foreclosures in Connecticut by using all possible research methods

Once you've found a few CT foreclosures that look interesting, you have to move quickly to secure a good purchase price. If the property is a pre-foreclosure, you'll need to deal with the current owner. Be careful when contacting the owner since sometimes they don't know the property is on a pre-foreclosure list. If you play your cards right, you may get a great property at an even better price if the owner is looking to sell and pay off the mortgage for which he is defaulting. When properties have already foreclosed, you'll want to contact the bank or Realtor listed as owner to view the property and negotiate a price.

I recommend: Find a professional to help you get the best deal possible on your foreclosure properties in CT. Contact the Connecticut Association of Realtors to find someone in your area to help you buy a foreclosed property from the listings you've considered. Find information about the communities in Connecticut including demographics, business and community information at William Pitt Sutheby's International Realty so you can fully research the foreclosed property you've decided upon.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  The worse the housing market is, the larger the listing of Connecticut house foreclosures and commercial property foreclosures will be. If you're open to different areas or even a different state, find a housing market in a major slump and you'll find a jackpot of foreclosures.

Connecticut ranks high on the list of state foreclosures. Discount pricing for homes and land ranges from urban centers to the beautiful countryside. Each foreclosure listing in Connecticut provides opportunity for the investor. The majority of home foreclosures in Connecticut begin when a lender files court proceedings due to the borrower's default on a mortgage.

Search by category. For a specific foreclosure listing, Connecticut, companies may provide the information free or charge a nominal fee. Other possibilities include bank owned real estate, auctions and pre-foreclosures. Many people place their homes up for sale in pre-foreclosure, before the court files a case. This provides advantages for both the buyer and the seller who wants to get out from under the mortgage before a legal foreclosure. Searching for the right property requires time to investigate potential liens and calculate the total cost.

When searching for a foreclosure listing, Connecticut is no different than any other state. Determine your maximum price allocation, desired property features and location. Then look into the categories:

1. Find a foreclosure listing in Connecticut with pre-foreclosure offerings.

2. Find Connecticut house foreclosures through bank lists.

3. Find auction listings with details and dates for the auction.

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

Use free Connecticut foreclosure listings

Free foreclosure Connecticut lists have complete details and updates. You'll need to register to gain full access.

I recommend: Register, then customize your search for Connecticut foreclosures at EmailForeclosues.com.

Pay a fee after your trial to see a foreclosure listing in Connecticut

A fee-based foreclosure listing in Connecticut provides updated information and may be more accurate than a free listing. Many offer bankruptcy, HUD, auctions and pre-foreclosure properties. Full details for each listing are provided.

I recommend: Sign up for a 7-day trial at foreclosure.com. A weekly fee applies after the trial expires.

Search Connecticut foreclosures in pre-foreclosure stage

Pre-foreclosure means the owner needs to sell the property before the bank starts the foreclosure process. Look at the property to determine its value and talk with the owner to determine possible repair costs before buying.

I recommend: Begin a free trial after registering to obtain all the information and email alerts at RealtyTrac.com.

See Connecticut bank foreclosures

Banks obtain real estate when a borrower defaults. These real estate owned (REO) properties are usually offered at a 10% to 15% discount to the market, because the bank does not want to carry the foreclosed property on its books.

I recommend: Register for a low fee trial at Bank Foreclosures Sales with listings throughout the state.

Look at auction foreclosure -- Connecticut offers deep discounts

Connecticut law provides for a public auction to recover equity that exceeds the debt. The court provides a date, typically between 60 to 90 days after a court ruling. The winning bidder must pay the balance within 30 days of sale.

I recommend: Get access to the entire state’s auction with a minimal one-time fee at Government-Auctions-Guide.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  Judicial home foreclosures in Connecticut usually take 62 days to process.
• •  After a winning auction bid is made, the court has two weeks to approve the sale. Within this period, the law gives the borrower the right to redeem her property by paying off the mortgage and all costs.

Connecticut foreclosures make solid business investments, and they can also be great locations for store fronts, offices or other commercial properties if you do thorough research before investing. Searching for foreclosures in Connecticut takes time, but if you find the perfect listing you could end up with a great property at an even better price.

Making the most of a foreclosure listing in Connecticut is simple when you look for businesses or homes in pre-foreclosure status. Once you find a property, research the area to find out if it’s a good location. Check all lien information and the condition of the property before signing any sale contracts. To make the most of Connecticut foreclosure listings, you should:

1. Find pre-foreclosures in Connecticut online at national websites or by searching local Realtor websites.

2. Get your finances in order before spending too much time searching Connecticut house foreclosures. Set up a loan so you know what you’ll have to spend.

3. Check the foreclosure property closely. Look for any physical damage, but also do some research to make sure there are no liens on the property.

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

Search Connecticut foreclosure listings at local bank and Realtor websites or online national websit

Look for Connecticut bank foreclosures on national websites by searching Connecticut properties. Narrow your search by county or even city. Ask around at local banks or go online and search local bank and Realtor websites. Keep your eyes open for CT foreclosures that have been around awhile. Their prices may be negotiable.

I recommend: Search for property at the Bank Owned Properties in the Connecticut search field. Specify the county and city where you’re looking for property to begin your search. Search for properties in Woodbury, or choose another city in Connecticut to look for foreclosures at Foreclosure and Bank Owned Real Estate.

Line up a loan or calculate the amount you can spend on Connecticut foreclosure properties listings

If you've already talked to a bank or mortgage broker, you're one step up on the next buyer because when you find a foreclosure listing in Connecticut that you're interested in buying, you can move more quickly. Contact a local lender prior to delving too far into your search so you know how much you have available to spend on a foreclosure property.

I recommend: Check mortgage rates with Connecticut Mortgage Lenders, and pre-qualify for a loan before your foreclosure property search. Get the best interest rate possible on a loan from the Connecticut Bank and Trust.

Research properties you find in Connecticut foreclosure listings closely before buying anything

Some bank and real estate owned (REO) foreclosures may not save you as much money as you anticipate. Check the property title to make sure it is clear of liens and mortgage charges. Make sure you also have a complete inspection done to find any building flaws or damage that will cost you money to fix.

I recommend: Check foreclosure properties in Connecticut through the individual city’s property title search. Find the local agency for your foreclosure at State and Local Government on the Net. Hire LandAmerica Exchange Company to do title research for you and insure the property will be lien free when you buy it.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  Hire an appraiser, or better yet an inspector, to investigate the entire property for any damage, building flaws or large-scale repairs that will need to be done before you buy a foreclosure in Connecticut.
• •  Property owners who need to sell quickly because they're behind on their mortgage payments are more willing to settle for less. Find these properties through foreclosure listings in Connecticut or pre-foreclosure information.

The process of foreclosure is slightly different in every state. As a potential buyer who is looking at foreclosure listings in Connecticut, it's important to understand the policies and procedures that an owner is going through so you can make an informed decision on purchasing a foreclosed property. Here are some terms and quality resources associated with foreclosure listings in Connecticut.

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

Lien theory

Lien theory refers to when a piece of property acts as the collateral for the underlying loan.

I recommend: Visit Foreclosure.com for more information on lien theory, deeds of trust and how they operate in Connecticut.

Strict foreclosure

A strict foreclosure refers to a foreclosure that occurs when a borrower has defaulted on their mortgage and a court has imposed a number of 'law days' in which the loan must be paid off. This may occur in as little as three weeks. A strict foreclosure usually occurs when the property is worth less than the mortgage and the bank wishes to hold the property for resale at a later date.

I recommend: Visit the website for Foreclosure University for more information on how a strict foreclosure operates in the state of Connecticut.

Foreclosure by sale

A foreclosure by sale in the state of Connecticut occurs after a borrower has defaulted on their mortgage. A judge then sets a 'sale date' where they assign a 'committee for sale' to complete all aspects of the auction. A defaulted borrower has the right to cure the debt by paying it off or obtaining another mortgage before the auction is completed.

I recommend: Visit the website for the Legal Assistance Resource Center of Connecticut for a further discussion of how a foreclosure by sale occurs in Connecticut.

Foreclosure mediation

After the passing of the 'Act Concerning Responsible Lending and Economic Security' in the state of Connecticut, foreclosure mediation became a viable option. Foreclosure mediation is a mediation between the borrower and the bank which aims to restructure the loan. When looking at Connecticut foreclosure listings, it's important to know if a listing is in the midst of mediation as they may have more protections.

I recommend: Visit Volman Law for a comprehensive article regarding foreclosure mediation and how the process works in Connecticut.

Notice of acceleration

A notice of acceleration is served by the bank to the borrower once they have defaulted on their loan. This starts the process whereby foreclosure listing services may list the home in pre-foreclosure.

I recommend: LexisNexis has further information on the notice of acceleration.

Right of redemption

Right of redemption refers to a process a defaulted borrower can undertake to reclaim their property out of foreclosure. It is important to check if there are any right of redemption clauses on a foreclosure listing before purchasing so that the previously defaulted borrower may not claim the property back.

I recommend: Visit e-Foreclosure Search for more information on right of redemption and how it relates to Connecticut foreclosure listings.