Using Massachusetts foreclosure listings to find the best deals is a process that includes sifting through many old or useless listings of properties. Finding a good foreclosure website is key to making the most of the listings you find. Look for a website that offers advanced search options to narrow your options quickly and easily.

Break your search down by location or property type when searching a list of Massachusetts commercial foreclosure properties. If you know where you want to relocate your business or sell property, start your search within that area. Once you’ve removed the foreclosure properties that aren’t in the area, you’ll have less through which to sift. If you’re open to locating in one of several areas, but need a specific property type, keep your area search field open and specify the property type. Remember to:

1. Find national foreclosure listings online, or browse a local real estate list of property foreclosures in Massachusetts.

2. Use an online list of property foreclosures in Massachusetts to search for properties either by region or by property type.

3. Hire a licensed Realtor for help you sift through Massachusetts foreclosure properties.

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

Use online Massachusetts foreclosures listings 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 Massachusetts foreclosures 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: Search foreclosures, short sales, real estate owned (REO) properties and more at Zip Realty, or begin your search for foreclosure property listings in Massachusetts at ForeclosuresMass.

Use all search options to find the right Massachusetts foreclosed property listings

Once you've found a few good providers of foreclosure listings in Massachusetts to use, you'll want to search for the type of Massachusetts foreclosure property listing you want. Begin your search in a specific area, or search several areas in Massachusetts to find a specific property type. Sift through real-estate owned, privately owned pre-foreclosures and bank-owned foreclosures in Massachusetts.

I recommend: Try a free 7-day trial of RealtyTrac to search through many properties in Massachusetts. Search in a specific area, or narrow your options down by building type and size. Use the Homes.com website to search for properties in a specific Massachusetts county.

Get help checking on all Massachusetts foreclosure properties

Once you've found a few foreclosure listings that look interesting, you have to move quickly. If the property is a pre-foreclosure, cautiously contact the current owner directly because some owners may not know the property is on a pre-foreclosure list. 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 Realtor to help you through the purchasing process of a foreclosure property through the Massachusetts Association of Realtors, or hire a Bank-Owned Buyer Broker to assist you through the entire process of searching to closing on a foreclosure property.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  The worse the housing market is, the more foreclosure properties in Massachusetts you'll find. 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.

Massachusetts foreclosure listings give you a heads up on residential and commercial properties that are being sold below market value. Studies show that foreclosure properties in Massachusetts and the rest of the nation sell for an average of 22 percent less than ordinary home sales. Whether you’re seeking a traditional home in Lowell, a commercial property in Cambridge or an investment property in Boston that you can turn around and sell for profit, you have several options for finding foreclosure property listings in the Massachusetts.

Foreclosure properties in Massachusetts are the result of homeowners or business owners missing their mortgage payments and defaulting on their loans. Massachusetts foreclosure properties may also be called Massachusetts distressed properties.

A Massachusetts foreclosure property may be sold at one of three stages in the foreclosure process:

1. Stage 1 — Pre-foreclosure: Homeowners are considered to be in pre-foreclosure when they have missed at least one mortgage payment. Pre-foreclosure properties in Massachusetts often sell at 20-40 percent below market value.
2. Stage 2 — Foreclosure auction: Lenders sell Massachusetts foreclosures at auction to the highest bidders. Buying at auction can result in savings of 35-50 percent off market value.
3. Stage 3 — Real Estate Owned (REO): When the lending bank is the highest bidder at the auction or there are no bidders, properties become bank-owned foreclosures. In Massachusetts, buying property from the bank typically results in more modest savings.

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

Find foreclosure property listings in the Massachusetts

Providers of foreclosure listings in Massachusetts typically offer listings by county, city or ZIP code so you can find foreclosures in your area. Note that most Massachusetts foreclosure listings can only be accessed once you register and pay a fee.

I recommend: Some of the largest providers of foreclosure listings in Massachusetts include RealtyStore.com, RealtyTrac, ForeclosureDataBank.com, Foreclosure.com and ForeclosureS.com, where you’ll find thousands of properties listed.

Find pre-foreclosure listings in Massachusetts

Homeowners in pre-foreclosure may be motivated to sell at below market prices to avoid foreclosure. Using pre-foreclosure listings, you can find such homeowners.

I recommend: Massachusetts distressed properties in the Boston and Fall River areas can be found at FindMeDistressedHomes.com, which specializes in pre-foreclosure listings.

Find listings for Massachusetts foreclosures at auction

An auction for a Massachusetts foreclosure property is typically held at the county courthouse. Buyers must be present and usually must bring a deposit in the form of a cashier's check.

I recommend: At the Real Estate Disposition Corporation, you can check the auction calendar listings for upcoming sales on Massachusetts foreclosure properties and you can sign up to receive email notifications of auctions taking place in Massachusetts. The Massachusetts real estate auctions listed at GovernmentAuctions.org often include foreclosures, but you’ll need to register to view them.

Find listings for government-owned and bank-owned foreclosures in Massachusetts

Listings that focus on government-owned or bank-owned foreclosures in Massachusetts can help you profit from this segment of the foreclosure industry.

I recommend: HUDForeclosed.com offers the largest inventory of government-owned and bank-owned foreclosures in Massachusetts. At All Foreclosure Information, you can search for properties owned by the government, asset managers or banks.

Find listings for Massachusetts commercial foreclosure properties

Business foreclosures in Massachusetts occur when business owners default on a commercial mortgage loan. In Massachusetts, commercial foreclosure properties can be categorized as agricultural, industrial or business properties, such as office buildings or retail spaces.

I recommend: Search the business foreclosure listings in Massachusetts at Foreclosure Listings. Other providers of commercial foreclosure listings in Massachusetts include ForeclosureFreeSearch.com.

Find free foreclosure listings

Few providers of foreclosure listings in Massachusetts offer free foreclosure lists, however, you can find free trials or very low-cost trials.

I recommend: ForeclosureFreeSearch.com offers a free seven-day trial. For a seven-day trial, you’ll pay $1 at HUDForeclosed.com, $1.95 at RealtyStore.com and $3.95 at ForeclosureDeals.

Use online learning tools to get the most from Massachusetts foreclosure listings

Master the art of investing in foreclosures by taking advantage of online tutorials, webinars and other educational resources offered by providers of Massachusetts foreclosure listings.

I recommend: Check out the resources in the learning center at RealtyTrac or the Foreclosure.com webinar series for educational sessions on buying foreclosure properties in Massachusetts.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  Look for providers of foreclosure listings in Massachusetts that offer neighborhood reports and sale comparisons.
• •  Some providers of foreclosure listings in Massachusetts also offer loan and downpayment programs via their websites.
• •  Massachusetts commercial foreclosure properties offer some of the biggest savings off market value.

Massachusetts foreclosures can make great investments if you're able to find a property at a low foreclosure price and turn it into a property worth thousands more. Even if you're looking for a permanent commercial property to use as an office place or store front, Massachusetts foreclosure listings can help you start your search for property at lower-than-normal prices.

Making the most of Massachusetts foreclosure listings is easy if you start with a good base. Get your financing options in line before you begin your search. Once you've found a few interesting properties, do the proper research to make sure they are free of liens, defects and damage that could cost thousands of dollars to repair.

1. Search loan availability to finance your foreclosure property before you start your search.

2. Find Massachusetts foreclosures, bank-owned properties, short sale and real estate owned property by searching local Realtor websites.

3. Review the Massachusetts foreclosure property closely before buying it.

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

Find financing before searching through Massachusetts foreclosure properties listings

Beat your competitors to the sale by having your financing lined up before you begin your search for the perfect Massachusetts foreclosure listing. You'll have a better idea of what you can afford to buy, and once you're ready to sign the papers, you'll be well on your way to making a purchase as soon as you find the right property.

I recommend: Find great financing rates with Patriot Mortgage for buying the foreclosure property of your dreams in Massachusetts. With many locations throughout Massachusetts, Century Bank is an easily accessible local option for business property financing.

Search local Massachusetts foreclosure listings from banks and real estate agents

Keep your mind open when searching foreclosure property listings in Massachusetts. If you're looking for a good deal, you may need to demonstrate a willingness to be flexible. Don't narrow down your search to a specific area if you don't have to. Keep your structure options open, and you may find a piece of real estate that works perfectly even though you hadn't originally considered it in your ideal property list.

I recommend: When looking for providers of foreclosure listings in Massachusetts, start your search with ForeclosuresMass. The website lists homes and commercial property in foreclosure throughout the state. Use the Cityside Management Corporation listing for government-owned properties in the state.

Check Massachusetts commercial foreclosure properties for liens and other title problems

Before signing any contracts, make sure you do a proper title search. If you're not sure your search is complete, hire a professional title company to complete the search for you so you know of all liens and other title issues before you buy a property.

I recommend: Order your title search through Blackstone Title Company. They offer full title search and closing services if you decide to purchase a foreclosure property. Get the title information you need by contacting the Secretary of the Commonwealth of Massachusetts. You will need to do the research yourself by searching in the district where your foreclosure is located.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  Do a complete property inspection before agreeing to buy foreclosure properties in Massachusetts. It's not a bad idea to hire a professional realty inspector to make sure there are no hidden damages you don't see.

When it comes to Massachusetts foreclosure listings, it's important to know the key terms associated with the process. Though many terms are common to all states, they may have different meanings and timelines due to the laws being different in each state.

Before you start examining the latest foreclosure listings literature, take the time to learn a few of the key terms. Here are some quality resources for information on terms associated with Massachusetts foreclosures.

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

Title theory

Title theory refers to the idea that any piece of property that is not fully paid off is still the property of the lender. Therefore, when a home is foreclosed upon, the bank is still the technical owner. After foreclosure, the bank will usually list the property for sale with a real estate firm.

I recommend: Visit the website for Foreclosure.com for more information about foreclosure and title theory.

Massachusetts non-judicial foreclosure

A non-judicial foreclosure is enacted when a 'power of sale' clause is written into a Massachusetts deed of trust or mortgage. This clause pre-authorizes the lender to list the foreclosed property for sale if the borrower defaults.

I recommend: Visit the website for Foreclosure Law.org for a further discussion of non-judicial foreclosure law within the state of Massachusetts.

Judicial foreclosure

A judicial foreclosure refers to the fact that the bank must get a judgment in a Massachusetts court of law in order to eventually complete the process of foreclosing on a property. This policy is enacted if no 'power of sale' clause exists.

I recommend: Foreclosure Protection.org has an in depth discussion of how judicial foreclosure works in Massachusetts.

Notice to quit

A notice to quit is a paper served by the sheriff to the owner of a property informing them that they have 72 hours to vacate the property. There is an appeal procedure in the state of Massachusetts that must occur prior to listing the foreclosed property for sale.

I recommend: The Massachusetts Court System has more information on notice to quit and the eviction process as it relates to foreclosure law in the state of Massachusetts.

Notice of sale, notice of auction

The notice of sale or notice of auction is a process that the bank must follow when auctioning, listing or selling a foreclosed property in the state of Massachusetts. The notice must be published in the paper at least 21 days before the sale. It then must recur two more times over the next two weeks.

I recommend: Visit the website for Realty Trac for more information on how a notice of sales operates within the state of Massachusetts.

Foreclosure deficiency

A foreclosure deficiency occurs when a property has been sold or auctioned by the bank to a new owner for less than the price of the previous owner's mortgage. In Massachusetts, the previous owner is liable for the deficiency unless otherwise negotiated by the bank.

I recommend: The Foreclosure Info.com contains a discussion of a foreclosure deficiency.