Making the most of Wisconsin 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.

Wisconsin real estate appears on a foreclosure list 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 Wisconsin 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 foreclosed properties in Wisconsin

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: ForeclosuresToGo.com outlines the laws regarding foreclosures in Wisconsin. ForeclosureListings.com offers information on the difference between judicial and non-judicial foreclosures in Wisconsin.

Get more information on foreclosure listings in Wisconsin

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

I recommend: TRS Foreclosures has a blog and a FAQ on the foreclosure process in Wisconsin. Foreclosure Deals answers many questions on the different types of foreclosure properties in Wisconsin.

Locate foreclosure listings in Wisconsin online

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

I recommend: Mostly Foreclosures offers foreclosures listings in Wisconsin by county with a clickable map of Wisconsin. Foreclosure Warehouse allows you to locate foreclosure properties by county, city and zip code, and offers information about finding foreclosed properties in Wisconsin.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  Determine the market value of a property in foreclosure in Wisconsin. 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.

If you’re waiting for the next big thing in Wisconsin real estate, foreclosed homes in Wisconsin are definitely worth a further look. Whether you want a suburban starter home outside of Milwaukee, a quaint bungalow in Madison, or a weekend getaway near Fond du Lac, you can find Wisconsin foreclosure listings that will fit your needs perfectly. But don't let a fear of sorting through all the information on foreclosures in Wisconsin stop you before you even get started.

It can seem impossible to find a reputable supplier of foreclosure properties in Wisconsin. You might find a list of foreclosed properties in Wisconsin and then see that it has a print date of four months ago, or someone will tell you that you have to pay out the nose for more current lists of Wisconsin foreclosures. It doesn't have to be that hard. You can find lists of homes going to Wisconsin foreclosure sale without breaking the bank.

When looking for Wisconsin foreclosure listings, among the key points to consider are:

1. The latest update date on the Wisconsin home foreclosure list;

2. The supplier of the Wisconsin foreclosures listing;

3. The cost to you for the list of Wisconsin foreclosure properties.

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

Choose lists of homes in foreclosure in Wisconsin that are as recent as you can find

If you're looking for the most up-to-date list of foreclosed homes in Wisconsin, you can right away strike off your list one place to find them--on paper. As soon as a pamphlet is printed, it's out-of-date. Instead, focus on online resources to find the most recent Wisconsin real estate gems.

I recommend: RealtyStore offers a $1 week-long trial so that you can peruse their listings before committing to a large investment. They also put all of their foreclosure listings in Wisconsin through a stringent 10-point quality check to provide you with the most up-to-date and relevant listings available.

Know the supplier of your list of foreclosed homes in Wisconsin

Turn on the TV early on Sunday morning, and you're almost guaranteed to find an infomercial promising that only they can find you the best deals in Wisconsin real estate. But is the same company that sold you that wall hook that will hold hundreds of pounds last week really the best place to buy your Wisconsin foreclosure listings? Hardly. Instead, find a reputable source of foreclosures and foreclosures only.

I recommend: HUD-foreclosed features thousands of government foreclosures in Wisconsin.

Find free listings of homes in foreclosure in Wisconsin

Despite what you may think, you really don't need to spend much to get great lists of foreclosed properties in Wisconsin that can save you 20 to 50%. There are lots of free sites that will give you exactly the information you need.

I recommend: ForeclosureFreeSearch features a week-long free trial period. ForeclosureS also offers a seven-day free trial for another option for free listings of Wisconsin foreclosures.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  When considering investing in a Wisconsin foreclosure, rate the list of property features you want from highest to lowest before you start looking. This helps you avoid getting so wrapped in the 'deal' that you don't realize that the property isn't really what you need until it's too late.

The primary purpose of Wisconsin 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.

Wisconsin real estate appears 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 foreclosed properties in Wisconsin. These sites usually have the ability to display only those properties that are in Wisconsin.
2. Sites of Realtors in Wisconsin. Some real estate agents specialize in foreclosure homes and may provide additional information for first time home buyers.
3. Sites with laws on Wisconsin foreclosures. These laws provide basic information on the foreclosure process in Wisconsin, 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 foreclosure properties in Wisconsin

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

I recommend: Free Foreclosure Database provides maps and photos of its foreclosure properties in Wisconsin. Mostly Foreclosures offers a table of foreclosure properties in Wisconsin that includes the zip code, number of bedrooms and price.

Learn more about foreclosures in Wisconsin from Realtors

Real estate agents frequently have foreclosure lists in Wisconsin 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 Wisconsin.

I recommend: Homestead Realty provides foreclosure listings in Milwaukee and basic information on the first-time homebuyer tax credit in Wisconsin. RE/MAX agent Bonnie Johnson, Realtor has foreclosure properties for sale in Wisconsin and a variety of basic information for home buyers and sellers.

Study the laws on foreclosures in Wisconsin

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

I recommend: ForeclosureDeals provides an overview on the laws regarding foreclosures in Wisconsin, including the difference between a judicial and non-judicial foreclosure. RealtyTrac summarizes the laws on the pre-foreclosure period in Wisconsin.

When it comes to Wisconsin real estate, there are different types of transactions that transfer properties to a new owner. Foreclosures refer to properties that have been seized by the lender, county or state because of unpaid mortgage debt or tax liens. A potential buyer must purchase the property by making an offer to cure that debt or winning the property at auction.

Take the time to learn some basic information about Wisconsin foreclosure listings so that you can make the most your real estate transactions and investments. Here are some quality resources to get you started on your journey. Think of your tutorial as "Wisconsin foreclosure listings basics."

1. Learn about Wisconsin foreclosure listings by viewing current websites that detail the foreclosures in Wisconsin by county.

2. Find out about the laws associated with Wisconsin foreclosure property.

3. Consult with a foreclosure attorney to learn about Wisconsin foreclosure laws.

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

Educate yourself on Wisconsin foreclosure listings by viewing websites dedicated to listing them

There are many real estate websites that are geared specifically to the foreclosure market. Foreclosure listings will look a bit different from normal real estate listings in that they will detail things like where the property is in the foreclosure process, how delinquent the payments are, and if there are any corresponding tax liens on the property.

I recommend: Visit the website for Foreclosure.com and familiarize yourself with foreclosure listings in Wisconsin. Foreclosure.com breaks listings down by county. Foreclosure Databank is also another great resource for Wisconsin foreclosures.

Learn about Wisconsin foreclosure property law

While every state has some form of foreclosure process, the laws, rules and regulations can vary substantially between the states. Take the time to read up on the Wisconsin foreclosure laws and see how they might apply to your situation or potential real estate investments.

I recommend: Go to the website for the Wisconsin State Law Library and read the real property laws. These laws also detail the foreclosure laws within the state. Realty Trac also details Wisconsin foreclosure laws.

Consult with a real estate or foreclosure attorney to learn about the Wisconsin foreclosure process

Whether you are going through the Wisconsin foreclosure process or wish to invest in foreclosed properties in Wisconsin, it is wise to consult with a foreclosure attorney so that they can speak to the specifics of your situation. There are many attorneys throughout the state that specialize in foreclosure and real property law and which offer free consultations.

I recommend: Visit the website for Gray & Associates. They are foreclosure attorneys within the state of Wisconsin and offer consultations to potential clients. Bass & Moglowsky also offers similar resources.