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:
- 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.
- 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.
- 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.
Find foreclosure property listings in the MassachusettsProviders 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.
Find pre-foreclosure listings in MassachusettsHomeowners in pre-foreclosure may be motivated to sell at below market prices to avoid foreclosure. Using pre-foreclosure listings, you can find such homeowners.
Find listings for Massachusetts foreclosures at auctionAn 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.
Find listings for government-owned and bank-owned foreclosures in MassachusettsListings that focus on government-owned or bank-owned foreclosures in Massachusetts can help you profit from this segment of the foreclosure industry.
Find listings for Massachusetts commercial foreclosure propertiesBusiness 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.
Find free foreclosure listingsFew providers of foreclosure listings in Massachusetts offer free foreclosure lists, however, you can find free trials or very low-cost trials.
Use online learning tools to get the most from Massachusetts foreclosure listingsMaster the art of investing in foreclosures by taking advantage of online tutorials, webinars and other educational resources offered by providers of Massachusetts foreclosure listings.
- 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.