Purchasing Resources for Massachusetts Foreclosure Listings

Massachusetts Foreclosure Listings

Take advantage of Massachusetts foreclosures for bargains on real estate
By Frances Sharpe, freelance writer/editor 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.

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.
Try:  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.
Try:  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.
Try:  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.
Try:  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.
Try:  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.
Try:  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.
Try:  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.

• 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.

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