Short Sales and Foreclosures
This Web page displays all foreclosure listings from the Heartland Multiple Listing Service (MLS). You do not need to subscribe to a “special foreclosure website.” Think about it: why would a bank want to keep those properties a secret? They don’t! You can’t go to a bank and ask to see their “foreclosure list.” Many years ago that was possible, but it just isn’t done that way these days. The banks want the maximum exposure for the property to get it sold, so that's why they are nearly always listed with agents and put onto the regular, local MLS.
These properties are not the bargains that people think they are. Purchasing a distressed property is very different than purchasing a traditional property. These properties are typically in poor shape. You won’t get a seller’s disclosure and you will likely have to sign special addendums required by the selling lender--these addendums will not be in your favor as a buyer.
Before you can have an inspection, you may have to be responsible for calling the utility companies, making deposits, and having utilities re-activated.
Short sales are the worst way to buy a home. It takes months on end to get to a closing because it takes "forever" for the bank to even decide if they will take your offer.