How to Get a List of Pre-Foreclosure Homes

Obtaining a list of pre-foreclosure homes offers opportunities for individuals seeking properties not yet widely marketed. These properties are in a stage where homeowners face financial difficulty, but the property has not yet been sold at auction. Identifying and accessing information about these properties requires understanding specific legal filings and various information channels. This article guides you through methods for finding pre-foreclosure properties, from public records to online resources and community networks.

Identifying Pre-Foreclosure Indicators

The pre-foreclosure phase begins when a homeowner falls behind on mortgage payments. Two primary legal filings indicate a property has entered this stage: the Notice of Default (NOD) and the Lis Pendens. These publicly recorded documents indicate financial distress.

A Notice of Default (NOD) is a public notice filed by a lender with a court or county recorder’s office when a borrower fails to meet mortgage obligations. It signals missed payments, often three or more, and danger of foreclosure. The NOD contains details: borrower and lender names, property address, and default description. It specifies the amount to cure the default, including missed payments, penalties, fees, and interest, with a deadline.

A Lis Pendens, Latin for “suit pending,” indicates a lawsuit concerning the property. Filed with the county land records office, it warns that the property’s title or ownership is subject to ongoing litigation. While it does not prevent sale, it notifies potential buyers or lenders that any acquired interest is subject to the lawsuit’s outcome. The notice includes names of all parties and a description of the affected property.

Direct Public Record Access

Accessing pre-foreclosure information through public records is fundamental, as documents like Notices of Default and Lis Pendens are public. The county recorder’s or clerk’s office in the property’s county serves as the primary repository for these real estate documents. These offices maintain records of all property transactions and legal filings.

Individuals can visit offices in person to search for records. Locate the property records department and request staff assistance. Many offices provide public terminals for searches by owner name, address, or document type (e.g., “Notice of Default” or “Lis Pendens”). Copies can be obtained for a nominal fee.

Many counties offer online portals for searching property records remotely. Availability and comprehensiveness vary by county. Users can navigate to the county’s website for “Recorder,” “Clerk of Courts,” or “Property Records” sections. These systems feature search functions to filter by document type for pre-foreclosure filings. While some information is free, fees may apply for detailed documents or certified copies.

Leveraging Online Platforms

Beyond public records, online platforms offer aggregated pre-foreclosure data to identify potential properties. They streamline searches by compiling information from various sources into a single interface. These resources significantly reduce time and effort to find listings.

Major real estate websites feature filters for pre-foreclosure properties. Platforms like Zillow, Redfin, Trulia, and Realtor.com allow users to apply listing type filters, often under “Potential Listings” or “Foreclosures.” While offering a broad overview, their data might lag official public records or specialized services, and coverage may not be exhaustive.

Subscription-based services offer more comprehensive, specialized data on distressed properties. Websites like Foreclosure.com and RealtyTrac aggregate extensive pre-foreclosure data, including properties in various foreclosure stages, providing detailed information, wider geographic coverage, advanced filters, and investor tools like estimated market values and potential savings. Users can explore databases before subscribing, and email alerts notify users of new listings matching specific criteria. Always cross-reference online information with public records to verify accuracy and status, given potential data lags.

Professional and Community Channels

Beyond records and online databases, individuals can uncover pre-foreclosure opportunities through professional networks and observational techniques. These methods leverage relationships and local insights, providing access to less publicized information. These channels offer unique leads and a deeper understanding of local market dynamics.

Real estate agents and brokers specializing in distressed, foreclosure, or investment properties are valuable resources. They often access information or leads before public release, through connections or exclusive listings. Engaging an experienced professional provides insights into properties aligning with investment goals. They also assist in navigating pre-foreclosure transactions.

Local real estate investor groups (REIAs) or meetups provide a platform for networking and knowledge sharing. Members share leads, discuss market trends, and exchange strategies for finding and acquiring distressed properties. Attending meetings and participating can lead to valuable insights and direct connections with individuals identifying pre-foreclosures. These groups are found in most metropolitan areas and can be located through online searches or professional networking sites.

“Driving for dollars” involves physically driving through neighborhoods to identify distressed properties. Visible cues like overgrown yards, deferred maintenance, boarded-up windows, or notices on doors indicate financial trouble or neglect. This technique allows individuals to proactively find potential pre-foreclosure candidates not yet listed. Once identified, further research can ascertain ownership and financial status, potentially leading to a direct approach to the homeowner.