Even the nicest homes can face foreclosure.
Finding a foreclosed house for sale in Ohio means getting in on the dream of home ownership at a discount. Government-foreclosed homes and properties owned by the bank are generally offered at less than market value. But "let the buyer beware" is the approach many investors take, as there are no guarantees or warranties when you purchase a foreclosed home: Repairs could range from none to complete wiring and plumbing.
Instructions
1. Request a list of VA, FHA or HUD repossessed homes from your local real estate agency. The Department of Veterans Affairs, the Federal Housing Administration and the Office of Housing and Urban Development issue a monthly list of homes available throughout the state of Ohio. Each active real estate broker in the state receives the list and must supply you with a copy of the list if you request one.
2. Access the HUD website and click on the link labeled "Topic Area". From the drop-down menu, click on "HUD Homes." Select "Ohio" from the list of states and click on the link. You will be taken to the National Home Management Solution website. Click on "Ohio" to open the "Homebuyers Corner" page. Search for homes by city, county, zip code, property case number or price.
3. Find other homes for sale by different government agencies like FannieMae, Department of Veterans Affairs, Federal Deposit Insurance Corporation or the Internal Revenue Service at the HUD website by clicking "Homes For Sale" in the "Topic Area" link. The page contains the links to access the other agencies foreclosed houses and properties available for sale.
4. Search public records in the auditor's office of your local community. Foreclosures are a matter of public record and the auditor's office contains a listing of properties foreclosed upon because of a tax lien.
5. Contact a real estate agent to view any house you are interested in purchasing that is listed with the HUD office and other government agencies. The houses are available for inspection at any time. The agent will also have information about the bidding process and the forms necessary to place a bid on a government-foreclosed house. For properties listed at the auditor's office, you may not be able to inspect the interior of the home prior to bidding.
Tags: auditor office, real estate, Affairs Federal, click link, Department Veterans, Department Veterans Affairs, government agencies
