How to Find Government Foreclosures

There are three major types of government foreclosures: HUD Foreclosures, VA Foreclosures and FHA Foreclosures. There are a few others, but this is where you will find the vast majority.

For the most part, these properties will blend in with bank foreclosures. That is until you begin signing documents at the closing table.

In my experience, particularly with HUD foreclosures, there is a restriction placed on your ability to sell these properties, after your purchase. Generally, for a 90 day period, you cannot sell the property for higher than your purchase price.

I have heard of recent cases where the period was reduced to as little as 30 days.

If you plan on flipping houses, be sure of this time period at the time of your purchase. You may not be allowed to sell, at a profit, for 90 days after your purchase.

Some do not take this rule seriously, but it is a rule nevertheless. Most closing attorneys will adhere to the rule. You may get a few who do not, though this stipulation is clearly documented in the title information. Always follow the rules. Running your business otherwise will ruin you legally and financially.

These foreclosures used to be auctioned on a regular basis. The auctions were open to the public. However, the inventory just became to large and the logistics of having these regular auctions were impossible.

At this time you can very easily obtain lists or listings of the available inventory.

Simply go to your search engine of choice and type in: "Government foreclosures," "HUD foreclosures" or "VA foreclosures." You will see quite a few websites which will give you FREE access to tons of available properties.


From Government Foreclosures back to Foreclosed Homes and Other Property Sources.