Best spots to find real estate deals

Real Estate | 27 Jul |

Whether you are looking for your next family home or thinking about jumping into the real estate investing game, you want to make sure you are getting the best real estate deals  possible. Hunting through realtor listings and websites like Trulia, Redfin and Realtor.com can give you a lot of listings, but they probably won’t be the cheapest ones available. Whether you’re looking for Atlanta homes for sale or anywhere across the country, the housing market is hot and prices are high. It may take some additional searching to find the best deals. Here are some of the places where you can start your search.

For Sale By Owner

Several websites list only homes that are for sale by owner. Often these listings are going to be cheaper than listings through a realtor. Frequently when people are listing their home for sale by owner, they are trying to get out from under a mortgage quickly, or they are looking to move soon. Either way, they are more likely to work with you and negotiate a low price to be rid of the property.

Tax Auctions

Nearly every county in the country has a website where they list properties that are up for auction due to unpaid property taxes. These auctions start with the amount that is owed in back taxes and then goes up from there depending on how many people are bidding and what their bids might be. This is often the cheapest way to land a property. You can usually get homes for as little as 20 percent of their market value if there aren’t very many bidders.

Police Auctions

Just like you can get cars, electronics, and other items through police auctions, you can also get homes through police auctions. If an individual has their property seized due to criminal activity, that property is then sold at auction to help reimburse their victims and the court system. Often the homes that are for sale at police auctions are not in the best condition, but they can usually be picked up at minimal cost with a relatively low investment required to make it livable or rentable.

Craigslist

Craigslist is a great place to find real estate deals. On Craigslist you’re going to see real estate that is listed for sale by owner. The difference between websites that focus solely on for sale by owner properties and Craigslist is that Craigslist is free to post. If someone is posting their real estate for sale on Craigslist, they are desperate for a sale and low on cash. The properties listed on Craigslist may not be the highest quality or the best neighborhoods, but you’ll definitely find some deals and sellers willing to negotiate price.

The Bottom Line

Looking for real estate to purchase through common channels may be easier, but it is not going to get you the best deal in most cases. Looking at nontraditional real estate listings will help you widen your search and find homes for sale that are much more affordable than those found on the major real estate websites.

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