Check the public notices in your area’s legal paper. It is usually published at least weekly.

However, one problem with this is that the location of the property is often given as a legal description. For example, suppose you learn that a certain property is in the foreclosure process, and the location is given as:

Lot 59 of Tract No. 1041 as per map recorded in Block 25 Page 46, in the office of the county Recorder, county of xxxx.

Unless you can translate this into a street address, it’s not of much help.
 

Mention real estate bargains and the first thought that usually comes to mind is foreclosure. If there’s a bargain to be found, most people assume that this is where it is.

Foreclosures do, indeed, offer opportunities for bargain hunters. Here it is possible to obtain properties lor a fraction of their market value.

For example, let’s say you’ve found a neighborhood where the average house sells for about $150,000. Being a bargain hunter, you’re looking for a highly motivated seller, one you can lowball and perhaps, in exchange for a quick sale, negotiate a price of 10 to 15 percent under market.

What about the Competition?

Some bargain hunters are overwhelmed by the thought of competition. “There must be dozens, hundreds, thousands of other bargain hunters out there. They may be more experienced than I am. They may be brokers and attorneys. What chance do I have?”

Well, “Damn the competition- full speed ahead”! In real estate I’ve found that the best way to handle the competition is to ignore it. This is particularly effective because in most cases the competition is mainly in our minds.

Real estate bargains aren’t limited to splits. There’s everything from repos to tax auctions; from probates to discounted seconds; from “junk” locations to million-dollar “fixers.”