Every state offers foreclosed homes and commercial listings for sale to the public and real estate investors. In Iowa, foreclosed homes and commercial locations are featured on websites, listed at the county courthouses and at local realtors. Foreclosures may be sold through the court or by private sale. It depends on the lending institution. From start to finish, the process usually takes approximately 4 to 6 months.
Typically, foreclosed homes and commercial locations are auctioned off within each county. The sheriff handles both the distribution and publication of the foreclosure. It is posted in the local newspaper and in the county courthouse. Individuals interested in buying foreclosed homes need to stay current on listing and sale dates.
There are several excellent websites that offer a listing of foreclosed homes within the State of Iowa. Sites require you to sign-up and join their program. They provide a seven-day period for evaluation. At the end of that period, a membership fee is charged to continue to use the service. The following websites are good examples where to find foreclosures:
After you decide on a website and join, check back regularly to watch the listings. Try the first seven days and see if the website lists enough houses in the search area. If there is a home or commercial property you are specifically interested in, call the county courthouse and find out where to place your bid.
Local foreclosure listings are available for Iowa Bank Foreclosures and Government Foreclosed Houses, Distressed Properties, Federal Homes, HUD, VA, and Commercial Foreclosures may be found.
Bidding on a foreclosed house may be handled several different ways. There me be an actually auction at the location, a sealed bid held by the county treasurer, a sealed bid held by the sheriff, buying from a realtor or buying directly from the lending institution that holds the foreclosed house.
Iowa has over 1,200 foreclosures annually. The metropolitan areas offer more listings, but don’t let that discourage you if are looking for a home in a rural county. Houses are available throughout the State of Iowa. Foreclosed homes are perfect both for the investor and homebuyers.