Foreclosure property listings in Rhode Island contain updated information from a rapidly changing real estate market. The main types of foreclosure include properties in pre-foreclosure, bank-owned, government-owned and auctions. Typically, the buyer goes through a real estate agent who prepares the papers and makes your offer.
The foreclosure process begins when the borrower/owner defaults on payments due. A public notice of default results after several months. This creates a buying opportunity with below-market value for the buyer/investor. Whether your intentions focus on ownership for rental purposes, re-sale or personal dwelling, keeping up with the daily Rhode Island foreclosure listings gives you the early bird opportunity. When using Rhode Island foreclosure property listings consider the following questions:
1. What’s my maximum price for Rhode Island state foreclosure listings?
2. What property features do I need?
3. What location do I want?
4. Do I want pre-foreclosures, auction or bank-owned Rhode Island foreclosure property listings?
Action Steps
The best contacts and resources to help you get it done
Find pre-foreclosure listings in RI
With pre-foreclosure, the owner needs to sell the property before the bank starts the foreclosure process. Look at the property to determine its value and talk with the owner to determine possible repair costs before buying.
I recommend: See pre-foreclosure listings with a free trial at
ForeclosureFreeSearch.com with foreclosure alerts. Enter county, city or zip code at
ForeclosureWarehouse.com for foreclosure listings in Rhode Island. A nominal fee applies.
Sign up for a free Rhode Island foreclosure listing
Receive email notification when new foreclosure listings in Rhode Island come to market. Fill out a short application to get on the list.
I recommend: Sign up for free email listings and search at
EmailForeclosures.com. Receive free foreclosure property listings in Rhode Island with daily email alerts from
RealtyTrac.com.
Locate bank owned homes in RI foreclosure listings
A real estate owned property (REO) results when the mortgage lender takes back the property for resale. Typically, up to 20% discounts apply to these distressed properties.
I recommend: Search
ForeclosureS.com by city then click “REO/Bank Owned” tab to find existing bank foreclosures in Rhode Island. Find bank repos and REO foreclosed homes in Rhode Island from the list at
HUDForeclosed.com. Sign up for a free trial to find REO properties at
AbsoluteForeclosures.com.
Find auctions in Rhode Island foreclosure listings
A notice of sale, published in local newspapers during a 3-week period, must provide address, mortgage date, amount due, auction date and location.
I recommend: For Rhode Island foreclosure listings ready for auction go to
Government-Auctions-Guide and select RI from the drop down menu. A low membership fee applies. Check in often to find notices for foreclosed property listings in Rhode Island at
PropertyAuction.com.
Tips & Tactics
Helpful advice for making the most of this Guide
- Buying foreclosed homes in Rhode Island typically takes 2 months to close with most sales handled without court proceedings.
The official source of Rhode Island Foreclosure Listings is
the Rhode Island Foreclosure Listings page at Business.com
Related Resources from Business.com
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