Our Trustee's Sale List is a list of properties that will be foreclosed at the next auction. Auctions take place once a month on the first Tuesday of the month and the Trustee's Sale List is available 20 days before the auction. The list can be tailored to you investment needs. There are 28 fields of useful information and the list can be sorted by any one of them. It also contains other usefull information like trustees' and lenders' addresses, comparable sale and maps of the subject property are obtained at the click of a mouse.

Why do properties in Foreclosure sell for less ?

Foreclosure occurs when the bank ceases to carry property owners, who can not make their note payments. Some of these properties are sold well below their value. These bargains exist for several reasons. Banks are not in the business of managing property. They do not have the expertise for property management nor are they organized for it. The reason these organizations foreclose is to partially or fully recoup their investment. Remember their objective is to liquidate the property so that they can continue with their primary business which is making loans.

Individuals who have loaned money on an owner financed mortgage also have to foreclose. Some sellers take back an owner financed mortgage on their property because it is this only way they can sell it. In this case, the owner may not want the property back. He may have been frustrated by his previous attempts to sell the property and rues the thought of having to go through the same situation again.

Individuals and corporations foreclosing on judgments typically do not want the property being foreclosed. When a company sues another company or an individual and wins, they receive a judgment. In many cases, the only way to receive payment for a judgment is though the foreclosure of real estate. In general, the more difficult the judgment is to collect the greater discount you will receive on properties foreclosed. In Texas, many judgment holders are glad to get any thing for there judgment after holding it a few years.

For these reasons, the sellers at the foreclosure auction are motivated and willing in many cases to sell below market. Sometimes they will even sell below their loan amount. If the judgment holder can receive part of his payment from the auction, he still has the right to pursue other means of collecting the debt including the foreclosure of additional real estate. If other options exist to collect the debt, the judgment holder may be indifferent to the sales price of the property. The net result is that the property is auctioned absolute. Some sellers at the auction will be more motivated than others and every sale will not be a bargain. Even in the best economies, many bargains exist at the foreclosure auction.


Foreclosure By Nonjudicial Process
Texas allows nonjuditial foreclosure by means of a Deed of Trust, which is a short cut that eliminates most of the hassle and expense of a judicial foreclosure. In a nonjudicial foreclosure, the courts are eliminated from the proceedings by the use of power of sale. In this case, the deed of trust provides the default remedy and gives the trustee the power to sell the property after public notice at a public auction.