Foreclosures in Williamsburg

I often have people ask me about foreclosures in Willamsburg. Usually when people inquire about foreclosures they are considering purchasing a foreclosure as an investment or to be used as their primary dwelling.

For REALTORS in Williamsburg finding a foreclosure in the MLS is not always easy. When a REALTOR in Williamsburg takes a listing they fill out data input sheets for the office manager or secretary to use when inputing the listing into the MLS system. The data input sheets for our MLS in Williamsburg have a field for foreclosures, but it is not a required field so it does not always get checked

Because of the way the data input sheets are set up, a search for foreclosures in Williamsburg all of the foreclosures will not show up in the search.

There are other ways to determine if a listing is a foreclosure, but it takes a little bit more effort on the part of the REALTOR.

One way to find out if a house is a foreclosure is to look at the owner name. If the owners name is Wells Fargo, Bank of America or FAnnie Mae, well that would be a no brainer. However, there are many other banks and mortgage companies and sometimes a foreclosure has the name REO or is a partnership or an LLC.

Another way to find a foreclosure is by knowing which agents in the area typically list foreclosures and to run a search of their listings. If the listing does not have the foreclosure field checked, a phone call to the listing agent will usually get the answer.

So if you are looking for a foreclosure in Williamsburg, make sure that your REALTOR is wiling to do a little digging to find all of the foreclosures. If you do no have a buyer's agent, feel free to contact me!