The foreclosure market moves quickly because of the volume of homes available. In the general real estate market, buyers must wait for a willing seller to accept an offer. Auctions sales work differently. Bidders determine the sale price, without reserve, and without consideration for market value. Foreclosure auctions eliminate the role of a willing seller, and as a result, the winning bid may be far below true market value.

If you consider buying a property at an auction sale, you must use due diligence. The notice of sale contains little useful information, and certainly does not provide all necessary information required to make an informed decision.

The necessary information is available from several sources. You could waste days or weeks making calls to verify other outstanding liens, taxes owed, and comparable sales in the neighborhood. You could then estimate the value of one or two potential prospects. You could hire someone to research properties for you, for and added cost, with the same delays and limitations. Fortunately, you have a much better alternative.

Free foreclosure listings provide supplemental information for more than a million properties across the country. This information is free because the best companies allow unlimited access to their database for up to seven days, if you subscribe for a free evaluation offer. Over the course of a week, you could find all listings within driving distance and begin bidding before you must subscribe. If you use trial offers creatively, you could try a different service each week, free of charge, for months.

Most people eventually realize the small cost for access to their favorite service is minimal compared to the capability to screen thousands of properties every day using a familiar source. The profit potential for an active buyer is staggering.

Professional foreclosure specialists must work efficiently. Changing services week to week seldom makes sense for a serious bidder. The cost for high quality services is available for less than $50 a month. Frequently, you will discover the best local coverage costs about $30 a month.