|TABLE OF CONTENTS|
|1. Foreclosure Land for Sale Off-Market|
|1.1 Reonomy Pre-Foreclosure Property Search|
|1.2 Public Land Records|
|2. Foreclosure Land for Sale by Owner|
|3. Foreclosure Land for Sale Listings|
|3.1 Bank Foreclosures Sale|
|3.2 Land and Farm|
|3.9 Lands of America|
Foreclosure land, defined as exhausted land and property tied to unpaid debts or unkept structures, can save you thousands of dollars as a commercial buyer.
However, as the majority of foreclosed properties are found in the residential real estate market, commercial distressed land parcels can be hard to find.
In this post, we breakdown the best resources for finding foreclosure land for sale.
Foreclosure Land for Sale
Pre-foreclosure and foreclosed land offers commercial real estate buyers a lucrative opportunity for investment.
Foreclosed properties are essentially held in limbo by a bank until they’re sold to a new owner. With that, these properties can often come at discounted rates.
As such, foreclosure land for sale offers buyers and investors the chance to snap up promising distressed land for sale for a reduced fee – maximizing profits.
Find Distressed Land Properties Off the Market
It can be difficult to find foreclosed land and commercial properties online as most online listings platforms focus on foreclosed residential properties.
As such, enlisting the help of a broker or lender with insights into the market can be a great way to find distressed land properties for sale. Networking with lenders can give you direct access to properties that are at different stages of mortgage holder takeover – giving you first look at properties hidden from from other potential buyers.
Reonomy Pre-Foreclosure Property Search
One way to get ahead of the curve and search off-market is to search pre-foreclosure land using Reonomy.
Before a parcel even reaches foreclosure, you can reach out to the owner directly and make an offer using Reonomy’s property owner contact information.
You can find properties based on category of pre-foreclosure—from Final Judgement of Foreclosure, to Lis Pendens, and Notice of Defaults. Search for one or all of these categories in your ideal market.
Your other option is to search by a pre-foreclosure property’s date of auction. This can give you some insight into how much time you have left to make a move.
You can search more than 200 different property types and sub-types in every U.S. county, to find owners in pre foreclosure and pitch the best deal possible.
Browse Public Records
You can also use public records sources to find foreclosure land for sale. Legal notices on the foreclosure process are filed by your County Recorder’s Office.
You can easily pull up these records on local foreclosures by searching for Notice of Default (NOD), Notice of Sale, or lis pendens.
In addition, you can also find foreclosure properties by searching for national and local banks with foreclosed properties. Contact the banks directly for more information on any local properties you find.
Pre-Foreclosure Land for Sale by Owner: How to Further Cut Your Costs
Foreclosure land listings already offer an attractive price point for commercial real estate buyers, but for sale by owner (FSBO) listings platforms can help you save hundreds or thousands of dollars more on your purchase.
Platforms that list FSBO listings allow you to source and purchase foreclosed plots without any of the red-tape and added fees that come with bank-owned property listed by an agent or broker.
Foreclosure.com allows you to save thousands on added commissions and additional real estate fees with FSBO foreclosure land listings. Foreclosure.com provides an easy-to-navigate map of the US states and their subsequent counties.
You can refine your search based on price, property type, and market value. It’s free to sign up for notifications, and you can create your own profile to save previous searches and attractive foreclosure listings.
You can use FSBO.com to search from thousands of available FSBO foreclosure land properties. You can search based on your target state, county, city, or zip. FSBO.com provides detailed listings – breaking down price, square foot, and property type – from multi-family to commercial.
Finding Foreclosed Land: Listings Platforms for Finding Foreclosed Land for Sale
Beyond FSBO listings platforms, you can also widen your search and look for foreclosed land properties for sale on commercial property and land listings platforms. We explore the best below.
Bank Foreclosures Sale
Bank Foreclosures Sale lists thousands of bank foreclosed properties every month. You can narrow down your search based on state, city, and price. Bank Foreclosures Sale also provide photos of each of the foreclosed investments for sale, allowing you to fully envision your future purchase.
Land and Farm
Land and Farm lists thousands of diverse commercial, residential, and land listings in each of the U.S states. Land and Farm listings amass to over $294 billion of rural real estate. The site currently boasts over 680,000 plots for sale. While the site is not tailored to foreclosures specifically, the site has a number of foreclosed listings to choose from.
As one of the most popular commercial real estate listings platforms on the available LoopNet is a great place to go to find foreclosure land for sale. LoopNet currently offers 500,000 available property listings to search from. LoopNet’s interactive aerial map enables you to easily search from available foreclosure listings in your target geographical area. In addition, you can also download LoopNet’s app to browse from their foreclosed listings on the go.
Popular commercial real estate listings platform CREXi also provides a number of foreclosure properties to choose from. CREXi boasts over 50,000+ commercial properties for sale, adding approximately 200+ properties per day. You can set up a free account, which will give you access to detailed property information, as well as allow you to save your search, track listings, and customize your notifications and alerts.
LandWatch provides browsers with nearly 1.4 million land listings to choose from, including commercial properties in the US and internationally. LandWatch also includes thousands of foreclosure sites on its database. You can narrow your search to focus on plots that offer a fixed price or auction, or that fall within a certain price range. In addition, you can also find an agent or broker to help you buy a foreclosed property quickly and efficiently thanks to the LandWatch directory.
LandCentral.com releases a new list of land foreclosures every month. The platform provides a range of plots of foreclosed land across the US, each offering different price points and plot sizes. By subscribing to LandCentral’s email list, you can receive monthly notifications as soon as a new plot of foreclosed land has been listed.
Tranzon is another popular website offering listings on foreclosure land and properties in the commercial and residential real estate space. Set up in 1997 by a group of real estate auctioneers, Tranzon mainly focuses on auctioning off available properties – which you can bid on either online or in person.
In addition, Tranzon also provides a downloadable “Property Information Package,” which includes extensive details on all of their listed properties. Moreover, you can also tour each of the properties before you decide to bid at one of their property auctions.
RealtyTrac covers the residential market – focusing on bank foreclosure homes for sale. While you may not be looking for a bargain on your next four-bedroom home, you can use RealtyTrac to search for foreclosure deals on multi-family properties for profit. As RealtyTrac specializes in US foreclosures, you’ll find several promising multi-family properties to choose from.
Lands of America
Lands of America is home to over 5,300 members selling rural land and property. You can search for land and property based on state, price, and acres. You can also use Lands of America to network with leading real estate brokers, agents, and developers specializing in rural real estate across America. Lands of America offers detailed profiles of each of the plots and properties on offer, with a gallery of shots and direct contact details of each listing owner.
Finding Foreclosure Land for Sale
Knowing where to look for commercial foreclosure land for sale can seem daunting at first, with a quick Google search bringing up step-by-step guides and property listings related to the residential market.
Luckily, there a number of great resources for finding distressed land properties for sale online. This list should give you all you need to help you find foreclosure land in the commercial space, bookmark these sites and connect with your local lenders and brokers to begin your search for your next foreclosed land investment.
Potential Drawbacks of Investing in Foreclosed Land
Despite the promise of a higher return on your investment, foreclosed land is tied to a few drawbacks that you need to be aware of. Foreclosure land can be high-maintenance as property has fallen into disarray. Look for land properties that require few repairs to improve your ROI.
Undertake due diligence, and trust your gut – if you sense something is ‘off’ about a potential plot, listen to your instincts and don’t let the excitement of a potentially lucrative foreclosure investment draw you in – ensure you know all there is to know before you make a purchase that could come with hidden issues.
Before diving in to your foreclosure purchase, carefully consider the profit you’ll turn over on the plot in question. Is your plot in an ideal location? Does the land you have your eye on align with your development vision? The weight of tax laws, zoning regulations, and other additional fees and regulations should also be factored into your purchasing decision.
In addition, inexpensive foreclosure land tempts many investors and buyers – so you need to act quickly to find the right plot. As foreclosure land is hard to come by, you need to know just where to look and utilize several diverse sources to secure foreclosed listings for your portfolio. Read on for the best resources to use to find your distressed land property.