Foreclosure list research guide

6. Foreclosure research

6.1 Identify the stage of distress

Separate pre-foreclosure marketing, scheduled sale, postponed sale, sheriff or trustee sale, judicial sale, and lender REO. Timing and certainty differ materially at each stage.

6.2 Understand servicer process and borrower rights

Loss-mitigation and servicing rules can affect timelines. Scheduled sale dates are not always final; postponement and reinstatement remain live questions until you confirm status from authoritative sources.

6.3 Research sale terms and bid logistics

Auction terms often specify as-is sale, deposit rules, bid increments, and buyer-borne diligence. Economic edge is frequently lost in mechanics: deposits, opening bids, postponements, and post-sale possession surprises.

6.4 Research lien position and occupancy

Determine what is senior, what may survive, whether taxes or association obligations remain, and whether the property appears owner-occupied, tenant-occupied, vacant, or contested. Post-sale possession and surviving obligations often decide viability.