Comparing Bankruptcies and Foreclosures

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What are Bankruptcy Sales?

Bankruptcy home sales happen when someone files for bankruptcy and forfeit their rights to their property. The home is then repossessed by the lender, who is looking to sell it cheap and fast so that they can recoup their losses. Banks don’t profit by having properties, they profit by making money. Therefore, they will sell bankruptcy homes for much less than you’d expect simply to get them off of their hands. These homes come in all shapes and sizes, and are one of the most common types of property repossessed after bankruptcy is filed. For the owner, this is not always the best situation, but for buyers and investors it’s a great deal waiting to be made.

Why Bankruptcy? Why not Foreclosure?

It’s a tossup on any credit report as to whether bankruptcy or foreclosure looks better, but some people still seem to think that they will fare better with a bankruptcy on their credit than a foreclosure. Therefore, when they begin going through the foreclosure process, they will work with a lawyer to file bankruptcy instead, usually Chapter 13, so that they can be rid of the home and it cannot be foreclosed upon. Neither one looks good on your credit, but some people just prefer one over the other after seeking legal advice. It’s all matter of finding out what works for the homeowner. Either way, buyers still save money on bankruptcies and foreclosures alike.

Where Can I find Bankruptcy Homes Lists?

We have a comprehensive database of non-traditional home sales, including bankruptcy home sales, foreclosures, pre-foreclosures, tax lien sales, government foreclosures, and even FSBO (for sale by owner) homes to choose from. You can find information on thousands of listings around the country that are available to the public for purchase. When you buy a bankruptcy home or a foreclosure, you’re generally going to get a much better deal on the property than if you’d buy it at full market value, which can make your home buying experience better than you might have expected.

If you want the hottest deals and latest bankruptcy homes lists, you’ve come to the right place! Sign up for our 7-day trial today and get access to the best listings near you, no matter where at in the U.S. you are located. We’ve got a variety of properties that you can choose from and great deals on amazing homes all over the country. Hurry, though, because this 7 day trial is only available for a limited time!