are all bank owned homes on the MLS?

**chapito** · 06-16-2008, 10:53 PM

Or rather, are all bank owned homes that are trying to be sold, on the MLS?

sorry if that's a stupid question.

**Mike Taylor** · 06-17-2008, 04:33 AM

That is not a dumb question at all. I would say the vast majority of foreclosed homes that have been through the whole process are listed on the MLS.

**jamesww** · 06-17-2008, 08:11 AM

I have to disagree with Mike on this one. There is at least 20% of foreclosed homes that never make it to the MLS. Many are sold prior to reaching the MLS through networks of agents and investors. You can not solely rely on the MLS to have all of the foreclosures on the market. You need to find an agent that has experience and connections to the default market.

**chapito** · 06-17-2008, 08:11 AM

thanks Mike, good to know.

**surf** · 06-30-2008, 10:46 PM

Most of bankers know that to get the most for the homes they have to have full exposure to the market. They cann ot get that with out being on the MLS.
While many do not make the MLS the vast majority at least 99% of them do.

**Texas_** · 07-10-2008, 12:46 PM

The foreclosure business can be very tricky. Some deals are found in the MLS. Some deals are found on the courthouse steps.

And a zillion get-rich-quick artists are selling books, tapes, cds, and advice about how to make a fortune on foreclosures.

I'd advise anyone who's truly interested in the foreclosure 'business' to find someone with experience and learn the ropes.

**SellMyDigs.com** · 07-10-2008, 02:05 PM

There are some sites that exclusively search out local foreclosures, they'll have both MLS data and perhaps special bank listings that don't make it. However, through all this speculation it's important to find as many sources as possible, the Multiple Listings Service happens to be a good one.