Texas law allows lenders to foreclose and sell properties when the home owner fails to pay the mortgage payments. San Antonio has these bank foreclosures and additional tax foreclosures when home owners fail to pay Texas property taxes. Bexar County is the home of San Antonio. Prospective bidders need to learn how to get foreclosure information from the local Bexar County authorities. They can then compile a list of San Antonio foreclosures they would like to purchase at public auction.
Step 1:
Visit the Bexar County Court Clerk’s online foreclosure listings to start your search for foreclosed homes in San Antonio. Of course, the foreclosed properties you find will include San Antonio foreclosures and other properties around the city limits. This is normal because Texas law divides notice requirements by county instead of city.
You should first visit the Bexar County Clerk Foreclosure Site at Maps.bexar.org/imf/sites/cc_foreclosure_beta/jsp/launch.jsp?popup_blocked=true. this site has a map of San Antonio foreclosed properties, including homes and land like tax foreclosures and judicial bank foreclosures. However, this page also warns that you should rely only on the official foreclosures list at Gov.propertyinfo.com/TX-Bexar/.
Step 2:
Find San Antonio foreclosures by looking at the individual listings for Bexar County. You will want to know the amount due on each property to see which ones fit within your bidding budget. It is also advisable to use the address of each foreclosed property in San Antonio to visit the property and get some idea of its fair market value. Although you do not have a right of inspection before the San Antonio foreclosure sales, you can talk to neighbors to get information or even a real estate appraiser or broker to help you estimate the foreclosure’s value.
Step 3:
Come up with a maximum bid once you decide that you want to bid on a San Antonio foreclosure. Naturally, if you are seeking a good house deal through these Bexar County foreclosures, you need to shoot for a winning bid that is more than the amount due on the property but less than the fair market value. This is the way to get cheap deals on San Antonio foreclosed properties.
Step 4:
Prepare the funds necessary to bid. Look at each county foreclosure listing to determine how to pay if you win an auction for foreclosed property in San Antonio. Many auctions may require cash payments or even the full bid on the day of the auction. When in doubt, ask the seller or the Bexar County Clerk for bidding and payment instructions before the day of the auction.
Step 5:
Bid on your desired San Antonio foreclosures and pay for any properties you buy. The next step is very important to protect your new ownership rights in the property. You must get a Texas property deed.
Step 6:
File your deed with the Bexar County Court Clerk, which is the official recorder of deeds for San Antonio foreclosed properties and other real estate. Do this as soon as possible after getting your property deed from the seller.
Sources:
Bexar County Property Listings for San Antonio and Surrounding Areas
Bexar County Foreclosure Website
