Realist: Foreclosure Search Workshop

Transcription

1 Realist: Foreclosure Search Workshop JANUARY 11,

2 FORECLOSURE SEARCH WORKSHOP OUTLINE 1. NEW COUNTIES: ALL THE STATE IS AVAILABLE 2. Investor Search a. Search for Auctions b. View Foreclosure data 3. Bank owned property: Buy or Sell a. View all Foreclosures b. Search by Date c. Directions to properties 4. CMA: Distressed properties in Neighborhood a. Address & Mapping b. Map search with filters 5. Practice a. Pull up your own neighborhoods All All Distressed Forclosures 2

3 NEW COUNTIES: All Counties in Washington State Data is available in all counties throughout the state. Information provided will vary from county to county depending on collection practices. GIS layers not provided by all counties. 3

4 2.0 USE FORECLOSURE ACTIVITY SEARCH TO FIND PREFORECLOSURE DATA Properties that are scheduled for Auction or have already reverted back to Bank Ownership are recorded in public records and can be accessed by using the Foreclosure Activity search. 2.1 Select Foreclosure Activity Search from Search menu 2.2 Select the Foreclosure Stage: Auction Auction: (the owner has up to 11 days prior to auction to find a way to avoid process) Bank Owned: (Usually reverted back to bank after auction or arranged before, in the case of, Deed in Lieu of Foreclosure) 2.3 Select scope of Search: Individual Address, Zip Code, City: Select Land Use type: SFR (Single Family Residential* 2.4 Select Land Use using Hot Key: a) Click on <All> b) Tap first letter S for Single Family Res c) Tap S until correct selection appears 4

5 2.0 FORECLOSURE ACTIVITY SEARCH: FIND PREFORECLOSURE DATA Date fields pertaining to the preforeclosure period are highlighted below. 2.5 Select Foreclosure Dates: Auction Date: Posted Date: After bank completes default notification procedures with property owner, a Trustee is assigned and a Notice of Sale is filed by Bank/Trustee with county stating the date sale will occur. In Washington, all Auctions occur on Fridays except in case of Holiday. Date Notice of Sale Document was prepared Foreclosure Recording Date: Date the Notice of Sale document was recorded at County REO Recording Date: Date property reverted back to Bank, Lender, other financial institution or other third party due to foreclosure related proceedings 2.6 Save Search that will be used again: 2.7 Click Search to display Property List: 5

6 2.0 FORECLOSURE ACTIVITY SEARCH: FIND PREFORECLOSURE DATA Reports can be viewed in a Short List, Individual Detail Report or a Single Line View. With the Single Line View many fields and properties can be viewed on one page. 2.8 To view properties in a Single Line View click radio button at top left of window Click Refresh List button 2.9 Uncheck unneeded fields: Tax ID, City, Subdivision, etc. Click Refresh List button 2.10 Use Select All or Clear All buttons Check or uncheck desired properties 2.11 Click Map Button to view all selected properties on one map 6

7 2.0 MAPPING PREFORECLOSURE DATA 2.12 Zoom in using wheel on mouse Zoom Tools at top left change direction Or click Birds eye (AUC flags are yellow, BO are green) 2.13 Click Mini-Map on tool bar Road view displays cross streets 2.14 Close Map 7

8 2.0 AUCTION ACTIVITY REPORT 2.15 Click Details from Property List 2.16 View Foreclosure Details Auction Date & Time Original Mortgage Amount: Primary Mortgage Judgment Amount: The amount owed + expenses Mortgage Balance: = Late Payments 8

9 3.0 SEARCH FOR BANK OWNED PROPERTIES Bank Owned properties are recorded in public records and can be accessed by the Foreclosure Activity search. These properties may be searched in order to list or to sell. 3.1 Select Foreclosure Activity Search from Search menu 3.2 Select the Foreclosure Stage: Bank Owned Bank Owned: (Usually reverted back to bank after auction or arranged before, in the case of a Deed in Lieu of Foreclosure) 3.3 Select scope of Search: Individual Address, Zip Code, City, Subdivision: Select Land Use type: SFR (Single Family Residential* 3.4 Select Land Use using Hot Key: a) Click on <All> b) Tap first letter S for Single Family Res c) Tap S until correct selection appears 9

10 3.0 SEARCH FOR BANK OWNED PROPERTIES The Date field pertaining to the post-auction period is highlighted below. 3.5 Select Foreclosure Dates: REO Recording Date Auction Date: Posted Date: After bank completes default notification procedures with property owner, A Trustee is assigned and a Notice of Sale is filed by Bank/Trustee with county stating the date sale will occur. In Washington, all Auctions occur on Fridays except in case of Holiday. Date Notice of Sale Document was prepared Foreclosure Recording Date: Date the Notice of Sale document was recorded at County REO Recording Date: Date property reverted back to Bank, Lender, other financial institution or other third party due to foreclosure related proceedings 3.6 Save Search that will be used again: 3.7 Click Search to display Property List: 10

11 3.0 SEARCH FOR BANK OWNED PROPERTIES 3.8 View and Choose Bank Owned Property List: Change view from Multi Line to Single Line View data fields to the right by moving scroll bar at bottom 3.9 Check boxes of properties to view on Map 3.10 Click Map button : View Boundaries such as Zip Code at top right of window Change from aerial to Road view Zoom in on property of interest 11

12 3.0 SEARCH FOR BANK OWNED ACTIVITY REPORT 3.11 From Property List click on Detail button to view Bank Owned Activity Report 3.12 Click Property Detail button View county record of property and previous transactions. 12

13 3.0 SALES HISTORY FOR BANK OWNED PROPERTIES 3.14 View current ownership and previous sales history 3.15 Click Get Directions button to get customizable directions to property 13

14 3.0 DRIVING DIRECTIONS FOR BANK OWNED PROPERTIES 3.16a Enter Start and End Addresses manually in boxes at top right 3.16b Set zoom level to include start point and Right Click on Start point Right Click on End point to complete directions 3.17 Click on Get Directions to display written directions and route on map 14

15 4.0 CMA: VIEW DISTRESSED SALES USING MAP SEARCH 4.1 Choose county and click Get Stats button: King 4.2 Click Realist Map link from Searches menu 4.3 Type in address for Subject Property Click Find on Map button 4.4 Select Road or Aerial view at Toolbar To recover lost tool bar, click double arrow symbol 15

16 4.0 CMA: VIEW DISTRESSED SALES USING MAP SEARCH 4.5 Click Labels check boxes at bottom left of window 4.6 Select All Distressed Sales from Labels menu (BOS flags are pink, Short sale (SS) are white) Bank owned (BOS) Sales and Short Sales (SS) appear as roof flags (it may take a few moments to load) 4.7 Uncheck Labels and Search menu reappears 16

17 ALL DISTRESSED SALES: PULL REPORTS ON MAP SEARCH 4.8 Click Polygon to create neighborhood boundaries Click extreme edges of neighborhood to select 4.9 Select Add Search Filters from Task menu at top right 4.10 Click Distressed Sales Click All Distressed and OK button 4.11 Select Recording Date enter Date Range: 9/01/08 thru today and click OK 4.12 Click Find Properties to Display a Property List with Details Reports 17

18 ALL DISTRESSED SALES: PULL REPORTS ON MAP SEARCH 4.13 Click radio button for Single Line View and click Refresh List button 4.14 Deselect unwanted fields: Township, Zoning, Owner info fields, etc Click Refresh List and view columnar information using scroll bar 4.14 Use selection buttons or manually check boxes and access Print Options 4.16 Click BOS link and report will display (minimal information available). Use bread crumbs to return to Property list 18

19 ALL DISTRESSED SALES: SALES HISTORY OF FORECLOSURE 4.17 From Property List click Detail button to view Full county record of Property features including building size, bedrooms, baths and lot size Sales history including previous sales 19

20 APPENDIX: ASSESSOR MAPS A viewer software is necessary to use the Assessor map program. A program is provided for you by the vendor automatically. It is not mandatory that you use this viewer if another suitable viewer is already accessible on your computer. 1 The 1st time you click on the button for Assessor Maps a prompt to load the First American Map Viewer will appear. Click on the message at top of screen to start load of software 2 Click Install ActiveX Control to acknowledge software choice. 3 Click Install to complete download. 20

21 APPENDIX: ASSESSOR MAPS TOOLBAR Assessor Maps show lot detail and easement information for all properties in the Quarter Section A Toolbar provides a variety of tools to facilitate working with the Assessor map Rotate Zoom In and Out 21