Frequently Asked Questions

Be sure to also visit our Learning Center for valuable education regarding how the foreclosure process works in the state of Wisconsin.

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1. ABOUT WISCONSIN FORECLOSURE LISTING SERVICE

2. HOW TO USE WIFORECLOSURELIST.COM

3. HOW TO BUY A FORECLOSURE (Please also visit our Learning Center for more information).

4. HOW TO BUY A PROPERTY AT A SHERIFF SALE

5. GENERAL

ABOUT WISCONSIN FORECLOSURE LISTING SERIVCE

Who uses your service?
Each member uses the listings for his/her own individual reasons. You may use the comprehensive data to purchase a home at a discount for your own use. Investors may purchase a home to fix and renovate and then re-sell for a profit (often referred to as “flipping”), purchase income producing investment properties and create a portfolio for long term wealth building, purchase commercial properties or vacant land for profit…the options are endless. If you are a real estate agent or broker, a mortgage broker, bankruptcy attorney or similar professional, the listing can be used to generate new sales. Individuals in foreclosure are in need of selling their home quickly, refinancing or declaring bankruptcy. The Wisconsin Foreclosure Listing Service provides a database of potential new clients to keep business booming in a stagnant market.

I don’t want to be left behind. Will your service help me?
Investors and other professionals used to have to spend extensive time scouring through legal records and filings, wasting valuable hours that could have been spent capitalizing on the strongest foreclosure market we have had in years. Time is money-someone is snatching up the real estate opportunities out there. You will not be left behind while looking for information, it is available at your fingertips through our cost effective comprehensive listing available day and night. The Wisconsin Foreclosure Listing Service provides you, as a member, with the information you need when you need it. This gives you the ability to spend your time where it is best put to use in producing income.

Why choose wiforeclosurelist.com? What makes you different?
Multiple Counties Researched: Covering Milwaukee, Waukesha, Washington and Ozaukee counties, our extensive list includes information on single family homes, vacant land, multi-family/investments and commercial properties. We will continue to add additional counties as our growth progresses to add further value to our service for our members.
Current: We have positioned ourselves in a local market to cater to our local investors and professionals. As soon as the information becomes available to us, there is no delay in making it available to you.
Detailed: As real estate investors, we know what essential data you need to locate valuable properties. If critical information goes overlooked, it could cut significantly into your profit, if not put you at a loss. Our extremely comprehensive listings cover the items we have found to be vital in your search. (See more about what our listing covers here).
Member Tools and Support: Visit our Learning Center to gather valuable data regarding the foreclosure process. Please also take advantage of our tips and links to sources that help you achieve your goals.

What sort of customer service do you provide?
The Wisconsin Foreclosure Listing Service was started by and is currently run by two local real estate investors and property managers (one being a real estate broker in addition to investing) and their team. Our affiliate network provides us with assistance from bankruptcy and real estate attorneys, mortgage brokers, title companies, appraisers and assessors, etc. We are knowledgeable about the Wisconsin foreclosure process. Contact customer service at any time with questions or concerns and we will be happy to help you.

What types of listings do you provide?
The Wisconsin Foreclosure Listing Service provides listing information for both newly filed foreclosure listings (Lis Pendens) and sheriff sales.

What type of information will I get about each property?
For details regarding the essential information that each listing covers, click here.

What counties do you cover?
www.wiforeclosurelist.com combs through the resources available for four counties including: Milwaukee, Ozaukee, Waukesha and Washington. We will be continuing to add new counties with our ongoing growth.

The new foreclosures have subsequent encumbrances listed. The sheriff sales do not have this information. Why?
The opening bid at an auction typically consists of all outstanding amounts owed on the loan(s) that is being foreclosed upon in addition to any liens or judgment amounts placed on the property from additional parties who have joined in on a foreclosure action at the time that amount was calculated. However, months will have elapsed since the time of the original foreclosure filing and the date of the auction. Therefore, additional liens, judgments, mortgages, etc. that were not originally included in the new filing may have been attached to the property since that date and going back to the original filing will not benefit our members in those cases. In the experience of our seasoned investors, if purchasing a property at a sheriff’s sale, it is in the best interest of our buyers to check a property for any additional attachments before for the purchase of a home at an auction using the assistance of a title company or other professional.

HOW TO USE WIFORECLOSURELIST.COM

How do I take action and get started?
Don’t waste any time at all! The foreclosure market is at an all time high. Someone is going to take advantage of the income producing opportunities that these homes present…and quickly. Why not have that someone be you? Simply get started by signing up for our FREE 7-Day Trial that allows you access to all the benefits and resources of www.wiforeclosurelist.com at NO COST. For your convenience, just click on any of the Free Trial links found on each page of the website to get started. You will then have access to all of the current foreclosure postings. Pick an area of interest and start there. Save any homes that you would like to pursue in your “Favorites,” contact the homeowner by mail (or however you would like) and keep on going! Remember, persistence is key.

What if I want to cancel my subscription?
No problem and no questions asked. But, first we want to remind you not to give up! There are hundreds of thousands of foreclosures all over the United States and the opportunity to produce income from them is unbelievable. Countless people have been set financially free from one or two successful deals. It can and does happen every day. You may come across 20 properties that end up not being for you, but that SINGLE PROPERTY that makes you more money than you may make as a yearly salary could be the very next property you pursue. Our goal is to see our members succeed and we know you can do it. We are here to help you get there. You can cancel at anytime during your seven day trial and incur no additional charges-there is no obligation or risk to you. Simply login and access your profile from the members section and select the cancel option to end your subscription. An email will be sent to your address on file to confirm your cancellation. If you do not receive this email, please contact us at contact@wiforeclosurelist.com to ensure your account was cancelled. To continue to access the benefits of the website past your free trial, you pay $49.99 a month or approximately $12.50 a week to continue your subscription-less than the cost of a tank of gas-to give you the keys to wealth producing opportunities. If you are past your free seven day trial and are a member, simply follow the same steps as above. Your membership will be cancelled effective the next billing period. You will have access to your account until that date.

HOW TO BUY A FORECLOSURE

How do I purchase a foreclosure before an auction?
The properties are still in the control of the homeowner up until the point of the Sheriff’s Sale. Therefore, it is best to contact the homeowner directly and negotiate the purchase with them. While there are several methods that can be used to approach them, typically our members send out a letter or a postcard. This can easily be done through your membership with Wisconsin Foreclosure Resource. Simply place the properties you are interested in into your “favorites” profile and use the data to create mailing labels for your use.

Do I have to find a real estate agent to help me buy these homes?
No, you do not need a real estate professional to find a foreclosed home. You may contact these homeowners directly. If you feel that you do need the assistance of a realtor, you may contact one of your choice or click here to be contacted by a local, knowledgeable agent who is familiar with the foreclosure process and investment properties.

How can I be sure how much the properties are actually worth?
The Wisconsin Foreclosure Listing Service reports the assessed value of each home. This is the value that the city, town or village has placed on each property-however, this number does not always reflect the fair market value due to market changes and conditions of the property. There are several methods you can use to determine value, including asking a real estate agent for assistance in researching with other homes in the area have been selling for or retaining the services of an appraiser.

How can some homeowners owe more than what their original loan was?
Payments and amounts owed may increase based on the number of missed payments and the late fees that have been added due to the foreclosure process.

What happens if nobody buys the house while it is in the beginning stages of foreclosure and the homeowner does nothing about it?
If nobody purchases the foreclosed property, it will be sold at a public auction (called a sheriff sale).

HOW TO BUY A PROPERTY AT A SHERIFF SALE

Where and when are the sheriff sales held?
Each county holds their sheriff sales on different days and times of the week. The Wisconsin Foreclosure Listing Service details the dates and times of each sale in our listing for your reference.

  • 1. Milwaukee County: Sales are held every Monday morning at 10:30 a.m. at the Milwaukee County Courthouse located at 901 North 9th Street, Milwaukee, Wisconsin. Visit http://www.county.milwaukee.gov for more information.
  • 2. Waukesha County: Sales are held every Monday at 9:00 a.m. in the Lobby of the Sheriff's Department Justice Center, 515 W. Moreland Blvd, Waukesha, Wisconsin. Visit http://www.waukeshacounty.gov for more information on Waukesha County Sheriff Sales.
  • 3. Ozaukee County: Sales are held on Mondays and Thursdays at 1:00 p.m. in the lobby of the Ozaukee County Courthouse. The address is 1201 S. Spring Street, Port Washington, Wisconsin. See http://www.co.ozaukee.wi.us/ for more information.
  • 4. Washington County: Sales are held every Wednesday morning at 10:00 a.m. at the Washington County Courthouse. The address is 432 East Washington, West Bend, Wisconsin. Visit http://www.co.washington.wi.us for more information.

Who is legally able to conduct a sheriff sale?
While a county sheriff may handle the proceedings, the court may appoint anyone of its choosing to conduct the sale.

How can I make sure that there are not any other liens or judgments against a property before I buy it at auction?
There may be liens, judgments or other encumbrances against the property that through purchase you will be responsible for at the time of purchase. Some of these items may not be attached to the property until right before the sale or may not be in public record in error. We recommend a title search before purchase of any properties to ensure you are aware of all items that may come along with the purchase.

How do I know how much money I should bring to an auction?
Our listings detail approximately what the opening bid will be at the sheriff sale. However, due to last minute fines or penalties, this may vary. Prior to bidding on a property, come to the sale knowing what it is worth to you and what you are willing to purchase it for. Investors normally bring multiple certified checks that will total to the amount that they are willing to pay.

How much do I have to pay if I am the winning bidder at a sheriff sale?
If you are the winning bidder at the auction (opening bid will be determined based on the amount owed the lender including the loan amount, late fees, attorney costs, etc.), you are commonly required to pay 10% of the purchase price right away with cash or a cashier’s check. You will then coordinate payment for the remaining 90% with the plaintiff’s attorney after he completes a Confirmation of Sale. The last 90% will be due within 10 days paid in full.

What risks are involved when buying a property at a sheriff sale?
All properties are sold "as-is," meaning most of them may need some work. In most cases, be prepared to put some TLC into them once you own them.

Are there a lot of people at the sales that I will be competing with?
There are many variables that determine the outcome of sheriff sales. Some days there may be several people bidding for the same property. Other days, due to inclement weather or simply due to a poor turnout, there may be little or no competition. It is a numbers game-the more you attend, the more you will be able to purchase under your own desirable terms.

Do auctions ever get cancelled?
Yes. There are several reasons why this may occur. The homeowner may have been able to bring their loans current with their lenders, the owners may plead bankruptcy, they may refinance (although this is rare due to the fact if they are already in foreclosure, their credit scores are normally not high enough to qualify) or they sell their properties to someone before the sale.

What happens if nobody buys a property at the sheriff sale?
The property is purchased back by the bank for the amount that is owed to them. At that point, the property becomes an REO or Real Estate Owned. The bank may choose to sell the property through traditional means (a real estate agent) or sell the properties in bulk through wholesaling to investors or other purchasers.

GENERAL

Is there anything else I should know about buying foreclosures or buying a property at a sheriff sale?
Yes! Take advantage of the opportunity they provide! Every week, countless properties are acquired both before the auction directly from the owners or through public sale. Unbelievable amounts of profits are made by the new owners. Armed with the right information, the potential is limitless for what you can do for yourself and your families. Maybe your goal is to retire from your current profession and create financial freedom through residual income…or maybe you would like to simply generate another source of revenue to enrich your lifestyle…possibly you are just looking for your own home to buy at a discount…or it could be you are a professional looking for sales leads…the Wisconsin Foreclosure Listing Service provides the tools you need to achieve your own personal goals for success. All you need is information, partnered with desire and action, and the rest will follow.

We will see you at the top!

Don’t delay in getting started.
Click here and get on your way with our Free Trial TODAY!