Free Foreclosure Lists from Your Title Company?
Why We're Better...

If you are an agent or investor who has a loyal title representative providing you "free" foreclosure lists, you may want to know what you are getting (and not getting). Your title company is most-likely making a copy from their subscription to a real estate information service called Acxiom (also known as Dataquick) based out of San Diego, CA. Another less-than-timely service goes by the name RealtyTrac.

Dataquick has many different databases available on-line or by CD-Rom. One of our affiliates has tested their on line foreclosure databases and found they are nowhere near the quality of locally collected data services.

Rather than sending staff to the counties daily to get all the defaults, trustee sales, and REOs as they are recorded at the county (as a local research firm such as ours would) -- Dataquick waits for the county recorder to microfilm all their records, and then send it to them. That film is then electronically scanned by Dataquick and put it in their main database. This process puts them at least two weeks behind any local research firm and all the firms that picked up the data manually weeks earlier.

This, of course, means you're two (or more) weeks behind everyone else in the distressed property game - making it very difficult to secure a quality deal.

Dataquick uses their in house software program to "match" the information that they scanned from the microfilmed foreclosure Notice, along with their tax assessor database. The first problem with this system is that foreclosure Notices are not standardized. In fact over 20% of all California foreclosure Notices do NOT have a property address or parcel number listed on the Notice at all.

Unless you have a person "read the legal description manually" and translate that to a parcel number and address (as a locally collected data firm does), you cannot "match up a current owner and address" on every Foreclosure Notice.

That is why the savvy investor will only use a local research firm such as ours to obtain their foreclosure data. They understand the value of seeing EVERY property in foreclosure, and knowing that the correct address is listed in EVERY case.

Because Dataquick is not a research firm, their "electronic matching" system ends up with two foreclosure databases: "Matched" and "Unmatched". The "Matched" database is for all those Foreclosure Notices that have addresses and complete tax assessor information filled in. (However, there is still a chance that the address listed on the notice was incorrect, as Dataquick does not verify the address by cross-referencing the legal description.)

The "Unmatched" database has all the Foreclosure Notices for which had no address listed. Since Dataquick cannot locate the property, they cannot provide any additional information. This incomplete information will then require you to do your own research on many properties.

In our affiliate's last count, they found that about 50% of all Dataquick's foreclosure data ended up in their "Unmatched" database! Ugh! Can you imagine how many deals you are not seeing?

The only way you can be GUARANTEED to NOT MISS a single foreclosure deal is to subscribe to our locally collected foreclosure data service here at LVDEFAULT.COM.