When a foreclosed property is not sold during auction , the title automatically reverts to the lender holding the lien. Knowing the timing of foreclosures can result in a great advantage to the savvy investor. Foreclosures are often publicly announced by the county or through newspapers ads.
Another opportunity presents itself, the longer a property has set on the market. Naturally, the financial institution is trying to cut its losses and may be more willing to accept a discounted price, if the property has not sold over a longer period.