How to Find Foreclosed Homes in Indianapolis

Banks that own foreclosed homes in the Indianapolis area are increasingly turning to auctions and quick sales to unload properties, according to the "Indianapolis Business Journal." Because holding properties 90 days or longer after foreclosure affects the banks' tax liability, many lenders are ramping up the advertising and sales processes on foreclosed homes. Four main types of resources can help you find foreclosed homes in Indianapolis.

• 1

  Contact a Realtor. The Metropolitan Indianapolis Board of Realtors and the Indiana Association of Realtors offer resources to help you find foreclosed homes for sale. Directories and tools help you find a local Realtor who is knowledgeable about the foreclosed homes for sale in specific Indianapolis neighborhoods. Both organizations also publish local listings of foreclosed properties for sale as part of the real estate listings they publish for the Indianapolis metropolitan area.

• 2

  Look at auction house listings. Auctioneers in the Indianapolis area post information on their websites about bank-owned or foreclosed homes that they will auction. Indianapolis-area auction houses like Gallivan, Sperry Van Ness and Schrader Real Estate and Auction Company publish auction schedules, post real estate listings and provide details about foreclosed homes in their offices. Check auction house websites or stop by their offices to pick up a listing of foreclosed homes.

• 3

  Check Indianapolis real estate listings. Real estate portals such as Trulia and RealtyTrac publish listings of foreclosed homes for sale in Indianapolis along with their usual real estate listings for the area. Although foreclosed properties usually appear in a special dedicated section, you can also search for foreclosures listings through the main portal's search tools. Search for foreclosed homes in specific neighborhoods, by features or price with just a few mouse clicks. Realtor contact information is usually available on the listings.

• 4

  Research bank foreclosure listings. Some of the major banks holding foreclosed properties in Indianapolis post listings in order to speed the sale of the homes. Banks such as HSBC or Bank of America provide search tools to help you hone your search for foreclosed homes in Indianapolis. You can search by specific postal code, number of bedrooms, price range or by city and state.