Sneeze… Here’s a Foreclosure.

foreclosure, real estate, kansas, missouri real estate


God Bless You.  Here’s a Kleenex.
{handing you toilet paper} 

Really.  I handed you a toilet paper & called it “Kleenex”. 

Well, this happens when you use a word generally and expect something entirely different.

As far as Real Estate is concerned, I hear the statement all the time, “I want to buy a foreclosure.”

Well, after over a decade in Residential Real Estate in Kansas & Missouri, I can honestly say, this is not an easy task.  Mainly, the formation of the question, welcomes a great deal of misinterpretation.

I encourage the challenge, but there is more to the question than meets the eye.   So, let me explain the nuances of what foreclosures are and what procuring one might actually entail.


As far as Foreclosure or Short Sale designations, there is no easy filtering mechanisms other than distinquishing with the listing description.  In Kansas & Missouri, Short Sales have to be dislcosed, so merely catching the description remarking “SHORT SALE” should be enough.

Foreclosures are hard to distinquish because it depends on what stage of the process the foreclosure is in.   Frankly, its all about timing.  Since time dictates what stage the foreclosure is in, here are the 3 stages a home could be in to call it a “foreclosure”:

This is where the Bank has given notice to the homeowner that they are making plans to sue and giving the appropriate notices.  

property condition? The homeowner can still occupy and yet some hear the footsteps and choose to vacate.   Regardless, at this juncture, family & friends are fully aware of this loved-one’s circumstance and sometimes the grass-roots networking starts here.  

where to find? Sometimes, these properties aren’t even listed anywhere.   Some companies claim they have the whole-list of foreclosures, but you can imagine this list changes daily.   Companies can obtain public information and create lists by the legal filings, but the foreclosure decision hasn’t actually happened — it’s just begun, so we would still call this a “foreclosure” home.

Actual event of the foreclosure judgement.   This is the FORECLOSURE.  This is where the Sherriff hands the Deed over to the suing party (or another bidder), like you. 

property condition? Most-likely by now the Property is vacated and probably seen a great deal of duress on the property itself.  Significant amounts of money to get back up to “good” condition.  In some cases, the homeowner just vacanted and the chances of little work is decreasing.

where to find?  City Hall Courtroom steps & legal filings.  Each county has a protocol on how they perform these sales.  But, the traditional method is the Sherriff’s deputies show up on an announced day on the Courtroom Steps with a pile of legal files and announce each law suit individually.  If anyone would like to purchase for the amount of the suit, then this is a chance to snag it.  But, be careful, although it sounds easy & sweet, the bitter taste of a bad purchase is unrevokable.   There are too many experts at this and I would not advise this method, as this is reserved for the saavy professional or get a REALTOR, like me.

3. POST-FORECLOSURE. The foreclosure is a success and the Bank now owns the property.  These are typically called “Bank-owned” or “REO” {Real Estate Owned} properties.

property condition? These are properties that have been sitting vacant for 30-90 days at a minimum.  There is great chance of water damage due to the lack of attention and routine physical care.  Plus, quality air-flow has ceased and can cause additional  issues with the overall condition of the property. So, if you see a REMARK say, “Bank owned”, “FHA” or “REO”.  

where to find?  via a REALTOR like me.  These are fun to buy and depending on the circumstance they can be quite the deal.

Okay that’s it class.   Class dismissed.

Have a Real Nice Day,
Founder of and is a licensed Realtor in Kansas & Missouri, brokered by Reece & Nichols REALTORS in Leawood, Kansas (on the border with Missouri).


About realnice

Andrew is Founder & Owner of, a real estate company that helps clients identify properties for purchase or sell existing homes.
Gallery | This entry was posted in Buying a Home, Home Care & Maintenance, Kansas Real Estate, Missouri Real Estate, Real Estate, Selling Your Home and tagged , , , . Bookmark the permalink.

1 Response to Sneeze… Here’s a Foreclosure.

  1. What a great article you wrote here Andrew. Great information. Thanks for putting this together to inform those of us who only really only knew the “misconceptions” about foreclosures! 🙂

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