Foreclosure in 92683>Question Details

Lm, Other/Just Looking in Westminster, CA

Hello Professionals! Would you please help me to understand how can you buy a property if it has Notice of?

Asked by Lm, Westminster, CA Fri Apr 24, 2009

default?
Also what could be the final price for the foreclosure property if it has listed price of 100K? How could you check the status of the foreclosure property if there are any tax due behind it?
Thank you in advance,
LM

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5
Huy Nguyen’s answer
Hi LM,

If you really want to buy homes at a huge discount. That is one of the best resource you can have as a buyer. However; if you don't have the knowledge and a skill, you should seek a real estate professional to help you to purchase the home you like. You will save a lot of time, money, and energy to seek a professional like us. Don't try to go out there and purchase property by yourself. If you do that, you will may facing a lot of unknowns. If you want to search for active listings on the market, visit my website on the link below this message. You can search for homes national wide as well as your own local cities. You will also find a lot of resources for you to know as a buyer or a seller.

Good luck on your searching for your dream home!

Huy Nguyen

714-722-9334
Web Reference: http://www.MuaNhaNgay.com
1 vote Thank Flag Link Tue Aug 31, 2010
You can buy any property listed for sale. The Notice of Default mere begins the foreclosure process. However, it is common practice for the foreclosure to be postponed if the property is being sold. You cannot determine the auction price of the property until a few days before the auction. If a property is foreclosed upon, the bank has to pay all outstanding property taxes before selling the property. So, as a buyer, you would not need to be concerned about that.
0 votes Thank Flag Link Fri Apr 24, 2009
A house with a Notice of Default is not "listed" for sale. The Notice of Default is just a notice that the homeowner is in default on their mortgage. Websites like Realty Trac (And in turn Trulia) post those homes but they are not actually Listings. I wrote a short blog about this topic here: http://www.trulia.com/blog/dave_osborne/

Foreclosed homes are listed on the MLS through Realtors and can be found here:
http://www.TheOCmls.com
Web Reference: http://www.TheOCmls.com
0 votes Thank Flag Link Fri Apr 24, 2009
Tthe default is usually paid off when it is sold but that has to be done though title to be sure there are no liens left. As for the price you can't tell what it will be. that notice of default and $100K is what the property is in default for, not what it will sell for. As for taxes it depends on how it is sold, Auction, REO or seller or what is owed on it and the selling price. Get an agent that knows how to deal with this type of property
0 votes Thank Flag Link Fri Apr 24, 2009
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