into the treacheous waters of foreclosure real estate.
Normal transactions are difficult enough, this arena ask you to purchase without inspections, without actual time committments being honored, and a total lack of transpancy. I have been around home investing for 35 years, and my last foreclosure adventure 10 years ago
was the ont that absolutely convinced me to pay a little more in the normal MLS market, and sleep well at night.
David Cooper email@example.com
Do you know if it actually sold at auction? Many trustee sales are postponed these days to give the owner ample opportunity to try a loan mod or short sale? If it went to trustee sale, it may have been sold to a third party or gone back to the bank if no bidders. Then, other answers below apply.
Also, you can search by the property owner's name on the San Diego County Assessor/Recorder/CountyClerk's website at http://arcc.co.san-diego.ca.us/default.aspx (Use the Recorder Services link on the left side and then click on Grantor/Grantee Index Search.)
Note, however, that the property could be purcchased at the foreclosure sale by the Note holder, an investor or an individual. If purchased by an investor to hold (and rent out), or by an individual for their own use, the property may then not be available for purchase.
If I can be of help please let me know.
Cal DRE# 01330857
With an address I could tell you whether it was purchased by an investor or if it went back to the bank.
Either way, the best thing to do if you want to contact the new owner or broker is to leave your info at the front door and wait for a call (or have an agent do it). If the property is with the bank it could take a little while - a few months perhaps until it's listed. But a brokers' sign is usually placed in front long before it is listed. I have tried and tried and I haven't found a way to purchase these kind of properties before they hit the market - you just have to wait until they are listed and then compete with other buyers.
If it was purchased by an investor, then they will call you right away. I've taken this approach several times and as a result have contacted several investors who purchase at the auction. Heck, I might know who purchased the one you are looking at. If you offer the price that they were planning on listing at, there is a 99% chance that you will get it before it even hits the market.
Go ahead and shoot me an email, I'll be glad to help
Cal DRE # 01871454
Our broker purchases properties at auction on a weekly basis. Feel free to email me directly to find out the information on this home. My email is firstname.lastname@example.org
Lenders Realty, Inc
Cell: (760) 470-4945
We have had clients that buy foreclosed homes at auction. We hope you find the following helpful:
1. The notice does not mean it sold at auction.
2. If the bank did not get a sufficient price for it, they would keep it and list it with an agent.
3. If it did sell, usually the purchaser rehabs the property and resells it through an agent.
4. The people who buy the properties at auction are savvy investors and want to ensure a solid return on their dollars.
5. As stated, have your agent look up the public records to see what happened as to whether or sold or not.
6. If it did sell, you can send a letter to the owner expressing your interest to purchase.
Best to you,
Mark & Kari Shea
Shea Real Estate
Serving Greater San Diego
In the state of California as is required by most states, any transfer of title and the issuance of a deed must be recorded with the county clerk in the area where the property is located. Due to the high rate of foreclosures it is not unusual for a property to be transferred back to the bank after the sale. Therefore, since the sale if successful to an investor may take several weeks to be recorded you can check with the foreclosing bank to see if the property became a REO. The lender's information should already be available with the county clerk's office or you can easily request that information From ForeclosureCourt.org, located here, http://www.foreclosurecourt.org/ForeclosureLaws.html