Foreclosure in 94518>Question Details

Monica Campos, Renter in Concord, CA

How does one go about purchasing a home at a trustee sale or auction? How do I find out what homes are available?

Asked by Monica Campos, Concord, CA Sun Apr 10, 2011

I live in Contra Costa County in California.

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6
Monica that's dangerous waters. Usually all cash. I read one thread that was posted on Trulia where the buyer thought he bought a million dollar home for $370k and it turned out he bought the 2nd lien which is worthless.

Theres tons of things you need to know to make a wise purchase. And, if the property is priced right the pros will out bid you or sucker you into a bad deal. Be careful. Better than that, just forget this.

Happy funding, Rudi
Web Reference: http://www.umboc.com
0 votes Thank Flag Link Tue Apr 12, 2011
Thank you for your question about purchasing a home from a trustee sale or auction. Please be advised that the first step in purchasing a home is to figure out how much you can afford. Then interview buyers agents, telling them exactly what you want and how you want to do. See what they at least three agents say. You have to talk to a few people because they all have different experience and know what questions to ask you about what you want to do. Honestly, I do not recommend auctions in their current form because I know so much theory.
0 votes Thank Flag Link Tue Apr 12, 2011
Monica you really need to know what you are doing and do your homework to tackle the auctions, most auction buyers have cash becuase the sale is not contingent on you getting a mortgage there is no inspection contingincies, you get it as is. if there is soemone living there, you are getting them out and last you need to search the deed for any liens, becuase as the buyer at auction you would be resoponsible for thise too. Buying homes alreay foreclosed on with clean titles, free of occupants and cleaned out and readied for sale are best,
Web Reference: http://www.ScottSellsNH.com
0 votes Thank Flag Link Tue Apr 12, 2011
Monica,

Trustee sales are not a walk in the park. The prices may seem good but they are tough to come by. Typicall all cash is required and you have to check the courthouse daily (since situations change) if you find and can get some due diligence done in advance. Consult an agent for best and more detailed infomation
Web Reference: http://bob2sell.com
0 votes Thank Flag Link Tue Apr 12, 2011
Monica,

Trustee sales are not a walk in the park. The prices may seem good but they are tough to come by. Typicall all cash is required and you have to check the courthouse daily (since situations change) if you find and can get some due diligence done in advance. Consult an agent for best and more detailed infomation
Web Reference: http://bob2sell.com
0 votes Thank Flag Link Tue Apr 12, 2011
Hi Monica,
You may want to speak with a realtor who will walk you through all options including auctions.
Good luck to you,
Suzanne Looker, http://www.suzannelooker.com
0 votes Thank Flag Link Sun Apr 10, 2011
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