Foreclosure in Studio City>Question Details

Peter James, Home Buyer in Los Angeles, CA

How would I go about bidding for a particular property that I am interested in?

Asked by Peter James, Los Angeles, CA Mon Jul 7, 2014

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Answers

2
Hi Peter,

If the property is a foreclosure you can always ask the bank who is helping them with that asset or you could ask a real estate agent to help you,good luck !
0 votes Thank Flag Link Sat Nov 29, 2014
Neither of those will help you. The bank isn't going to tell you anything and are prohibited by state and federal statute from telling you anything about the loan. And, what' an agent going to for you? Your question was how to bid on a property. Again, bank isn't going to answer that and you might as well ask your six year old how to bid on a property because their answer would be just as valid as a real estate agents. Agents aren't trained in "Bidding on property".

Now, if your question is WHAT should you bid...that depends on what you want to bid and what you can bid. you should attend some foreclosure sales to get an idea of how they work. They are the same all over California. Each and every one of them starts and ends the same way.
Flag Fri Jan 9, 2015
In order to make an offer, you should contact a real estate agent in the area of the home. They can provide you with a list of the recently sold homes in that area that are comparable to the home you are interested in. This way you are able to make an educated offer.
0 votes Thank Flag Link Mon Jul 7, 2014
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