Foreclosure in 92075>Question Details

Steve Dewindt, Real Estate Pro in Solana Beach, CA

Public Records Showed "Bank Owned" a couple of weeks ago, today it says "preforeclosure" with a new NOD against the original

Asked by Steve Dewindt, Solana Beach, CA Sun Jul 31, 2011

owner? Anybody? My clients are looking to buy in Southern CA and are fixed on this particular property. It's an REO and so it said on the public records but today it says Preforeclosure with a recently filed NOD on the records against the previous owner?
House is on the market for three months now which is for that neighborhood odd so before submitting an offer I want to know what is going on there.

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One wonders if it could be a victim of the robo-signing fiasco... It wouldn't be the first time the banks have recorded NOD's against a property that already sold.....
Web Reference: http://www.noviproperty.com
0 votes Thank Flag Link Mon Aug 1, 2011
I just received an answer of the listing agent!


"My investors opted to rent the home out. The lease is yet to be signed so I haven't taken it off the MLS quite yet. If the offer is in the $800K+ range then by all means feel free to submit it and I can have a response within 24 hours.

The lease will be signed over the weekend and the home will be taken off of the MLS at that point. As for the "pre-foreclosure" status, I'm not sure why that is."
0 votes Thank Flag Link Mon Aug 1, 2011
Thanks Glenn, I think we both agreed that something 'strange' is going on here.

Will dig deeper.
0 votes Thank Flag Link Sun Jul 31, 2011
Steve, you have to call me on this right away. I will explain why up front. 858-480-1448
0 votes Thank Flag Link Sun Jul 31, 2011
Thanks everybody, I was thinking of doing that preliminary title search myself so I will take that route most likely tomorrow.

With regards to the '3 months' remark, look it up 1011 Santa Queta, SB 92075. In that area for that price range(under 1mil), houses move pretty nicely, unless it is priced way too high of course.

If you go online to look up the PR, you'll see preforeclosure but I do have the copy saying something different 3 weeks ago!(cannot post it here but I will put it on my FB page)
0 votes Thank Flag Link Sun Jul 31, 2011
Why not ask your escrow agent to do a preliminary title search? He/she can probably best answer your question.
0 votes Thank Flag Link Sun Jul 31, 2011
Something isn't consistant here:
If it has a new NOD, it has not gone through Foreclosure;
If it has not gone through Foreclosure; it cannot be LISTED for 3 months, unless,
It is LISTED as a SHORTSALE.
But the indications are that it is Bank Owned! It can't be PREFORECLOSURE and BANK OWNED for gosh sakes!!!

I would go down the the County Records and research it, or at least have a Title Company do a Title search.
0 votes Thank Flag Link Sun Jul 31, 2011
Good point Wendy... I also have a listing in Solana Beach that has been on the market for over 3 months...
Web Reference: http://www.noviproperty.com
0 votes Thank Flag Link Sun Jul 31, 2011
Steve. . . house on the market for 3 months is not odd in Solana Beach. I live in Solana Beach and my office is here as well. You can reach me at wendy@wendy-forrester.com or 858-414-2382. I'd be happy to help you figure it out.
0 votes Thank Flag Link Sun Jul 31, 2011
If you can provide an address, I would be happy to look it up for you using alternate resources. Realist mls can be 15 to 30 days delayed and the data is entered by a firm located over in Asia which can result in errors.
Web Reference: http://www.noviproperty.com
0 votes Thank Flag Link Sun Jul 31, 2011
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