What advise would you provide when billding on a foreclosed property that is being sold at a trustee sale?

Dmmulkey
Dmmulkey
Other/Just Looking
94526

Sat Jul 11 2009, 11:14 - Foreclosure in 94526 - 2 answers
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Scott Summers
Scott Summers
Broker
San Ramon, CA

Hi. 1. bring all cash. 2. find out if there are any IRS liens on the property. 3. Make sure you know what is the position of the loan being foreclosed, i.e. 1st, 2nd etc. If your bidding on the 2nd, guess what, you get to inherit the first loan. Essentially, you need to feel comfortable that you fully understand what liens will get wiped out at the sale which ones won't.

Web Reference: http://www.sanramonagent.com
Sat Jul 11 2009, 14:00
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Johnny Huang, M...
Johnny Huang, M...
Broker
Pleasant Hill, CA
FIRST ANSWER

I'm sure what you are asking but don't building anything unless your name is on title.

Sat Jul 11 2009, 11:26
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