Foreclosure in Santa Clarita>Question Details

Chrisrod91%4…, Home Buyer in

i am looking to buy this house but i need more information on the forclusre auction day for the house how do i go about it ?

Asked by Chrisrod91%40yahoo.com, Thu May 17, 2012

Help the community by answering this question:

Answers

6
There are a couple of ways to go about it. Notice of Sale is a public document that can be researched at the hall of records. You can subscribe to different services, such as "Foreclosure Radar", where you can get a copy of the recorded documents. You need to call the trustee listed on the document a day ahead of time to see if the sale has been postponed of not, before you go through the trouble of going to the sale and find out it has been postponed.

If you are going to try to buy the property at the trustee sale, you need to bring cashiers checks for the full amount. There is a lot of competition at the trustee sales and expect to get the property for no more than 10 to 20% less than you would buy it retail.

Or, you can have an agent like me do the leg work for you. http://www.BillBoyd.com
1 vote Thank Flag Link Fri May 18, 2012
Great answer, Bill. Very true!
Flag Fri May 18, 2012
CHRIS, IT WOULD BE GREAT TO HAVE THE ADDRESS OF THE PROPERTY TO BETTER ASSIST YOU AND FIND EXACTLY AT WHAT STAGE OF THE FORECLOSURE THIS HOME IS IN. MANY TIMES THERE ARE AUCTION DATES SET AND ARE POSTPONED BY THE LENDER FOR A NUMBER OF REASONS. IF THE HOME IS STILL OCCUPIED IT MAY BE POSSIBLE TO REACH OUT TO THE HOMEOWNER AS WELL.

I CAN RESEARCH THIS INFORMATION AND DIRECT YOU SHOULD THIS HOME BE GOING TO SALE SOON AND THE PROCEDURES YOU WILL NEED TO TAKE TO PURCHASE.

MY SERVICES ARE COMPLIMENTARY, YOU MAY CONTACT ME DIRECT AT 626.893.6070 OR EMAIL ME AT NANCYCELISC21@LIVE.COM

BEST OF LUCK TO YOU!
0 votes Thank Flag Link Thu May 17, 2012
Chris,

It is interresting that most of the responses from agents are looking to give you options where they make a commission. If the house you are interrested in is going to foreclosure then you want to go to the trustee sale. Auction sites and properties on the market are probably not going to be your best deals. There is always a mark up. If you want a foreclosure home at wholesale prices you need to go to the trustee sale. I have bought property for myself and for client this way for many, many years. The best deals are at the trustee sales. It does require cash and most agents are not all that familiar with trustee sales because there is usually no commissions on trustee sales. If you want to know more call or email me anytime. I can tell how to do it step by step and I am happy to do so free of charge.

Thanks for the question,
Rich Szerman
Silver Creek Realty
661-253-3000
661-714-1400
rszerman@silvercreekrealty.com
0 votes Thank Flag Link Thu May 17, 2012
Chris, buying a home at Auction sounds good in theory but the reality is not so easy or beneficial. It has been my experience that most homes that go to auction are in lesser locations or have much work needed. The homes need to be paid for at the end of the auction, they are sold as is and you need to make a large deposit that will, in many cases, be lost if the sale is not completed. You will also be bidding against savvy buyers and investors. It will take a lot of time and the home may not be sold without reaching a minimum bid. Call are truly professional, local Realtor and have them do what they do best. That is give representation to you and your best interest. Call me anytime!

Tony Lewis RE/MAX of Valencia
Web Reference: http://www.TonyLewis.com
0 votes Thank Flag Link Thu May 17, 2012
Foreclosureradar.com is your best resource for auction sales dates. You can sign up for a free trial membership, and research this property or any other that is scheduled for forclosure sale. If you wish to continue membership, it's about $50/mo, but if you just need info on this property you can cancel before the first billing cycle. If you need help using the site, please contact me and I'll be happy to walk you through. I use it regularly to assist my investor clients.

If you plan to buy at auction, by the way, be sure you have CASH. Sales at the courthouse are always cash sales. If you require a loan to make your purchase, and the home does not sell at auction, you will likely have an opportunity to purchase it as an REO sale on the open market soon after.
0 votes Thank Flag Link Thu May 17, 2012
Additionally, many auctioneers at these sales offer reasonably priced "training" for new investors who don't necessarily know the ropes. So attend a sale (they occur daily all over SoCal), observe the process, and speak to the auctioneers afterward. You'll gain a wealth of knowledge just by being there :)
Flag Thu May 17, 2012
Whatever the address, you will not have an opportunity to buy it until it hits the market as a short sale or bank-owned home.

If you give me the address, I will be happy to reach out to the owner to see if they are open to a short sale.

Thanks for your time and I look forward to your reply.

Eddie Momeny
Realty Executives
661-860-1408
emomeny@gmail.com
0 votes Thank Flag Link Thu May 17, 2012
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2014 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer