However, don't limit yourself to foreclosures -- these can be very difficult to actually close on as the banks are very backed up and seemingly take forever to respond. Instead, tell your Realtor what you are looking for and in what price range and let us find the right property for you, whether that is a foreclosure, short sale, REO, or just a well priced home!
After the foreclosure happens (at the trustee sale) it could take several months for the property to get onto the market via the MLS. Only certain agents deal directly with the banks.
The banks also don't care to deal directly with the public. I work with many of these agents, so if you're interested in getting some lists, give me a call.
Keller Williams Realty 310-409-8592
If it is offered for sale at the Trustee's Sale, and no investor buys it, the lender will take it back and usually give it to a local broker to market and sell - which is what most buyers consider to be a "foreclosure". In reality, even in a slower market, these are almost non-existent in Manhattan Beach. There are however, presently "Short Sales" available for sale in MB - where the lender has agreed to accept less than the amount owed on the loans on the propery.
If you would like to search for homes for sale in Manhattan Beach - including Short Sales click the link below.
Let me know if i can help. ManhattanBeachRE.com
DRE # 01184302
There's really only one place to find all the the short sales and REO properties for sale, on the local Multiple Listing Services along with almost every other property for sale that's not a FSBO (for sale by owner,) or courthouse steps sale. Pretty much any other source of information is derived from or duplicates these listings. The easiest way to to shop for real estate is to get a good agent and watch for new listings as they become available. The commissions are going to be built into the sale anyway so you should take advantage of this and get your own professional representation. You'll also need to pre-qualify yourself for financing so you're prepared to act decicively when you find a good deal. It doesn't matter whether it's a 'forclosure' or not.
Best of luck.
There is a science to having success with bank owned properties and you need a professional in your corner
If you are serious and interested in saving money, then drop me a line
First Team Real Estate
If you are looking for an REO (Real Estate Owned) home, which is a home that the bank foreclosed on and it was not purchased at the courthouse steps, then you want to find a professional realtor that works the South Bay. These homes are sold by the banks through the MLS and a local realtor will find them for you.
If you want to contact me, I would be happy to explain the various options to you in detail.
Kristen Novoa, Realtor, M.A., Notary, CIPS, Director SBAOR