Property Q&A in Brentwood>Question Details

Yyyham, Home Buyer in Outside U.S.

Could you please tell me something about how to know more about this type of Foreclosure such as what is a "FORECLOSURE' and how to buy it. Thanksalot

Asked by Yyyham, Outside U.S. Sat Jan 26, 2013

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This question was asked from this property: http://www.trulia.com/foreclosure/3105388255--Canyonback-Los…

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First of all, this property is NOT for sale
Second, if something seems to good to be true, it is. This is not the price the property will sell for.
Third, foreclosure sales occur on the County court house steps, they are an auction so others have a chance to bid on the property. It requires all cash at the time of sale, there is no Title insurance and you cannot go inside the property to check it out prior to purchase.
1 vote Thank Flag Link Sun Jan 27, 2013
Buyer after checking I see there are 4 auction properties and 3 preforeclosure properties that fit the critieria you mentioned. Please give me a call and I can share what i have found.

Thank you

Katherine
951-538-4126
0 votes Thank Flag Link Sat Jan 26, 2013
I'm not at USA now so its inconvenient to call you. Is this email address yours? thehousekat@gmail.com Could I contact you via this? In addition i'm not a english speaking country people so if i spell wrong or express improper please forgive me thanks
Flag Sat Jan 26, 2013
Hello Buyer in this area of Los Angeles I have checked and there aren't any bank owned properties showing currently..The critiera has been saved in my search engine and the minute it hits the market I can let you know. Please contact me via email (thehousekat@gmail.com) or cell(951-538-4126)

Thank you and I will notify you when I get more info...

Gods Favor

Kat
0 votes Thank Flag Link Sat Jan 26, 2013
Or contact me via skype? my skype name is yyyham . Can we talk by skype phone? thanks for your reply.
Flag Sat Jan 26, 2013
This particular property is foreclosed or in other words, owner was unable to make their mortgage payments - and therefore the bank has taken over ownership of the property. At this point, it cannot be bought unless it goes to Auction. If it doesn't sell at the Auction, or the bank chooses, then it will be sold as a REO (real estate owned/bank owned property) in which case it will be listed by an agent and open for anyone to place offers. Until it states that it is in Auction, or listed by an agent - no one can buy it. Keep in mind, that at this point you do not even know the actual address of the property or how much the bank is going to sell it for. Given the area, and its size - it is going to be a pretty costly piece of property. Basically all Trulia and Realty Trac is doing is letting people know that the Bank has taken possession. As far as how to purchase - You would have to be pre-approved and have the money for the down payment in your bank - or the full amount if paying cash, but I can't say for what amount yet. If you go to the Auction, I would suggest talking to an agent that does Auctions and if it goes into REO listing - many agents are available to help you make your offer - just be prepared to act quickly!
0 votes Thank Flag Link Sat Jan 26, 2013
This property is a foreclosure and is not currently offered for sale.

I have address and all information - call 424-777-9377



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0 votes Thank Flag Link Sat Jan 26, 2013
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