andz909, Home Buyer in Rancho Cucamonga, CA

How do I go about buying this house?

Asked by andz909, Rancho Cucamonga, CA Wed Nov 30, 2011

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You'll have to wait for either the property to be listed as a preforeclosure or wait for the bank to foreclose and then list the property for sale.
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0 votes Thank Flag Link Wed Nov 30, 2011
You don't go about buying this house for $60K plain & simple. Ain't happenin', Realty Trac does not posted actual list prices or prices that reflect current value, they're only reflecting an amount that the owner is in default by or it represents a 1st or 2nd lien. In this case, it's probably a 2nd lien.

If / when this home comes on the market as either an REO or short sale, it will likely sell for around or over $375K based on the size.

If you are looking for a $60K property, it'll be a condo & probably not in Rancho Cucamonga. I'm a "just the facts" kind of gal. If you would like to talk to me about what's out there for you, Shoot me an email directly, I don't look back on this same Trulia thread for answers posted after mine.

p.s. I do have a pre-foreclosure property for you just on the north side of Victoria Park for $284,500, 4b w/ over 1900sqft if you're interested I can email you photos. It's currently not being publicly marketed as an Active listing, so no competition!
562-430-3053 c
Realtor Since 1996
Main Street Realtors
0 votes Thank Flag Link Wed Nov 30, 2011
Correction, the default amount is $5,721 and the outstanding loan amount is the $60,000 listed.

0 votes Thank Flag Link Wed Nov 30, 2011

What you are looking at is a property that is in pre-foreclosure. What that means is that they are a few to several months behind on their payments. The house is not currently for sale, as it has not be foreclosed on yet. The amount that is shown here is not the sale amount, but rather the default amount (amount owed to become current). There are still ways that you may still be able to purchase this home before it goes into foreclosure, but you will be paying close to market price as you would with any sale.

If you would like I could explain that process further and we can talk about potential options for you.

Feel free to give me a call anytime.
I look forward to hearing from you!

Craig Chastain
Next Level Realty
0 votes Thank Flag Link Wed Nov 30, 2011
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