darleneriord…, Home Buyer in Santa Barbara, CA

I want to buy this house for $30,000. How do I do this?

Asked by darleneriordan, Santa Barbara, CA Mon Sep 26, 2011

This question is about this property: http://www.trulia.com/foreclosure/3060944242--Sycamore-Canyo…

Help the community by answering this question:


What you have seen on Trulia is a notice of default or foreclosure posted by Realty Trac which is a reporting service. Realty Trac takes information from public records and provides it by subscription to its members who have registered and agreed to pay a fee for the information. What you see on Trulia is an abbreviated report from Realty Trac in order to entice you to sign up for their service.

It is unlikely that you will be able to buy this house for the price posted on Trulia. That is the amount of a default and has no relationship to the value of the property. The house may be offered for sale at a later date but it will most likely be listed with a Realtor and priced at a price that reflects the market price for the area.

If you are serious about buying a house, you need to align yourself with a full-time, experienced local Realtor who can help you to find the house that meets your needs. Your Realtor can help you to learn about the current market conditions, realistic house prices, loan qualifications, negotiating strategy, escrow management, inspections and everything else that goes into the purchase of a home.
0 votes Thank Flag Link Mon Sep 26, 2011
Who wouldn't? RealtyTrac is not fool proof.

There is a house that has a Notice Of Default recorded against it which is in the aerial photo on Trulia. However, the original loan amount on the house was $330,000 not $30,000. Somewhere along the line, a digit was dropped.

If it sounds too good to be true, . . .
0 votes Thank Flag Link Mon Sep 26, 2011
Yes, we all do. None of these properties from Realty Trak are actually available. It's too bad Trulia allows them on the site.
0 votes Thank Flag Link Mon Sep 26, 2011
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