Property Q&A in 91355>Question Details

Ashley Green, Home Buyer in Valencia, PA

Who do i get a hold of to place a bid on this house? How much so they really want for it?

Asked by Ashley Green, Valencia, PA Thu Sep 18, 2008

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This question is about this property: http://www.trulia.com/foreclosure/2002796620--Via-Novia-Vale…

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2
Frederick is correct...It's also a bit obvious that the loan is a second because of the amount versus the market value of the homes in that particular community (near $500's/$600's). I know it can get confusing when you see a foreclosure record showing an amount like $100k, for a nice home/area. It's simply the amount of the loan (in this case just ONE of the loans). If the owner really only owed $100k on a house worth $500k+, it's very unlikely they'd ever let it go to foreclosure...in that situation they'd find a way to save the home with their equity. Likewise, let us know if we can help!
Web Reference: http://www.TheScvAgents.com
0 votes Thank Flag Link Thu Sep 18, 2008
Ashley,

I checked my records for the house that you requested. First, a NOD (Notice of Default) means that the owner has missed some payments and the Bank is starting the process to auction the house off. In California the process takes 111 days. When the auction is announced with a NTS Notice of Trustee Sale the date and location will be published. It is usually held at the Court House in Norwak, another factor to consider is that at this auction it is all cash. which means you need to have a cashiers check up to the amount you want to bid.

On a side note, the loan in default on this house is the second, so most likely it will not go to auction, the first will pick it up.

For more information on properties that are in the foreclosure process, short sales process or bank owned, please contact me @ (661) 755-5834
Web Reference: http://www.fred-roy.com
0 votes Thank Flag Link Thu Sep 18, 2008
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