Property Q&A in Lakeside>Question Details

romancingsce…, Home Buyer in El Cajon, CA

Why is this so cheap? Is this in a trailer park or on land?

Asked by romancingscents, El Cajon, CA Sat Jul 7, 2012

This question is about this property:…

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Hi There,

The price you see isn't a sales gimick, it's a property that's had foreclsure activity, and that's what RealtyTrac follows, foreclosure activity. And, since Trulia and sites like it, get feeds from these sites, you're seeing this property here. Notice, the listing doesn't say "For Sale," it just says "Pre-Foreclosure." This means a Notice of Default was filed agianst the property, which is a matter of public record. An amount of $25,000 most like means the second, or even third, lien holder is foreclosing. The loan(s) in front of it still has top be paid. This means if there's a first loan balance in the amount of $250,000, that will have to be paid too.


Cory La Scala, REALTOR
Independence Realty
0 votes Thank Flag Link Mon Jul 9, 2012
This is just a way of getting someone to click on the link and takes you to a "register here" tab on another website, probably to obtain your information and sell it to other people. I wish trulia wouldn't allow false advertising like this because it confuses people.

There is not a foreclosure for $25,000 on that street, if you are looking for foreclosures you need to determine how you are going to buy. Are you going to buy at auction with all cash (no loan) or are you looking to finance your purchase.

If you finance, you should definitely hook up with an agent and have them send you MLS listings which also contain REO's or Bank Owned Foreclosures that are actually ready for sale.

If you'd like to be added to my email list that will send you up to date available homes for sale including foreclosures, please send me an email and I can add you right away.

Happy Home Searching. :)

Valli Lopez
CA DRE 01810641
619.916.9595 direct
0 votes Thank Flag Link Sat Jul 7, 2012
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