Bp, Home Buyer in Torrance, CA

please let me know the buying process for this home. I am pre approved w/ excellent credit

Asked by Bp, Torrance, CA Mon Jul 20, 2009

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This question is about this property: http://www.trulia.com/foreclosure/map/2004406566--Avenue-D-R…

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This home has just been given a Notice of Default and isn't necessarily available for purchase....yet.... In this type of situation the owner may or may not be interested in selling the property. They may have missed their mortgage payment(s) and plan to come up with the funds to continue to pay on their loan... Also, if they were interested in selling it, they will generally hold out for something closer to market value and it will not necessarily be sold for their loan balance which was the amount posted here. If you want further information about what steps to take next, I'd be happy to go into further details with you by phone. Kristen Novoa, Shorewood Realtors (310) 798-4663 http://www.SouthBayOpenHouse.com.
0 votes Thank Flag Link Mon Jul 20, 2009
BP,

Unfortunately that home isn't actually for sale. Unfortunately Trulia gets their foreclosure data from a company called RealtyTrac. RealtyTrac simply scours the public records to find any notice of defaults and other information but doesn't filter any of it to determine if is actually for sale. As Trulia uses this information on their website it, incorrectly, shows up as a home that's actually for sale. In the South Bay the market is still very strong and if there's a deal that's too good to be true....it usually is. When an actual foreclosure does come onto the market, even if it's priced well the demand is so great that it usually ends up selling for market price, which in the "Avenues" area of Redondo is about 4 times as much as the price they have posted. Hope that the information is helpful
0 votes Thank Flag Link Mon Jul 20, 2009
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