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Erni, Home Buyer in Northridge, CA

Is there Mello Roos on this property and as a buyer what are my options being this property on Pre-foreclosure?

Asked by Erni, Northridge, CA Tue Dec 18, 2012

This question was asked from http://=www.trulia.com%2Fforeclosure%2F3103794554--Summer-Grove-Pl-… target="_blank" rel="nofollow">http://www.trulia.com/foreclosure/3103794554--Summer-Grove-P…

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Good morning Erni,

There are speciall assessment on this home, not necessarily Mello Roos; however, it was sold before it went on the MLS.

As a buyer, your best option is to work with a local real estate professional who works in the area that you are interested in. I have information on every tract and custom home in the Santa Clarita area because I work here almost exclusively. Inventory is very low at the moment, so it is really important to have someone who can watch the MLS for you very closely, so you don't miss any opportunities. I can make sure you and I are notified of your desired listings the moment they show up on the MLS. Why don't we meet in my office to discuss your pre-foreclosure purchasing options.

Liliana West
REALTOR®
Troop Real Estate, Inc.
661-433-9378
0 votes Thank Flag Link Tue Dec 18, 2012
Erni,

This blog post covers the details and how you can research what makes up a tax bill for most any property (you will need the numerical address of the Summer Grove NOD property):

"Estimating Property Taxes in CA"
http://www.trulia.com/blog/steve_ornellas_mba_re_mastersgri/…

As a pre-foreclosure, and assuming the property is not already listed as a Short Sale, you only have the option of contacting the owner if they are interested in a Short Sale. However, if interested, the Seller would likely list the property on the MLS to maximize price in order to minimize taxable debt relief (given as it stands right now the Debt relief act is sunsets 12/31/12.)

For you own edification on the foreclosure process see:
http://www.foreclosureradar.com/foreclosure-guides/foreclosu…


There are three types of "foreclosures". Here's a quick summary of each type from most-to-least risk perspective:

1) Trustee Sale
Property literally sold right outside of the court house. AS-IS. Seasoned investors need only apply. Cash/Cashiers Check only!

2) Auction Company Sale
An actual auction with you bidding in a pressure environment with a much larger group than #1 has. AS-IS. Best for those who can walk a home and calculate refurbishment costs on the fly IF an investigative period has been allowed. Perhaps, you might even attend one to see “how the sausage is made” and how comfortable you would be if you went this route.

3) REO foreclosure
Listed on the MLS. AS-IS. Formal inspections allowed! Guidance from a Realtor®.

As far as RealtyTrac, in my opinion, why pay for what most any Realtor® can provide you for FREE?

If you really want to have the most up to date information for ACTIVE Foreclosure listings team with a local Realtor® who can set you up with an automated search for what you can afford.

-Steve
0 votes Thank Flag Link Tue Dec 18, 2012
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