Property Q&A in Torrance>Question Details

David St. Cyr, Home Buyer in Torrance, CA

Are there any liens against this property? and how do I go about finding out the price and how to purchase ?

Asked by David St. Cyr, Torrance, CA Tue Jan 27, 2009

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This question is about this property: http://www.trulia.com/foreclosure/2003577221--Shadycroft-Ave…

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Answers

2
David:

As posted before, RealtyTrac is confusing at best and downright wrong at worst. This property went back to the lender on 01/11/2009. The foreclosing lender was in 2nd position behind a 1st TD of $354,000 which was also in defaul and which was cured by the 2nd TD lender.

This property is not currently listed (although it may be soon) nor was it ever listed for sale during the entire foreclosure proceeding which started back in January 2008 when the 1st TD holder filed notice of default.

There is a close model match currently listed for $759,000 at 22226 Shadycroft Ave. There is also a property pending, just down the street, which only has 2 bedrooms but is 400 s.f. larger. It was listed at $630,000 at the time it went pending.

As you can see from these comps, the home in question would never sell for $55,669 on the open market. When it is listed, it will most probably be listed well over current amount owed on the property, which is $409K. If you are interested in having me track this property for you, contact me directly. If you are looking for a great deal in this area, I would love to help you out. One of my clients just got a GREAT deal in the 90505 area and so can you. Dare to Dream.

Shel-lee Davis
Real Estate Consultant
RE/MAX Palos Verdes Realty
0 votes Thank Flag Link Tue Jan 27, 2009
Hi David, it’s very common to be misled by RealtyTrac - see it here on Trulia just about every day. RealtyTrac is not a listing service. They post notices of foreclosure and default pulled from public records. Their postings are very misleading because the price shown is NOT representative of what the property will be when priced for sale. This property is not on the market yet, and when it is put up for sale it will very likely be listed on the MLS, not on RealtyTrac.

I’m not sure whether you have been formally Pre-Approved. As far as buying, this is your first step (not a pre-qualification, see:. http://www.Steven-Anthony.com/default.aspx?pp=39377 for the difference between the two) so you can be ready to act when you need to, or be aware of any issues that may prevent you from buying when you want to.

To avoid being "RealtyTracked" again, and assuming you would like to continue searching for a property on your own, do so via http://www.Realtor.com as they load ALL listings from ALL Assoc. of Realtors MLS systems automatically. Trulia is making strides to do this as well, but it will be some time before their feeds are comprehensive.

Or, contact a local Realtor for personal service. I can refer you to certified professional if you like, just shoot me an email.

Best, Steve
0 votes Thank Flag Link Tue Jan 27, 2009
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