Property Q&A in 94114>Question Details

Jan Taylor, Home Buyer in Palo Alto, CA

Are the prices the full prices or the amounts in arrears in foreclosure? JanTaylor2007@gmail.com

Asked by Jan Taylor, Palo Alto, CA Fri Oct 17, 2008

--
This question is about this property: http://www.trulia.com/foreclosure/2002584690--States-St-San-…

Help the community by answering this question:

Answers

2
Hello Jan,

Generally if you are looking at Trustee Sale Notices or a service such as RealtyTrac, you are looking at default amounts—and only on that particular loan. There could be HOA liens, garbage liens and/or unpaid taxes.

Having been to the “Courthouse Steps” and working both pre-foreclosures (short sales) and REO’s (foreclosures), my advice is NOT to buy at an auction unless you really know what you’re doing. It is unlikely that you will even see the property and many people getting foreclosed upon trash their homes and remove every item of value—or vandals do!

Buy BEFORE or AFTER—not during.

Rebecca
0 votes Thank Flag Link Fri Oct 17, 2008
The only way to know for sure is to get a prelim from a title company. We very careful when buying foreclosures. If you don't know what you are doing, I don't recommend them.

There are seconds and private loans that don't always show up that can bit you at the end. You might be better off trying to buy REO's. Properties that didn't sell at the court house and are now owned by the banks.

Regards,

Dave Tapper
Web Reference: http://Teamtapper.com
0 votes Thank Flag Link Fri Oct 17, 2008
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2015 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer