Foreclosure in Thousand Oaks>Question Details

Sabine, Home Buyer in Malibu, CA

what is the best way to find up to date listings of foreclosures that are not on the MLS? What percentage of?

Asked by Sabine, Malibu, CA Tue Jun 17, 2008

foreclosures are on the MLS? I am looking on the Thousand Oaks area. Thanks

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Sabine-

I have our website set up so you can track NOD's-Auctions etc as a courtesy to our clients. I don't advertise this but I am giving Trulia a shot. Please use the link here to serach NOD's etc. It will provide you some information and if you require more indepth just email us and we will send it over. There are still several banks that do Stated Loans for self employed borrowers. If you need additional info on those let me know as well. Good luck.
0 votes Thank Flag Link Mon Oct 4, 2010
Hi Sabine,
I will be happy to email you the latest 17-page pdf of all the Bank-Owned properties in Ventura County. There are 3 properties listed per page. The information comes from public records and my Title Company. The list is updated every Tuesday. I also have access to NOD and NOT lists throughout California, on a County by County basis. Email me for details. Happy Holidays!
0 votes Thank Flag Link Sat Nov 22, 2008
There are Realtors in your community and other nearby communities who are foreclosures specialists. They know what is coming on the market before it hits the MLS. My advice to you is to find out who those Realtors are and deal with them directly.

I have been working the Ventura County market as a foreclosure specialist and I have Buyers who want to be contacted if a house in a certain neighborhood comes on the market.

There is a notice of default list that Realtors working the foreclosure market see. There may be homes on this list that are in default and will be going to sale. This list usually includes the notice of trustee sale and that is when the Bank takes back the property.
0 votes Thank Flag Link Thu Nov 20, 2008
are you looking for houses facing forclosure or houses that have been foreclosed and are owned by the bank?
0 votes Thank Flag Link Fri Jul 11, 2008
The lender that owns the foreclosed house will more than likely want you to get pre-qualified through one of their loan reps. It is not a requirement that you use them to purchase the foreclosed house. The bank just wants to know that the buyer is qualified.

Here in the Conejo Valley, I have seen repeatedly that Countrywide, Wells Fargo and Indy Mac will require that you get pre-qualified through them if you are putting an offer on one of their REO properties. I have had my clients make offers on REOs and with each offer have to get qualified through a different lender even though they had no intentions of using them to fund their loan. Your loan rep should be able to supply the different lenders with your infomation such as credit reports, etc.

"Doing Real Estate Right"
Web Reference: http://www.805Local.com
0 votes Thank Flag Link Fri Jul 11, 2008
Not all banks require that you qualify....I know Countrywide and sometimes Wells Fargo but thats it that I know of. Try the site below...it lists the lenders sites with homes for sale.
0 votes Thank Flag Link Thu Jul 10, 2008
Cindi Hagley, Real Estate Pro in San Ramon, CA
MVP'08
Contact
Thanks eveyone for your answers...
Joyce, is that right? I will need to qualify with the bank that is foreclosing on the property? What if the bank does not offer the type of loan product that I require? I am self employed and have to go with a stated loan and am already prequalified with Waichovia.... but i know that there are only a handful of banks that still do these types of loans.... Thanks
0 votes Thank Flag Link Thu Jul 10, 2008
Sabine,

Good quesion!

It sounds like you would like to know what houses are going back to the bank before the houses actually hit the MLS - right?

Your best bet is to connect with a local Realtor that tracks NODs and foreclosures; not all Realtors do this or even know where to find the information. We have access to resources to alert us to upcoming foreclosures before the property is listed for sale. We can guide you through a short sale purchase which is pre-foreclosure or a REO purchase where the bank is the owner.

Keep in mind if you purchase a REO, the lender who owns the property will want you to get qualified through them. For example, if it is a Countrywide REO, you will need to get qualified through Countrywide.

For more local Ventura County information, please give us a call at (805) 377-7172.

"Doing Real Estate Right"
Web Reference: http://www.GregandJoyce.com
0 votes Thank Flag Link Tue Jul 1, 2008
Does Ted Mackel add his two cents here??? Your answers are always so great and informative... I have learned so much from you!!!
0 votes Thank Flag Link Wed Jun 18, 2008
THERE IS A GREAT WEBSITE CALLED BID SELECT - NOT ONLY CAN YOU FIND HUD FORECLOSURES BUT BANK, RELOCATION AND AUCTION HOMES AS WELL.
Web Reference: HTTP://WWW.BIDSELECT.COM
0 votes Thank Flag Link Tue Jun 17, 2008
HUD, VA and bank foreclosures all list with REALTORS, and they will not even talk to you before a property is listed. Tax sales are the only ones that do not.
0 votes Thank Flag Link Tue Jun 17, 2008
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