Your renter is obligated to pay his rent if he has a written contract with you. I suggest that you contact an attorney and start the eviction process. I would definately give him his 3-day notice to pay his rent or move immediately. His rent has nothing to do with you paying your mortgage.... more
It's pretty tough to actually find a very active agent that doesn't have some experience with foreclosures and short sales in the current market so my advice would be to find a good agent that knows the area and just ask about their foreclosure experience. I'd be happy to discuss with you my experience as I'm currently working with several buyers on short sale and REO transactions and currently have 3 short sale listings. Keep in mind that although foreclosures and short sales do offer a buyer some good opportunities, the list prices are often a bit misleading as they're intended to get several offers and drive up the price. This has been pretty common and in general, things in the South Bay, and certainly Redondo Beach, generally end up selling for very close to market prices. Best of luck with your search and let me know if I can help.... more
The cash for key negotiation, and the eviction process run parrallel. The banks do this so if the negotiations for the cash for keys falls through, the eviction remedy can proceed without delay.
Once you have an agreement over the cash foi keys, the sheriff is put on hold.... more
From your Real estate Agent. Banks don't work directly with reo buyers (at least not with any of the banks I work with!) so you need to get a realy good agent that has experience in selling them. The web site you are talking about, I agree the info in most cases in old.... good luck!
Leanne Smith -agent... more
I have heard from several people that RealtyTrac is a good source of information. Of course, it is not the only source, and it will not have ALL the answers you may be looking for. Just like any business, you will have to do your homework and research the actual status of the homes.
If you are a serious investor, or buyer, and are willing to roll your sleeves up, then try it out for 30-60 days, and post an opinion of your personal results.... more