Happy to talk at your convenience, Anthony.
The Bremner Group at Coldwell Banker
REALTOR, 00588885, ABR, CDPE, eAgent, CSP, SFR, HRC, CRE
(O) 310-571-1364 DIRECT
(D) (310) 800-2954
Accredited Buyer Representative|Certified Distressed Property Expert |Pre-Foreclosure Specialist Certified
I want you to know that I appreciate any referrals from friends and associates who may be in the market to buy or sell real estate. You can count on me giving them the same high-quality service I provide to all of my clients.... more
I see these questions on Trulia all the time. All of the sale types you mention as well as regular sales are usually represented by Real Estate agents and posted in the MLS. A good buy doesn't necessarily need to be distressed to be the "perfect home" you are seeking. Be open to seeing all types of listings and there's really no need for an agent that specializes in distressed sales. You may want to target an agent that specializes in the area/neighborhood you are looking though. You should also seek an agent that communicates with you well and understands any particular needs you may have with financing, schools, work commute or other factors.
While many distressed homes may appear by price to be the "low price" there are other factors such as deferred maintenance or other repairs that sometimes are difficult to achieve in the negotiation process on those type of sales. In pre foreclosure (short sales) the investor will rarely pay for the delinquent condo HOA dues so while the purchase price may appear low, there may be costs that you the buyer will need to pay in order to close.
I'd just suggest that you be open and try to find the best property you can within your budget.
Please let me know if I can help with any other answers. I know a number of great agents in the Los Angeles area that may be a good fit for you!
Byron Lohman, ABR, CDPE, SFR
Prudential CA Realty
If you think that Auctions are a good possibility for you,
go to some Auctions, and find out:
You don't have to bid, you can observe.
Understand that some Auctions are held by private companies, just trying to sell some real estate that they haven't been able to sell any other way.
The Trustee Auctions are not held BY the Banks, but rather by the COURT to finalize the Foreclosure process: These homes are usually sold back to the bank that held the paper because they offer/bid the amount of the outstanding loan. In other words, too much! This protects their investment. The investors that go to these auctions are looking to buy for 50 cents on the dollar, and it is not going to happen.
But you need to see for yourself.
Gold is not waiting for you to pick it up in the creek, and real estate is not just sitting there waiting for you; there are a lot of investors looking for a quick buck.... more
That's really stupid to just let it foreclose.
You should seriously having your nephew do a short sale before just letting it go to foreclosure. Letting it go to foreclosure is not the easy way out & it can open your nephew up for future deficiency judgments against him by the bank(s) for the negative balance.
I have a lot of experience closing short sales & have a 100% success rate that I can PROVE, you can click through my profile to see recent answers here on Trulia where I talk about them.
Shoot me an email if you want to talk about this some more.I don't look back on this same Trulia thread for answers posted after mine.
Realtor Since 1996
Main Street Realtors... more
If a property is being foreclosed on it could take quite some time before it is listed for sale. If the current owners who are being foreclosed on decide to try to sell before the auction date and they owe more than what it is worth they would list it for sale as a short sale and try to get the lender to accept less than what they owe for the sale price. If the current owners decide to just walk away from the property and let the lender foreclose on them then the property will eventually be foreclosed on and if it doesn't sell at the auction which most don't the lender will become the legal owner and they will contact a real estate company to list it for sale for them. The time that this will take really depends on a few things such as when the auction date.... more
My name is Pebble Singha and I am the Head of Short Sale division at KW Encino. I work with many buyer clients who have interest in a short sale only. It is a very complicated process for an Investor buyer but the biggest ingredient is Patience.
Call me. You may also visit my web site to know more about me.
Good Luck in your search.
Either the First Lienholder will contact the Second,
or the Title Company will call them to get a "pay off" figure.
You do not have to worry about the creditors coming out of the wall:
The Liens MUST be taken care of; they MUST.
You've got enough to worry about.
You may be in for a long wait, so try to relax and don't stess out any more than you already have.
Good luck and may God bless... more
Present an offer to the Seller if it satifies the 2nd have him call the lendor and let them know. I have stopped many this way. If it does not satisfy the 2nd try to have the seller work out a deal with the 2nd. Most of the time in a foreclosure the primary will only offer the second 1k and the second refuses it. So offer more than that but not the whole amount, they know that usualy especialy in todays market they will get nothing if it is foreclosed on because there is usualy nothing left over after the primary is satisfied.
2nd question: the primary or secondary probably paid the taxes to avoid the county selling it on the court house steps. In my area 2yrs in arrears is when the County takes action... more
I recommend submitting a request on RealtyTrac.com for an agent to contact you because those agents have experience with distressed properties, Foreclosures, and REO's and access all the information you need to make a good offer. The loan and lien history as well a general picture of the foreclosure market in the area that MLS data cannot provide.... more
There may not be a list of french realtors specializing in restaurants. Do you speak English? we may be able to communicate via email at
email@example.com or by phone if you do.
Valeria Motronea... more
Hello Foreclosed on,
I believe that you reposted this question .......................
Very unfortunate to hear about the foreclosure. Hoping that you did try to do a short sale at least. Assuming that you are in Los Angeles county and the 1st lien holder BofA foreclosed , Ocwen and BofA reserves the right to come after him if they choose to for the remaining balance. Are they going to? Only the foreclosing bank can tell you that. The general consensus is that the statue of limitations is 4 years within which they can come after you.
Your mother's home is a seprate property, if you are current on it then you have nothin to worry about. In either case your fathers home being foreclosed upon has nothing to do with your Mother's home, unless when you took the loan, you took it with the same bank with a clause, that would allow them to foreclose if you defaulted on either loan. BOTTOMLINE
I would suggest u to get get a legal consultations with a Real Estate attorney and even bankruptcy attorney. Realtors cannot legaly advise you. We can only state our experiences.... more
Tremendous competition for California whereas some investors have stopped and started purchasing the non-performing mortgage notes outside California. Short Sales can be typically priced under value but the bank can still counter higher. Banks know the process and value. When clients hear about fix and flips they are not in the best areas and they are experienced in full renovations. You can invest in non profits that buy from banks and rehab with a return on your money with no hands on; depends on the amount of money you have to work with as this takes about 35% of the purchase price.... more
The "trustee" doesn't need to provide any document to proceed with a short sale after bankruptcy.
Only the escrow office & the lien holder of the short selling bank would want to see a copy of the discharge papers from the BK attorney in order to close.
You CAN get started marketing & processing a short sale even before the BK is discharged.
Realtor Since 1996
Main Street Realtors... more