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Foreclosure in 91791 : Real Estate Advice

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  • Local Info4
  • Home Buying4
  • Home Selling2
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Activity 2
Thu Jan 10, 2013
Simon Campbell answered:
Here are a couple of answers to common questions about what happens at a foreclosure auction:

When do you have to pay?
In most cases, the bank will require a substantial deposit or even the full amount of the property at the time of winning the bid on the courthouse steps. This can make it prohibitive for many buyers who might need to get a loan in order to purchase a property.

In many states, the entire price of the home must be paid within 24 hours of winning the bid on the courthouse steps.

Where will the auction take place?
it really depends upon the type of auction as to where the bidding takes place. Some bidding is on the courthouse steps while other bidding is done at auction houses. HUD homes are only done online.

Read more: What is a Foreclosure Auction? at

Simon Campbell -
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Thu Nov 6, 2008
Jonathan Chi answered:
Hi Steven,

We checked the title records and thinks that due to there are multiple leans to the property. The second lean holder might have acquired the property for $55,000 and planned to sell the property to the first lean holder or to the general market to recoup the loss.

You asked a very good question that a lot of our clients ask us. We will keep an eye on this property and see if there are any activities for this property in the near future.

Please feel free to let us know if you have any questions or comments.

Jonathan C. Chi
Prudential California Realty
10750 Civic Center Drive
Rancho Cucamonga, CA 91730
Office: 909-980-3100
Direct: 909-292-0788
Cell: 626-606-5716
Fax: 909-472-2081
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