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Foreclosure in 92056 : Real Estate Advice

  • All35
  • Local Info2
  • Home Buying13
  • Home Selling6
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Activity 5
Tue May 16, 2017
Angelica P answered:
Hi,

I apologize we have false foreclosure information listed on our home details page. This data is provided to us from Zillow foreclosures and we currently do not have the ability to edit or remove the information that they are sending us.

Please be advised that I have created a ticket to Zillow Consumer Care to request the removal of the foreclosure status from your property. Once the status is removed from Zillow, it will automatically update to Trulia after 24-48 hours.



Thank you for using Trulia!

Angelica
Consumer Care Advocate
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0 votes 1 answer Share Flag
Fri Aug 17, 2012
John Schinkel answered:
In my experience, you can not do this under normal circumstances. I work primarily with investors and Buyers looking for great deals so I have gone down this road several times. It is understandably frustrating to be a Buyer, well qualified and ready to buy a house but with no way to present an offer to the owner. I offer a two part explanation as to why bidding on a foreclosure prior to it's oficial listing date is typically not an option. First, the bank wants as much for the asset as the market will bear. To accomplish this, it is necessary to expose the property to as many buyers as possible. Not only do they want the property on the local MLS, usually they will leave it on the market long enough to accumulate multiple offers. This creates a competitive situation that often progresses to the would-be buyers improving their initial offer during the asset manager's call for highest and best.

Secondly, in many situations (not all), the original home owner will be pursued by the bank for a deficiency judgement. If that homeowner can make the case to a judge that the deficiency is based on a low sales price that resulted from the lender's failure to make a reasonable attempt to get as much for the property as possible, the lender's case may be substantially weakened or thrown out all together. And, to take this a step further, a lender who made a practice of accepting offers without exposing the property to the market then pursuing the defaulting home owner for the deficiency would likely end up facing a class action law suit.

I usually attach a tag to the property for my Buyer which alerts me and her or him immediately upon the addresses activation in the MLS.
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0 votes 15 answers Share Flag
Tue Jan 3, 2012
Emelia Sanchez answered:
Ross,

The homeowner will require a Realtor if the property is facing foreclosure. The Realtor will need to negotiate with the foreclosing lender on their behalf as others have stated it is a long and detailed process. I have yet to see a homeowner do a for sale by owner when it is a short sale it does not make any sense when there is zero monetary return to them. ... more
0 votes 12 answers Share Flag
Tue Jan 3, 2012
Andrew Foote answered:
That's terrible what happened to you. Unfortunately, the legal options and procedures vary from state to state, and even from county to county. I don't know that I can offer much help after the fact, but for those who read this and are concerned about falling into the same circumstances, I do have a few tips. Take your signed lease agreement to your county's clerk and recorders office. You should be able to find in by doing a google search for *your county* clerk and recorder. If you record the lease against the property at the clerk and recorders office, this makes you a party of interest for the property, and puts you on the mailing list for the foreclosing lender to notify about any upcoming proceedings. You'll also want to contact you local qualified Realtor to see if a lease survives a foreclosure conveyance in your area. The laws have been changing in recent years to protect against situations like yours, but you have to take the steps to be in the game. I hope this information serves to help some families avoid the same painful experience.

Foote
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0 votes 9 answers Share Flag
Tue Nov 6, 2007
Lee Lovitt answered:
Hi Sean...

The Oceanside market is stronger, so you should still get a good price for your home this summer and get a bargain in Clovis/Fresno

let me kknow if you need a brilliant broker for the sale of your home in Oceanside.
Lee Lovitt Symbolic Realty Owner/Broker
symbolicrealty@yahoo.com
www.symbolicrealty.net
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