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95073 : Real Estate Advice

  • All4
  • Local Info0
  • Home Buying2
  • Home Selling1
  • Market Conditions0

Activity 3
Fri Jun 3, 2016
Gary answered:
It all depends on the park. Some parks will let you sell it to them. But often scrap the bottom with offers. Expect to get far less than it's worth. Another option is to sell to a mobile home buyer. They give quick turn arounds but often will offer more than the park. It might be the best bet. And just take a loan out for the remaining balance. Its much cheaper to pay on $20,000 than to pay on $90,000.

I found this article recently and thought it might be helpful.

Good luck :)
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Fri May 16, 2014
Daniel Oster answered:

Curt and Suzy shared good information, but you may want to consider a subscription with The Santa Cruz Record, They are a local company that provides regular updates on records related to, among other things, notices of default and foreclosure auctions. As the other pros mentioned, buying a property at foreclosure auctions will require a high level of due diligence and cash.

You may want to consider a listing notification service that will keep you informed on all of the new listings in Capitola including short sales and bank owned homes that are listed on the MLS.

For more detailed information, or a personal consultation, you can reach me at 831.227.5700.
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Mon May 27, 2013
Bryan T. Chambers answered:
Good Morning.. Finding Bank Owned properties is best done with a good agent. I have listed many REO - Bank Owned properties and had clients trying to find deals. The reality is that many people try to Short Sale or Modify their Loans before loosing the home to "The Bank". The reality is the Bank is really only the Servicing company for Investors most of the time, so even when there is an Auction, The Investors Foreclose during the auction, outbidding buyers with cash, so they can wipe out other loans and end up with the property as lower total cost with good write-offs, then they hire a Broker to sell the home as "REO- Real Estate Owned" by the investor and "Serviced" by the Bank. Let me know if you need help. ... more
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