Home Buying in Norwalk>Question Details

Araca21, Renter in Los Angeles County, CA

good morning..im an all cash buyer and im looking for infomation on a shortsale auction??

Asked by Araca21, Los Angeles County, CA Mon Mar 28, 2011

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John Arendsen’s answer
You can do an auction or a short sale. But your best bet is to do a pre foreclosure purchase if you can. That preempts all the above. Give us a call and we'll be happy to walk you through that process.
0 votes Thank Flag Link Wed Mar 30, 2011
You may wish to seek assistance from an experienced real estate company that specializes in and has extensive knowledge of Trustee Sales. Trustee Sales are auctions that occur just before a property is foreclosed upon and it allows the current lender to off-load the property before having to take it back and on their books. Commonly referred to as the "auctions on the courthouse steps."

A great company that has a good track record here in San Diego and has recently expanded to Orange County (serving LA County now I believe) is Robertson Canter. If you already have cash then they simply charge a consulting fee which could be well worth it if you are unaware of the process (will likely save you cash and headache by avoiding buying poor investment properties). If you contact them, please let them know I referred you!


Best of luck,

Tara Steinke
Solant Real Estate Advisors
0 votes Thank Flag Link Tue Mar 29, 2011
Good afternoon.

I've never heard of a shortsale auction.

I've heard of owners auctioning off their homes. But there usually has to be substantial equity in the home. I can't imagine any buyer wanting to participate in an auction for the right to attempt a short sale.

And of course there are auctions of foreclosed properties. Sometimes they're done by private companies. But most probably are done on the courthouse steps.

Hope that helps.
0 votes Thank Flag Link Mon Mar 28, 2011
Don Tepper, Real Estate Pro in Burke, VA
Hi Araca21, First you need to know that a short sale is an action that takes place before an auction. Short sales can be difficult but they can give you an opportunity to negotiate a deal and exercise your due diligence. Auctions require having to come up with a bunch of cash up front. There's various venues for auctions: Online, court house steps on the property etc. We've done them all for many years. Feel free to contact us anytime.

We're a licensed RE broker, general contractor rehab/remodel/rebuild specialist and investment company and deal throughout the Southern California area.
0 votes Thank Flag Link Mon Mar 28, 2011
I can answer any question you might have regarding a short sale.

Rick Manzanares
Coldwell Banker Dynasty
0 votes Thank Flag Link Mon Mar 28, 2011
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