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Foreclosure in Knights Ferry : Real Estate Advice

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  • Home Buying1
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Activity 5
Rick McGrath, Real Estate Pro in Modesto, CA
Tue May 21, 2013
Rick McGrath answered:
The NTS represents a "Notice of Trustee" Sale. This can occur 90 days after a NOD (Notice of Default) is recorded. Most lenders have been waiting 120 days or longer however. Better to error on the safe side and put a plan together that prevents the property from going to the Trustee's sale at the court house. ... more
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Shel-lee Dav…, Real Estate Pro in Rolling Hills Estates,...
Mon Aug 8, 2011
Shel-lee Davis answered:
Foreclosures of occupied homes happen all the time. From what you are saying, it sounds like the Notice of Trustee sale has not been issued yet. 21 days before the property is offered on the courthouse steps, the lender must post notice of the sale date. The occupant can stay, even after this is posted. It is not an eviction notice, it is more like a notice to reposses. Once someone new owns the home, then they will evict the owner. Because the prior owner does not have the protections that a tenant has in a foreclosure, they can get them out faster than a bona fide tenant, but they still have to evict them. As my grandpa used to say "possession is nine tenths of the law".

If you want more specific information about the status of the foreclosure, send me the property address. I will look it up for you. No obligation, after all I live in Los Angeles. Dare to Dream.

Shel-lee Davis, QSC®
Certified Distressed Property Expert – CDPE®
Short Sale & Foreclosure Resource – SFR®
Certified HAFA Specialist – CHS®
SSG Pro®
Your Real Estate Consultant for Life
RE/MAX Palos Verdes Realty
424-2HELP12 (424-243-5712)
... more
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Rocky G.H. H…, Real Estate Pro in Ripon, CA
Sun Aug 7, 2011
Rocky G.H. Hawrysz answered:
Hi Misa33,

Are you looking at a Short Sale or a tax record? It sounds like an MLS listing, but need more information is needed to address your question.

Generally speaking in a preforeclosure, the sale or auction date will be from 90days to god knows when. It really depends on the disposition of the lender/investor and the owner.

Share a few more details and we'll try to provide a more specific answer.

Best regards,

Rocky G.H. Hawrysz
Prudential California Realty
P:(209) 444-6610
F:(209) 433-2000
Lic: 01468373
... more
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Alan May, Real Estate Pro in Evanston, IL
Wed Jun 30, 2010
Alan May answered:
There's no law or statute that controls how many times they can come back to you and ask for "highest and best". But you can control how many times you "increase" your offer.

If $338,000 really is your highest and best, simply respond that way to the latest request. "$338,000 IS our highest and best, and we're staying at that price... take it or leave it".

That is, of course, if $338,000 really is your highest and best. If the property ends up selling for $340,000 how ticked-off are you going to be... will you be okay with it, because you would not have gone that high? Or will you be kicking yourself, because, if you had only known, you would have been willing to pay that much.

Only you can decide.
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