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Foreclosure in Solana Beach : Real Estate Advice

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Activity 5
Wed Jun 13, 2012
Jay Becker Sotheby's answered:
90k may be relating to a mobile home or which there are some along 101 west of 5
0 votes 6 answers Share Flag
Mon Aug 1, 2011
Jason Richards answered:
One wonders if it could be a victim of the robo-signing fiasco... It wouldn't be the first time the banks have recorded NOD's against a property that already sold.....
0 votes 10 answers Share Flag
Thu Sep 9, 2010
Conrad Hodgson answered:
Though we would all like to be optimistic the program is not doing well at all. The reason I say this is that since HAFA took effect in April I had 2 Short Sales go to foreclosure as they are still working out the kinks and have little idea of who needs to do what. I have never lost a deal to foreclosure until HAFA came about. HAFA has outlined specific time frames for the short sale process and are falling way short of these outlines and time frames.

I was busy with a traditional short sale until the homeowner got a letter in the mail stating that the property qualified to be in the HAFA program. We submitted all the paperwork and two months later got a letter stating that the property did not qualify for HAFA !!!!!! and that we should try a traditional short sale.......this is what we were doing in the first place. This was one of the above mentioned properties that unfortunately made its way to the courthouse steps.

I am not saying HAFA will not get better but I sure hope it happens soon.
... more
0 votes 2 answers Share Flag
Thu Oct 15, 2009
fredeckert answered:
Faith,
Call my Chicago Title customer service at 619.507.5688 and give them the address. They can send you a copy of the notice of trustees sale that has the location, time etc. Make sure you are cautious when buying at a trustee sale. ... more
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Fri May 11, 2007
Kris Berg answered:
As a potential buyer, expanding your search to include all homes for sale can only be in your favor. Representation in any transaction is critical, but representation in each of these cases is critical. Taking the For Sale by Owner, the seller may not have a complete understanding of disclosure laws, buyer and seller rights, statutory requirements, etc., not to mention the pricing issue raised in the previous answer. Be aware that while foreclosures on the face seem like opportunities, bank-owned properties somewhat unique. Banks are often slow to respond to offers, and you will likely be expected to accept the home "as is". For instance, we are currently representing a buyer in the purchase of a bank owned home in San Diego. The bank specified in the contract that no repair work would be done, yet the home need thousands of dollars in termite and repair work. Further, the property was advertised as having air conditioning, yet it has none. These may be seemingly minor points if you feel you are getting a great price, but they are issue you need to be crystal-clear on as a part of the decision to consumate the transaction. The importance of thorough inspection during escrow and an agent ensuring not only that you receive the full disclosure to which you are entitled (either at the outset or through the disclosure and discovery phase) but agressive advocacy during the process is paramount. ... more
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