Foreclosure in Hayward>Question Details

Anoo, Home Buyer in 94086

I would like to buy a land(REO), i have the address and parcel number of the property but , but i dont find

Asked by Anoo, 94086 Mon Mar 23, 2009

any contact details of the lender,how can i know the information,land is in hayward.

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Dear Anoo,
Land is usually listed with Commercial Brokerages (not residential). You best bet is to work with a Commercial Agent or a an agent who works Commerical and Residential.
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0 votes Thank Flag Link Wed Jun 24, 2009
Things are so hazy when it cones to REO, every lender and bank has their own rule and you have to know them all in order to play the game. And it keeps changing ( so we are forever being challenged to adapt and catch up with the latest rules).

The owners themselves are confused, they might not know what the status is on their property. If it is a short sale , the rules are even trickier. You can have a property scheduled for sale and you know when and where the trustee sale is going to be and at the last minute, the sale is canceled. So you have gone all the way to xxx and for nothing, because a few hours before the trustee sale, something happened. And nobody will tell you, because a trustee sale is public.

And then there is the opposite of global warming, I call it the global freeze; the institutions decide that foreclosures are to be avoided and a lot of them are going to be suspended. You can call it freeze or limbo, it is all designed to keep you alert and in suspense...

Muriel Levin, Realtor, Coldwell Banker HP-N, Certified REO, Short Pay and Short Sale Specialist
Agence Immobiliere a Los Angeles, Californie, Specialiste de Reprise de Banques
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0 votes Thank Flag Link Tue Mar 24, 2009
Hi Anoo,

So the property has definitely gone through foreclosure at sheriff's auction for sure? If so, call the county sheriff's office and find out if the bank got it on default (it might have been bought by someone else). They might let you know over the phone (or not). But in person you will get access to it as it's public info.

It can be that it might not have gone when it was originally scheduled - this happens all the time. Once you know which bank owns it - go to that bank's web site - search for REO. Then call them up and go for it!
0 votes Thank Flag Link Mon Mar 23, 2009

Most of the properties that have been foreclosed are available on the local MLS (Multiple Listing Service). You typically cannot go directly to the lender. A local Realtor can help you with the information you need. I'd be happy to help if you need a Realtor.
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0 votes Thank Flag Link Mon Mar 23, 2009
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