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Foreclosure in Los Angeles County : Real Estate Advice

  • All512
  • Local Info30
  • Home Buying266
  • Home Selling32
  • Market Conditions12

Activity 634
Fri Jun 15, 2012
Sara Mehrpouyan answered:
Hi Kylie,

It sounds like you submitted an offer on a foreclosure property? If it is bank owned, then the seller will open escrow and you will need to give your deposit to escrow company. After that, it's a regular escrow process with contingency periods according to the offer that you submitted and agreed upon with the seller. Most foreclosure properties are sold as-is. Good luck.

Sara Mehrpouyan CDPE
Short Sale & Foreclosure
Rodeo Realty
Direct 818-903-2040
Dre license #01712757
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0 votes 1 answer Share Flag
Mon Apr 8, 2013
Deborah Bremner answered:
Happy to talk at your convenience, Anthony.
Deborah Bremner
The Bremner Group at Coldwell Banker
REALTOR, 00588885, ABR, CDPE, eAgent, CSP, SFR, HRC, CRE
(O) 310-571-1364 DIRECT
(D) (310) 800-2954
Accredited Buyer Representative|Certified Distressed Property Expert |Pre-Foreclosure Specialist Certified
I want you to know that I appreciate any referrals from friends and associates who may be in the market to buy or sell real estate. You can count on me giving them the same high-quality service I provide to all of my clients.
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0 votes 12 answers Share Flag
Fri Jun 15, 2012
Byron Lohman answered:
I see these questions on Trulia all the time. All of the sale types you mention as well as regular sales are usually represented by Real Estate agents and posted in the MLS. A good buy doesn't necessarily need to be distressed to be the "perfect home" you are seeking. Be open to seeing all types of listings and there's really no need for an agent that specializes in distressed sales. You may want to target an agent that specializes in the area/neighborhood you are looking though. You should also seek an agent that communicates with you well and understands any particular needs you may have with financing, schools, work commute or other factors.

While many distressed homes may appear by price to be the "low price" there are other factors such as deferred maintenance or other repairs that sometimes are difficult to achieve in the negotiation process on those type of sales. In pre foreclosure (short sales) the investor will rarely pay for the delinquent condo HOA dues so while the purchase price may appear low, there may be costs that you the buyer will need to pay in order to close.

I'd just suggest that you be open and try to find the best property you can within your budget.

Please let me know if I can help with any other answers. I know a number of great agents in the Los Angeles area that may be a good fit for you!

Byron Lohman, ABR, CDPE, SFR
Prudential CA Realty
DRE# 01272085
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0 votes 23 answers Share Flag
Sun Jun 3, 2012
Clint Lohr answered:
Yes. How much per month do you wish to pay, and how many bedrooms and baths do you need? Are you willing to sign a year lease?
0 votes 5 answers Share Flag
Fri Jun 8, 2012
Steven Ornellas answered:

As far as 2012, here's the monthly stats in days:

Jan: 405
Feb: 469
Mar: 181
Apr: 403

0 votes 6 answers Share Flag
Tue Oct 17, 2017
DJ Bonner answered:
Hello Gvc,

Revert to beneficiary just means that the property went back to the bank. This occurs when nobody bids at the sale or the property did not sell for full value/value set by bank. It is just a matter of time before you receive a notice to leave. There are ways for you to receive money from the bank to help you with your moving expenses and finding a new home. Please feel free to email me and we can setup a meeting to talk about your options’.
Best regards,

DJ Bonner
Keller Williams Realty South Bay
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0 votes 5 answers Share Flag
Wed Nov 14, 2012
Vicky Chrisner answered:
You mean like you're going to buy a gallon of milk? Well, I wouldn't suggest it... But you probably can. Generally, you at least want to have a title check because otherwise how will you know if you are actually paying the real owners of the house? There are also common contingencies beyond that like inspections...and if the owners are living there they probably can't move with a moment's notice. ... more
0 votes 11 answers Share Flag
Fri May 18, 2012
Edwin Momeny answered:
Whatever the address, you will not have an opportunity to buy it until it hits the market as a short sale or bank-owned home.

If you give me the address, I will be happy to reach out to the owner to see if they are open to a short sale.

Thanks for your time and I look forward to your reply.

Eddie Momeny
Realty Executives
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0 votes 6 answers Share Flag
Fri Apr 27, 2012
Foolrelative asked:
Thu Jun 7, 2012
Ron Thomas answered:
If you think that Auctions are a good possibility for you,
go to some Auctions, and find out:
You don't have to bid, you can observe.

Understand that some Auctions are held by private companies, just trying to sell some real estate that they haven't been able to sell any other way.

The Trustee Auctions are not held BY the Banks, but rather by the COURT to finalize the Foreclosure process: These homes are usually sold back to the bank that held the paper because they offer/bid the amount of the outstanding loan. In other words, too much! This protects their investment. The investors that go to these auctions are looking to buy for 50 cents on the dollar, and it is not going to happen.

But you need to see for yourself.

Gold is not waiting for you to pick it up in the creek, and real estate is not just sitting there waiting for you; there are a lot of investors looking for a quick buck.
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0 votes 3 answers Share Flag
Tue Apr 24, 2012
Tracey Martin answered:
Hire a Realtor to help you. Have the Realtor contact a title rep. with whom they have a relationship. The title company should be able to get you a title report. The report should give you information on who owns the property. If it is owned by a lender in your area, you may want to the lender's office and talk to them directly. If they don't have an office in your area, google their foreclosure dept. and ask them for help. ... more
0 votes 1 answer Share Flag
Tue May 29, 2012
Emily Knell answered:
They won't talk to you about any offer submission.

The only information you MIGHT MIGHT MIGHT get out of them is a date in which it MIGHT come on the market OR if they can give you an Asset Manager's phone # & from there you MIGHT find out who MIGHT be assigned the listing when it does finally come on the market.

It may not come on the market for up to a year.

Shoot me an email directly if you'd like to talk to me some more. I don't look back on this same Trulia thread for answers posted after mine.
562-430-3053 c
Realtor Since 1996
Main Street Realtors
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0 votes 3 answers Share Flag
Thu Apr 12, 2012
Lesley Harris answered:
Hello Lb100,

Why do you need an attorney? I can help you with the co-ops and condo's and OYO (own your own) Richard Williams is an attorney who works in the Long Beach area. Tell me what excatly you need and why you are asking?

Lesley Harris, Realtor
(562) 673-0943
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0 votes 2 answers Share Flag
Thu Apr 12, 2012
Brent James answered:
if you are lien holder second in line and the first is foreclosing you can buy the note and foreclose yourself if they are not paying you either.
0 votes 4 answers Share Flag
Fri Apr 6, 2012
Emily Knell answered:
That's really stupid to just let it foreclose.

You should seriously having your nephew do a short sale before just letting it go to foreclosure. Letting it go to foreclosure is not the easy way out & it can open your nephew up for future deficiency judgments against him by the bank(s) for the negative balance.

I have a lot of experience closing short sales & have a 100% success rate that I can PROVE, you can click through my profile to see recent answers here on Trulia where I talk about them.

Shoot me an email if you want to talk about this some more.I don't look back on this same Trulia thread for answers posted after mine.
562-430-3053 c
Realtor Since 1996
Main Street Realtors
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0 votes 10 answers Share Flag
Tue Apr 3, 2012
Paris and Connor MacIvor answered:
LOL, not that this will help, but it is probably for the same Reason Aurora is still FAX only...
0 votes 6 answers Share Flag
Tue May 10, 2016
Alain Picard answered:
If a property is being foreclosed on it could take quite some time before it is listed for sale. If the current owners who are being foreclosed on decide to try to sell before the auction date and they owe more than what it is worth they would list it for sale as a short sale and try to get the lender to accept less than what they owe for the sale price. If the current owners decide to just walk away from the property and let the lender foreclose on them then the property will eventually be foreclosed on and if it doesn't sell at the auction which most don't the lender will become the legal owner and they will contact a real estate company to list it for sale for them. The time that this will take really depends on a few things such as when the auction date. ... more
0 votes 14 answers Share Flag
Tue Sep 4, 2012
Richard Schulman answered:
Hi Ash,

I would be happy to help you out with this. I work with a large number of investors, and especially recommend condos as an investment. I have helped many investors with this exact scenario, and they are now making excellent returns on their properties. It is important to analyze the properties for their expected ROI (return on investment) as you mentioned, taking into consideration all projected expenses and potential rental income. You can see several sample scenarios where I have done this, by visiting some of the properties listed here: And this is something I do on a regular basis for my clients in analyzing investment properties. I would be happy to talk with you further and help you analyze your situation and get you started in the right direction.

Feel free to contact me at any time.

Richard Schulman
Keller Williams Realty
(310) 482-0173
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0 votes 17 answers Share Flag
Thu Apr 5, 2012
DJ Bonner answered:
It all depends on the current owner and if they are willing to leave. If not it will be a process or you can offer them cash for keys. Also be sure to check title and HOA.
Best of Luck,
DJ Bonner
Keller Williams Realty
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0 votes 7 answers Share Flag
Tue Aug 14, 2012
Pebble Singha answered:
H Miguel,
My name is Pebble Singha and I am the Head of Short Sale division at KW Encino. I work with many buyer clients who have interest in a short sale only. It is a very complicated process for an Investor buyer but the biggest ingredient is Patience.
Call me. You may also visit my web site to know more about me.
Good Luck in your search.
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0 votes 12 answers Share Flag
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