You can go to an auction (such as those posted by auction.com), or try your luck at the county courthouse steps
Know that there are many risks involved in buying property at a foreclosure (you may not be able to get title insurance, for one thing). If you'd like to know what is involved, please do yourself a favor ad watch this foreclosure auction guide
Or....you can engage a realtor to help you find properties that are already bank-owned, and are listed for sale.
Or...you can research properties are "distressed" i.e, delinquent and on the brink of foreclosure. One way to do this is to get someone to help you find them (ForeclosureRadar.com is a good resource)... more
DO you mean the tax lien properties? Check with the Assessor Office of the city. You can check online too. Type in Assessor Office in Hyaward in Google search. You can find any city online. You can go to the City Hall and visit the Tax Assessor Office and ask for the lists of t properties with tax default. Good luck.... more
It can happen quickly.An expensive car repair, an unexpected hospital visit, a missed week of work – just a few little things and the life you’ve worked so hard to build can feel like it’s tipping
Estimated List Price Under $300,000 This 3 bedrooms Castro Valley home will soon be listed for sale. Well maintained with open and bright floor plan. Features include hardwood floors, updated kitchen,
In my opinion, the best thing to do would be to contact a local Realtor and ask them to assist you with this request. They can call the bank for you and arrange a time and date for you to see the property. That way, you just have to show up and make an offer.... more
Realty Trac is notorious for outdated information, many times you contact someone on a property only to find out that it sold months ago.
When a bank owned home is listed, it is up to the agent in most cases to decide how many photos to take and upload. Believe me, most of us agents are in complete agreement with you in needing more photos. "You took a picture of the front, how long does it take to walk to the back?"... more
Hello Mrs. K.
Congratulations on your decision to make an offer on a home in Castro Valley. From your questions, I gather that you are not working with a Realtor, or that you might be making an all cash offer. Am I correct?
Anyway, deciding what to offer is really an art. You Realtor can give you plenty of insight and information to help with youru decision. So many factors come into play when deciding on price. LOCATION IS PRIMARY, Good schools is another. You may find that homes in CV are selling much faster than in other nearby areas. What might be the reason for this?? Are other people looking at this home? How long has it been on the market? Are multiple offers expected?
Even trends and research may not mean much in a market such as this one. On a bank owned property, the seller (bank) is looking for the highest and best offer. They might not even counter a lower offer. They don't have the time or resources, and they dont' follow the 'normal guidelines' of the real estate process.
There's more..................feel free to contact me for a full consultation at your conveneince. I live and work nearby and I am very familiar with Castro Valley and surrounding cities.
Best of luck.... more
Here is some information about foreclosures:
1. Just because a property shows up on RealtyTrac does not mean it is a foreclosure or that it is available for sale. RealtyTrac reports all Notice of Default filings. This is the first step by a lender, or home owner's association in moving to get paid for monies owed them through the sale of the underlying collateral or home.
2. An extremely high percentage of Notice of Defaults NEVER become foreclosures. People refinance, work out a payment schedule with the bank, have family and friends help them catch up in their payments, straighten out the misunderstanding the led to the filing of the NOD, file for bankruptcy, or simply catch up in their payments. For example, I have met and/or spoken with people who have commission based income or are self employed and just waiting for the payment of a few past due invoices and then they are back up to date with their payments and the notice of default never results in the sale of their property. (By the way, in California, the sale of the property at auction cannot take place before 111 days have passed since the filing of the NOD.)
3. Other NOD's don't result in a foreclosure because the owner is already in the process of selling his home and just stopped making the payments because he thought he was going to close sooner than he did.
4. Also, people will sell their homes themselves by listing them with a good Realtor. Many, though not all of these listings, are the Short Sales you see in the MLS. Someone cannot afford their mortgage payment, owes more than the house is worth, and wants to get out from under the stress and burden of this huge mortgage payment (this is one of my specialities, helping people in this position take control of their destiny by negotiating a short payoff with their bank).
A subscription to RealtyTrac will give you the address and the amount of the loan delinquency on each of the properties they track. (NOTE: You also need to be mindful of other loans against the property, pre-payment penalties on the loan in default, tax liens, mechanic's liens, and judgment liens against the property.) The information provided by RealtyTrac can also be obtained through a title company, or by going directly to the county recorders office, or by working with a real estate professional. These sources can also help you look into the other items in the NOTE.
If you want to look at homes in the "pre-foreclosure" phase (from the time the buyer stops making their payments, through the NOD filing, right up until 5 days before the auction) then find a realtor in your area that markets in this niche. Remember, just because someone is behind in their payments does not mean their home is for sale. Let this professional do the foot work for you and give you the real story behind these homes. Then have them negotiate a great deal for you with an owner who needs someone like you to help them out of a bad situation. And Dare to Dream.
Real Estate Consultant
RE/MAX Palos Verdes Realty... more