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Foreclosure and bank owned property information.
Currently, in Los Angeles County, There Are:
Foreclosures FOR SALE
Notice of Defaults in the last 30 days
Foreclosures Currently For Sale
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We assist investors purchase foresclosures and distressed sale properties. ForeclosuresforBuyers.com offers free and instant foreclosure and notice of default property information. We deliver premium real estate services for investors looking to purchase distressed sale properties.
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Frequently Asked Questions
What is Foreclosure Investing?
Foreclosure investing is a form of real estate investment. It is one of the best investment options as far as returns on investments are concerned. Foreclosure investment opportunities are normally created when homeowners default on monthly installment payments and the bank confiscates their property. The property is then sold at a foreclosure auction.
Foreclosure investment opportunities are also available when a homeowner tries to sell the property directly to the ready buyers, before the foreclosure is announced.
What is a Buyers Market?
The foreclosure investment market is often called a buyers market because buyers are in a better position to negotiate the price of the property and other related terms and conditions in a deal. A homeowner, who has not made timely payment towards a mortgage loan, is usually aware of the fact that the property will be confiscated and he will not be able to profit from the sale proceeds. To avoid foreclosure, homeowners try to sell their property and use the proceeds for applying for new mortgage loans or buying new properties. Generally, owners who want to avoid the impending foreclosure have only 60 to 90 days to sell the property, before it is evaluated at a public trustee sale. According to certain state laws, homeowners are even given the option to reclaim their property within 360 days. Homeowners, who do not use this option, if available, will not be able to stop the lenders from foreclosing the properties and eventually selling them at a public auction.
Cheap and low risk investment option.
Investing in foreclosure properties is probably the cheapest way of maximizing your investment returns. If you conduct a thorough research, you can easily identify and buy properties at very reasonable prices. In the past, there have been properties that were sold at discounts as high as sixty to eighty cents to a dollar. The foreclosure investment market is considered a low risk one, since land is a scarce resource. The value of the land will definitely rise, even if the real estate market witnesses a downtrend.
What are the Other benefits?
There is no dearth of foreclosure properties in the market. Foreclosure properties are either sold at auctions or the buyer sells it directly. As compared to the regular real estate market, the foreclosure property market has fewer investors. This makes it a lot easier to find and buy properties below the existing market rates. It is anticipated that the foreclosure properties market is set to grow at a steady pace in the next few years. The investment made is worth all the initial effort and patience applied. The foreclosure investment market offers real value on the money spent and the new valuation of the property always reveals that the price paid was well below the existing market value.
How do I buy bank-owned REO properties?
The lender/bank has taken ownership of the property, either through an agreement with the owner during pre-foreclosure or at the public auction. The lender usually sells the property to recover the unpaid loan amount. The lender typically clears the title for any buyer, but the potential bargain is often less than a pre-foreclosure or auction property.
What are foreclosures and how do I learn more about buying foreclosures?
Foreclosure is a legal process that allows a lender/bank to sell or take possession of a property due to non-payment of a loan that is secured by that property. ForeclosuresForBuyers will have access to properties that have already been foreclosed (Bank Owned) and properties that are in the foreclosure process (Pre-Foreclosure, Auction).
If a property is in pre-foreclosure, how do I buy before foreclosure?
When a property is in pre-foreclosure, the owner still has a chance to stop the foreclosure process by paying off what is owed or by selling the property. The pre-foreclosure period can last several months, so you may need to be patient when trying to contact the owner in default.
How can I buy an auction property?
After a property owner misses several mortgage payments, the owner has a pre-foreclosure grace period of a few weeks to a few months — depending on the state — to bring the payments up to date and stop any foreclosure proceedings. If the owner does not bring the delinquent payments up to date during the pre-foreclosure period, the property will be sold at a public auction.
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