Trustee Sales Are Not Selling!
By, Veronica Cabrera
May, 2 2012
Lately, I have been checking on trustee sales where investors try to buy properties for cash, before banks foreclose on them. From about 30 properties that were going to be foreclosed today in Santa Ana's Courthouse, about 25 of those were postponed. There is a lot of work to do before going to the sale. For example:
- We have to check tax records for other liens besides the first position lender.
- We have to preview the property to check on the area and condition,
- We have to check on unpaid tax bill and much more!
- We also have to keep calling, just before the sale, to confirm whether the sale is still active or if it has been postponed.
Foreclosure sales are getting postponed some time for years! On top of that, some of the properties are going back to the lender because sometimes banks ask for 150% over the actual fair market value. What is this!?
In conclusion, There is a lot of work to be done with very little results!
Veronica Cabrera, Realtor
Realty ONE Group
Huntington Beach, Riverside, San Bernardino, CA
veronicasreohomes.com
(714) 809-6521
R.E. Lic. #0143140
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