CRR Blog

There are deals every day... Just look at some from Today!!!


These are results from today's auctions.  These are properties that sold to bidders just like you.   To buy properties just like this all you need to do is use our website like a shopping catalog.  Pick the ones you like and place bids for each one based on the most that you are willing to spend.  If you do this consistently, you can get deals just like these examples from today:


 


2BR/1BA Home on 64th St in Los Angeles sold today for $179,700 Est Value: $312,263


4BR/3BA Home on Cedar Spring Dr in Hemet sold today for $185,100 Est Value: $227,717


4BR/3BA Home with Pool on Paseo Tasco Cir in Corona sold for $405,000 Est Value: $505,149


2BR/1BA Home on Nordhoff St in North Hills sold today for $330,650 Est Value: $401,873

After the Foreclosure is Over...

We are often asked about what happens after a property goes to foreclosure auction.


If you buy a property at auction, it becomes yours that day.  If the property is vacant, you are free to change the locks.  You should get your property insurance policy the same day.  If the property is not vacant, then you should post a notice as the new owner to gain access in 24 hours to inspect and take pictures.  You can then give notice to the old owner or tenant.  If the old owner is in the property, you can give them a 3 day notice to quit the property.  If a renter is in the property, they need to provide proof of a rental agreement, and you can give them up to 90 days to move, but they must pay you fair market rent to qualify or you give them a 3 day notice.  If they refuse to pay rent, they have to leave.  It is standard for new owners to follow the process of eviction to get old owners, renters, or squatters out of a house.  Recently the police have been proactive in removing squatters without an eviction procedure.  If you are unsure, contact the local police to find out what their policy is. 


After foreclosure, the old homeowner may be liable for unpaid balances on cash-out loans that were charged off, especially in event of a judicial foreclosure.  The old homeowner is not responsible for charged off balances on purchase loans, although lenders have made attempts to press the issue.  Court rulings have resolved that the lenders are not to demand payment, but sometimes they just do.  There is a similar situation with some Homeowners Associations.  They are not supposed to ask the new owner to pay off old HOA dues.  Many times, the HOA's have recorded liens in 2nd or 3rd position against properties, which get charged off as a result of the foreclosure.  If you buy a property at auction, the HOA may ask you to pay the old dues.  You should NOT be responsible for any dues prior to you taking ownership. 

You were waiting for Right Now!!!

If you have been waiting to buy...  Just look at some the great deals people have gotten this week.


It looks like the time for the individual investor to buy has come back. 


4BR/3BA Home on Carlotta Dr in Palm Desert sold for $285,041 Est Value: $490,857


4BR/2BA Home on Paseo Caliente in Yorba Linda sold for $696,000 Est Value: $871,888


2BR/2BA Home on Jackson Ave in San Gabriel sold for $471,200 Est Value: $642,776


4BR/2BA Home on Cortner Ave in Cerritos sold for $520,641 Est Value: $655,825


3BR/1BA Home on Poinsettia Dr in Buena Park sold for $300,000 Est Value: $433,418


There are more from this week with similar great savings.


The time to buy is NOW!!!


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