Legal Question in Real Estate Law in California

Re: Buying property preforeclosure

It depends. Who is foreclosing, is the first or second or subsequent encumbrance? Are you purchasing the property from the lender, or the owner?

Before you purchase any property you need to know precisely what liens exist against the property. You should spend the money to have a title company provide at least a preliminary title report, and it would be advisable to work with a title company to obtain a title policy on the property.

If you are not careful or do not know what you are doing, it is likely you will be purchasing a hughe problem that could cost you hundres of thousands of dollars.