Legal Question in Real Estate Law in California
forcloser
How to buy a forcloser home, where do start, where do I get the info from and where do I finish,the pro and con of doing so, what do I need to bid on a forcloser and to complete the trans action what do I look out for?
samuel
2 Answers from Attorneys
Re: forcloser
There are about three fairly good paperback books on how to find and buy properties in foreclosure.
Properties can be acquired by showing up and bidding at foreclosure auctions, or by negotiating with owner/borrowers for a home equity purchase contract.
Understanding the legal ins-and-outs as well as the marketplace is absolutely essential to making consistent profits. It also helps to know a lot about physical inspections and how to check the condition of title.
Buying at auction requires cash or bank letters of credit for the full bid amount.
Re: forcloser
This is not an easy series of questions to answer quickly. You should consider taking a course or join an organization like the Real Estate Club of Los Angeles to learn more about the process.
Related Questions & Answers
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
