Foreclosures in California?
Question:
Answer:
Two ways that investors get 'free' lists.
1. Rather than pay they invest the time to search the public records. The records are held at the county level. Recorders office or county courthouse. You can look up everything there.
2. The title company will supply a recent list for no charge if you contact customer service. They need to believe that you are likely to do a deal and when you do the title company will get the business (handling the escrow).
Once you have identified a property you can contact the trustee and become an interested party. The trustee will then keep you up to date with any changes to the file. They likely will charge you to be listed as an interested party.
CA is a trust deed state so most 'foreclosures' are trustee sales. The foreclosure process varies by state.
More info in the articles below. Note you can buy REO property. Most of the time the lender will list with an agent so the info is available for no charge.
www.realtytrac.com has a 7 day free access. Other than that, just hook up with an agent who is knowledgable in foreclosures. They should have access to this list. For example, I have two databases of foreclosures I use to help my clients find undervalued properties.
Regards
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