"Creating a Serene Real Estate Experience"

 California Foreclosure Process

1. Notice of Default

    a. Start of the foreclosure process. Initial notice recorded when borrower does not meet terms of  the loan.

2. Notice of Trustee Sale

    a. Sets auction date. Can be recorded 90 days after Notice of Default.

3. Auction

    a. Intial auction date can be just 14 days after Notice of Trustees Sale is recorded

    b. Four things can happen when the subject property goest to auction:

        - It can get POSTPONED

        - It can get SOLD TO THE BANK

        - It can get SOLD TO A 3rd PARTY

        - It can get CANCELLED

4. Trustee's Deed

    a. Transfers property to winning bidder of to foreclosing bank if no bids are received

CLICK HERE TO RECEIVE A FREE LIST OF FORECLOSURES!

The Opportunity

1. Preforeclosure

    a. Properties are considered to be in Pre-foreclosure from the filing of the initial Notice of Default until the property is sold at auction. During this period investors can purchase the home directly from the owner, Realtor's can list the home, and Lender's can help them refinance.

2. Auction

    a. Auction properties have had a Notice of Trustee Sale Filed setting an auction date, and have not yet been sold or cancelled. Investors can purchase the home at auction; and Realtors and Lenders can monitor their clients properties, to ensure their listing and loan activities are completed before the auction.

3. Bank Owned (REO)

    a. Bank owned properties received no bid at auction, resulting in the bank taking ownership. These properties are commonly referred to by the banks as "REO's (Real Estate Owned). Investorscan purchase these properties directly from the bank; and Realtors can solicit the listing, since banks will almost certainly market the property for sale.

CLICK HERE TO RECEIVE A FREE LIST OF FORECLOSURES!