La Jolla California Foreclosure Auction, Bank Owned REO, and Homes for Sale.

Oct. 4, 2009 - PRLog -- Hello and Welcome to La Jolla California Foreclosure Auction, Bank Owned REO, and Homes for Sale.

If you are reading this, the chances are you found us on one of the top pages of Google, Yahoo, MSN, Bing or other search engines.  We work with many buyers and sellers to help them find the best solution for their situation and we constantly try to give out information that can help you in the decision process.

We wanted to give you an overview of the current foreclosure process.  If you are looking for a foreclosure or REO, or if you are looking to sell a home this may be good information for your situation.

Understanding the foreclosure property auction (also known as Trustee Sale) process takes time, due diligence, and understanding.  Saavy Real Estate investors can find some of the best deals around buying at these auctions, but is it right for everyone?   We would like to help explain further about these auctions and the benefits and downsides of buying Real Estate at them.

Understanding the process is the key, and here is how the process goes as an overview:

Pre-Foreclosure (Also known as Notice of Default).  Pre-Foreclosure is usually when the current homeowner is 90 days past due on their Mortgage.  The current lender files with the County Recorders office a Notice of Default.  When this is filed, this information becomes a matter of public record.  When this notice is filed the lender usually usally gives the homeowner 90 days to come current on the amound their are past due.  During this period a good amount of homeowners lately have been trying to obtain new financing terms by doing a Loan Modification with their current lender or a Short Sale with a Realtor if they know they aren't going to be able to keep up the payments due to hardship.  Both of these things often times delay the foreclosure process as the bank looks to work with the current owner to see if one of these options may be a fit.   Short sales can be a tedious process and if you are in this situation it is important to consult a short sale expert who is familiar with the process, knows how to work with banks, and works with active buyers who can help get you offers quickly to avoid the home from going to auction, we can make this happen!  To learn more about Pre-Foreclosures in La Jolla and actually search Pre-Foreclosures in La Jolla for free visit us at http://www.fourseasrealty.com.  


Foreclosure Sale (Also known as Notice of Trustee Sale).  The Foreclosure sale usually occurs and is scheduled roughly 90 days after the Notice of Default is issued.  Although, most of the time this process is being delayed as of recent with the overwhelming volume of activity.  Notice of Trustee sale usally takes place on the courthouse steps in the County in which the property is located.  In this case, most auctions take place in Downtown, San Diego or in El Cajon.  Properties are sold as is, without any warranties or guarantees, and they must be paid for on the spot with a certified cashiers check.  Many times the buyer of that foreclosure property has to end up evicting the current homeowner or tenant and this sometimes can be a lenghty process.   However, even though its a riskier process, the reward can be great.  To learn more about Foreclosure Sales In La Jolla California and Search upcoming properties scheduled for Foreclosure click the blue link above.


Bank Owned (REO).  Bank owned properties are the properties that have gone through the two steps above and didn't sell at the Foreclosure Sale.  In this case, the current lender has to take them back if there are no acceptable bids.   The lender is then responsible for evicting the current homeowner or tenant and hiring a listing agent in most cases.  This can also be a great area for an investor or an active home buyer, because in most cases, the lender does not want to own these properties and prices them to sell quickly.  These can be great deals for an investor or home buyer, you can also research these properties in greater detail than Foreclosure Auctions, and most all of the time you can use financing and obtain a home warranty with these.  To learn more about Bank Owned REO listings in La Jolla California visit us at http://www.fourseasrealty.com.


Re-Sale Properties.  Many people think Re Sale properties are not a great deal with all the Foreclosure properties out there.  This is actually not true in many cases.  Re Sales have to be priced aggresively and in line with Foreclosures if they want to have a chance of selling in todays market.  In a lot of cases a buyer or investor can buy a re sale that has been taken good care of, doesn't need much fix up, and is very close in price to that of a Foreclosure that might require a lot of work.  Sometimes people think that because they are buying a Foreclosure at 20% below market value that its always a steal, however sometimes there is 20% worth of rehabilitation to get the property back to standards that actually makes it the same deal as a re-sale.   This makes the right Re Sales a great option as well.  To learn more about Re Sale Homes for Sale in La Jolla click the link above.

Ultimately, the decision is yours and what is right for you and your situation.  We have built a fully integrated Real Estate Website that will allow you to search every aspect of what we have discussed above.  To search Pre-Foreclosure, Foreclosure Auction, Bank Owned REO, and New and ReSale Homes in La Jolla visit us at http://www.fourseasrealty.com.

We also attend the Foreclosure Auctions for La Jolla on a weekly basis and track virtually every Foreclosure property in La Jolla  and would be happy to talk with you about your needs further.  We also work with many short sale and resale sellers and have an internet marketing campain to sell your home that is unmatched by other companies.

We Look forward to hearing from you!

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Four Seasons Realty is a full fledged Real Estate firm in San Diego County. Our website offers full MLS search capabilities along with Foreclosure, REO, and Short Sale listings. We look forward to hearing from you!