When Buying a Los Angeles Home at a Foreclosure Auction Beware of Unknown Matters

Originally posted on January 22, 2012


We are back to the point about buying a Los Angeles home for a bargain.  You generally get what you pay for.

If you are thinking of buying a home at a foreclosure auction then beware of unknown matters that could pop up, as you will  probably not be offered title insurance on the property.  In a regular sale, the Seller will be paying for your title insurance.  You could be inheriting a bunch of problems which will make it difficult for you when it comes to selling the property.Los Angeles Foreclosure Alternative Deed in Lieu, What is a Deed in Lieu of Foreclosure?

What matters are we talking about here?

1.  Property Taxes

2.  Senior Liens

3.  HOA Liens if the foreclosing lien is not a first mortgage

4.  Federal taxes (IRS has 120 redemption period)

5.  Mechanics’ liens that have priority

6.  Quiet Title Action due to fraud

7.  City Government liens (sewer, trash, abatement, etc.)

8.  Federal judgement liens

9.  Bankruptcies (if no evidence of the Automatic Stay lifted)

10. Easements, Agreements, and CC&Rs.

You may be able to get a binder  from a title company to insure a future transaction ,which may require you to clear all existing matters before an actual sale or refinance.

The foreclosure is not quite the bargain it first seems.

Search Los Angeles Foreclosures for Sale

  1. 2 beds, 1 full bath
    Home size: 883 sq ft
    Lot size: 4,046 sqft
    Year built: 1925
    Days on market: 1
  2. 3 beds, 2 full baths
    Home size: 1,452 sq ft
    Lot size: 5,999 sqft
    Year built: 1938
    Days on market: 2
  3. 3 beds, 3 full baths
    Home size: 2,976 sq ft
    Lot size: 5,047 sqft
    Year built: 2005
    Days on market: 5
  4. 3 beds, 2 full, 1 part baths
    Home size: 1,788 sq ft
    Lot size: 6,521 sqft
    Year built: 2003
    Days on market: 5
  5. 2 beds, 1 full bath
    Home size: 1,184 sq ft
    Lot size: 6,167 sqft
    Year built: 1916
    Days on market: 5
  6. 2 beds, 2 full baths
    Home size: 1,386 sq ft
    Lot size: 6,174 sqft
    Year built: 1906
    Days on market: 6
  7. 3 beds, 2 full baths
    Home size: 1,129 sq ft
    Lot size: 6,753 sqft
    Year built: 1956
    Parking spots: 4
    Days on market: 7
  8. 5 beds, 2 full, 1 part baths
    Home size: 1,840 sq ft
    Lot size: 4,806 sqft
    Year built: 1928
    Days on market: 8
  9. 3 beds, 1 full bath
    Home size: 1,230 sq ft
    Lot size: 5,574 sqft
    Year built: 1935
    Parking spots: 10
    Days on market: 8
  10. 2 beds, 2 full baths
    Home size: 960 sq ft
    Lot size: 18,203 sqft
    Year built: 2008
    Days on market: 8
  11. 3 beds, 2 full baths
    Home size: 1,544 sq ft
    Lot size: 3,581 sqft
    Year built: 1928
    Days on market: 9
  12. 4 beds, 2 full, 1 part baths
    Home size: 1,587 sq ft
    Lot size: 3,250 sqft
    Year built: 2006
    Parking spots: 2
    Days on market: 12
  13. 4 beds, 4 full baths
    Home size: 2,416 sq ft
    Lot size: 4,589 sqft
    Year built: 1933
    Days on market: 14
  14. 3 beds, 1 full, 3 part baths
    Home size: 1,818 sq ft
    Lot size: 4,317 sqft
    Year built: 2007
    Days on market: 15
  15. 3 beds, 1 full bath
    Home size: 941 sq ft
    Lot size: 4,803 sqft
    Year built: 1932
    Parking spots: 4
    Days on market: 26
  16. 3 beds, 3 full baths
    Home size: 3,096 sq ft
    Lot size: 12,012 sqft
    Year built: 1947
    Parking spots: 4
    Days on market: 28
  17. 3 beds, 1 full bath
    Home size: 1,222 sq ft
    Lot size: 5,010 sqft
    Year built: 1906
    Days on market: 29
  18. 5 beds, 2 full baths
    Home size: 1,668 sq ft
    Lot size: 6,207 sqft
    Year built: 1951
    Days on market: 31
  19. 1 bed, 1 full bath
    Home size: 960 sq ft
    Lot size: 27,285 sqft
    Year built: 1923
    Days on market: 33
  20. 2 beds, 1 full bath
    Home size: 1,048 sq ft
    Lot size: 5,204 sqft
    Year built: 1909
    Days on market: 34
  21. 2 beds, 2 full baths
    Home size: 1,588 sq ft
    Lot size: 5,840 sqft
    Year built: 1957
    Days on market: 35
  22. 5 beds, 4 full baths
    Home size: 1,898 sq ft
    Lot size: 7,516 sqft
    Year built: 1992
    Parking spots: 4
    Days on market: 39
  23. 2 beds, 1 full bath
    Home size: 970 sq ft
    Lot size: 5,201 sqft
    Year built: 1927
    Parking spots: 4
    Days on market: 43
  24. 4 beds, 1 full, 1 part baths
    Home size: 1,812 sq ft
    Lot size: 5,977 sqft
    Year built: 1946
    Parking spots: 7
    Days on market: 43
  25. 2 beds, 1 full bath
    Home size: 729 sq ft
    Lot size: 2,197 sqft
    Year built: 1954
    Days on market: 76

See all Los Angeles Foreclosures.
(all data current as of 9/2/2015)

Listing information deemed reliable but not guaranteed. Read full disclaimer.

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