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

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. 4 beds, 2 full baths
    Home size: 3,457 sq ft
    Lot size: 6,749 sqft
    Year built: 1911
    Days on market: 1
  2. 2 beds, 1 full bath
    Home size: 1,124 sq ft
    Lot size: 24,297 sqft
    Year built: 1984
    Days on market: 1
  3. 3 beds, 2 full baths
    Home size: 3,010 sq ft
    Lot size: 11,702 sqft
    Year built: 1959
    Parking spots: 4
    Days on market: 3
  4. 4 beds, 2 full baths
    Home size: 1,876 sq ft
    Lot size: 5,400 sqft
    Year built: 1910
    Days on market: 7
  5. 3 beds, 2 full baths
    Home size: 1,979 sq ft
    Lot size: 5,105 sqft
    Year built: 1932
    Parking spots: 4
    Days on market: 14
  6. 2 beds, 1 full, 2 part baths
    Home size: 1,450 sq ft
    Lot size: 5,575 sqft
    Year built: 1953
    Parking spots: 4
    Days on market: 15
  7. 2 beds, 2 full, 1 part baths
    Home size: 1,682 sq ft
    Lot size: 1.94 ac
    Year built: 1989
    Days on market: 15
  8. 3 beds, 2 full baths
    Home size: 945 sq ft
    Lot size: 5,104 sqft
    Year built: 1924
    Parking spots: 4
    Days on market: 16
  9. 9 beds, 9 full, 8 part baths
    Home size: 15,727 sq ft
    Lot size: 1.68 ac
    Year built: 1931
    Parking spots: 12
    Days on market: 25
  10. 2 beds, 2 full baths
    Home size: 1,110 sq ft
    Lot size: 9,287 sqft
    Year built: 2005
    Parking spots: 4
    Days on market: 27
  11. 3 beds, 2 full baths
    Home size: 1,202 sq ft
    Lot size: 20,701 sqft
    Year built: 1997
    Parking spots: 4
    Days on market: 28
  12. 2 beds, 1 full bath
    Home size: 1,006 sq ft
    Lot size: 6,105 sqft
    Year built: 1915
    Days on market: 30
  13. 3 beds, 1 full bath
    Home size: 986 sq ft
    Lot size: 4,680 sqft
    Year built: 1921
    Parking spots: 2
    Days on market: 31
  14. 2 beds, 2 full baths
    Home size: 976 sq ft
    Lot size: 5,100 sqft
    Year built: 1925
    Days on market: 31
  15. 3 beds, 2 full, 1 part baths
    Home size: 2,043 sq ft
    Lot size: 5,048 sqft
    Year built: 1954
    Days on market: 32
  16. 2 beds, 2 full baths
    Home size: 1,467 sq ft
    Lot size: 5,407 sqft
    Year built: 1909
    Parking spots: 1
    Days on market: 36
  17. 2 beds, 1 full bath
    Home size: 900 sq ft
    Lot size: 5,884 sqft
    Year built: 1944
    Days on market: 37
  18. 3 beds, 1 full bath
    Home size: 959 sq ft
    Lot size: 4,588 sqft
    Year built: 1921
    Days on market: 38
  19. 2 beds, 1 full bath
    Home size: 836 sq ft
    Lot size: 5,322 sqft
    Year built: 1907
    Days on market: 52
  20. 3 beds, 1 full, 1 part baths
    Home size: 1,350 sq ft
    Lot size: 5,584 sqft
    Year built: 1940
    Days on market: 53
  21. 2 beds, 1 full bath
    Home size: 1,000 sq ft
    Lot size: 2,557 sqft
    Year built: 1923
    Days on market: 60
  22. 4 beds, 2 full baths
    Home size: 2,380 sq ft
    Lot size: 6,131 sqft
    Year built: 1914
    Days on market: 61
  23. 2 beds, 1 full bath
    Home size: 1,026 sq ft
    Lot size: 4,670 sqft
    Year built: 1924
    Parking spots: 5
    Days on market: 66
  24. 4 beds, 2 full, 1 part baths
    Home size: 2,563 sq ft
    Lot size: 7,005 sqft
    Year built: 1936
    Parking spots: 6
    Days on market: 69
  25. 3 beds, 2 full baths
    Home size: 1,550 sq ft
    Lot size: 7,500 sqft
    Year built: 2005
    Days on market: 71

See all Los Angeles Foreclosures.
(all data current as of 5/29/2015)

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

Buying or Selling Los Angeles Real Estate

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