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

See all Los Angeles Foreclosures.
(all data current as of 12/20/2014)

  1. 3 beds, 1 full bath
    Home size: 1,036 sq ft
    Lot size: 6,651 sqft
    Year built: 1922
    Parking spots: 2
    Days on market: 1
  2. 2 beds, 1 full bath
    Home size: 1,038 sq ft
    Lot size: 4,830 sqft
    Year built: 1925
    Parking spots: 2
    Days on market: 9
  3. 2 beds, 1 full bath
    Home size: 716 sq ft
    Lot size: 4,335 sqft
    Year built: 1948
    Parking spots: 1
    Days on market: 9
  4. 2 beds, 2 full baths
    Home size: 980 sq ft
    Lot size: 3,723 sqft
    Year built: 1963
    Days on market: 11
  5. 2 beds, 1 full bath
    Home size: 756 sq ft
    Lot size: 3,370 sqft
    Year built: 1915
    Parking spots: 6
    Days on market: 11
  6. 3 beds, 1 full bath
    Home size: 959 sq ft
    Lot size: 4,588 sqft
    Year built: 1921
    Days on market: 12
  7. 2 beds, 1 full bath
    Home size: 1,222 sq ft
    Lot size: 6,349 sqft
    Year built: 1947
    Parking spots: 2
    Days on market: 17
  8. 3 beds, 1 full bath
    Home size: 1,539 sq ft
    Lot size: 7,311 sqft
    Year built: 1926
    Parking spots: 2
    Days on market: 25
  9. 3 beds, 3 full baths
    Home size: 1,680 sq ft
    Lot size: 9,809 sqft
    Year built: 2005
    Days on market: 26
  10. 2 beds, 2 full baths
    Home size: 1,020 sq ft
    Lot size: 4,218 sqft
    Year built: 1939
    Days on market: 29
  11. 4 beds, 2 full baths
    Home size: 1,232 sq ft
    Lot size: 6,400 sqft
    Year built: 1925
    Parking spots: 4
    Days on market: 30
  12. 3 beds, 3 full, 1 part baths
    Home size: 1,930 sq ft
    Lot size: 11,294 sqft
    Year built: 1994
    Parking spots: 4
    Days on market: 30
  13. 3 beds, 2 full, 1 part baths
    Home size: 1,395 sq ft
    Lot size: 7,000 sqft
    Year built: 1921
    Parking spots: 4
    Days on market: 30
  14. 3 beds, 1 full bath
    Home size: 708 sq ft
    Lot size: 3,154 sqft
    Year built: 1927
    Parking spots: 4
    Days on market: 31
  15. 1 bed, 1 full bath
    Home size: 853 sq ft
    Lot size: 5.12 ac
    Year built: 1966
    Days on market: 33
  16. 3 beds, 1 full, 2 part baths
    Home size: 1,807 sq ft
    Lot size: 6,644 sqft
    Year built: 1973
    Parking spots: 3
    Days on market: 35
  17. 2 beds, 1 full, 1 part baths
    Home size: 1,360 sq ft
    Lot size: 5,100 sqft
    Year built: 1941
    Days on market: 43
  18. 4 beds, 1 full bath
    Home size: 2,352 sq ft
    Lot size: 5,001 sqft
    Year built: 1902
    Days on market: 43
  19. 4 beds, 3 full baths
    Home size: 1,725 sq ft
    Lot size: 5,242 sqft
    Year built: 1926
    Days on market: 47
  20. 4 beds, 2 full, 1 part baths
    Home size: 1,360 sq ft
    Lot size: 4,533 sqft
    Year built: 1914
    Parking spots: 2
    Days on market: 48
  21. 3 beds, 1 full bath
    Home size: 952 sq ft
    Lot size: 3,253 sqft
    Year built: 1927
    Days on market: 52
  22. 4 beds, 1 full bath
    Home size: 1,344 sq ft
    Lot size: 5,595 sqft
    Year built: 1980
    Days on market: 59
  23. 3 beds, 2 full baths
    Home size: 1,312 sq ft
    Lot size: 6,199 sqft
    Year built: 1922
    Days on market: 70
  24. 2 beds, 1 full bath
    Home size: 1,092 sq ft
    Lot size: 6,500 sqft
    Year built: 1925
    Parking spots: 4
    Days on market: 75
  25. 3 beds, 2 full baths
    Home size: 1,280 sq ft
    Lot size: 5,424 sqft
    Year built: 1922
    Days on market: 75

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

Buying or Selling Los Angeles Real Estate

Buying or selling a Los Angeles home can be a daunting process in a city this size, especially if you’re new to L.A. Town. You’ll need a resident expert to show you around and help you narrow down the areas where you might like to live. I will help you find the perfect home in the right area to fit your lifestyle, budget and needs!

When I list and sell Los Angeles homes for my clients I strive to make the experience a pleasant one. My mission is to provide outstanding service while utilizing the best practices and systems available.

If you are an absentee owner, you’ll need someone to handle all the details that you can’t handle remotely. That’s where I come in – I’m there when you can’t be. I also specialize in lease property in Los Angeles.

Westside Los Angeles Real Estate, including, but not limited to:

For more information on how I can best serve your Los Angeles real estate needs, don’t hesitate to fill out the contact form or give me a call at 310-473-6919.

Jane Peters

Jane Peters is a Los Angeles Realtor®, specializing in absentee owners, out-of-town-buyers and those needing that extra personal touch to make the buying and selling of Los Angeles real estate a smooth and, believe it or not, fun process.

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Comments

  1. Great tie-in with the auction information and the listings, Jane! Love that you’ve laid it all out there for your Los Angeles homebuyers.

  2. Thanks, Debe.

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