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 1/27/2015)

  1. 2 beds, 2 full baths
    Home size: 1,193 sq ft
    Lot size: 1.91 ac
    Year built: 1983
    Days on market: 1
  2. 3 beds, 2 full baths
    Home size: 1,467 sq ft
    Lot size: 5,192 sqft
    Year built: 1924
    Days on market: 1
  3. 4 beds, 2 full baths
    Home size: 1,498 sq ft
    Lot size: 5,126 sqft
    Year built: 1942
    Parking spots: 4
    Days on market: 4
  4. 2 beds, 1 full, 1 part baths
    Home size: 1,524 sq ft
    Lot size: 5,874 sqft
    Year built: 1963
    Days on market: 4
  5. 2 beds, 1 full bath
    Home size: 783 sq ft
    Lot size: 4,799 sqft
    Year built: 1938
    Parking spots: 4
    Days on market: 5
  6. 4 beds, 2 full baths
    Home size: 1,667 sq ft
    Lot size: 6,040 sqft
    Year built: 1912
    Days on market: 5
  7. 3 beds, 2 full baths
    Home size: 1,654 sq ft
    Lot size: 5,209 sqft
    Year built: 1914
    Days on market: 6
  8. 3 beds, 1 full bath
    Home size: 952 sq ft
    Lot size: 3,425 sqft
    Year built: 1954
    Parking spots: 2
    Days on market: 6
  9. 3 beds, 2 full baths
    Home size: 1,188 sq ft
    Lot size: 3,000 sqft
    Year built: 1924
    Parking spots: 4
    Days on market: 8
  10. 2 beds, 2 full baths
    Home size: 1,169 sq ft
    Lot size: 20,554 sqft
    Year built: 1987
    Parking spots: 4
    Days on market: 8
  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: 12
  12. 5 beds, 3 full baths
    Home size: 1,892 sq ft
    Lot size: 5,589 sqft
    Year built: 1910
    Days on market: 13
  13. 3 beds, 2 full baths
    Home size: 1,336 sq ft
    Lot size: 4,815 sqft
    Year built: 1906
    Days on market: 13
  14. 1 bed, 1 full bath
    Home size: 1,378 sq ft
    Lot size: 6,305 sqft
    Year built: 1911
    Days on market: 15
  15. 2 beds, 2 full baths
    Home size: 973 sq ft
    Lot size: 13,037 sqft
    Year built: 1973
    Days on market: 15
  16. 2 beds, 1 full bath
    Home size: 768 sq ft
    Lot size: 3,713 sqft
    Year built: 1913
    Days on market: 18
  17. 2 beds, 1 full bath
    Home size: 720 sq ft
    Lot size: 6,800 sqft
    Year built: 1907
    Days on market: 21
  18. 2 beds, 1 full bath
    Home size: 763 sq ft
    Lot size: 2,399 sqft
    Year built: 1925
    Days on market: 22
  19. 3 beds, 1 full bath
    Home size: 1,875 sq ft
    Lot size: 6,250 sqft
    Year built: 1919
    Parking spots: 4
    Days on market: 24
  20. 2 beds, 2 full, 1 part baths
    Home size: 1,645 sq ft
    Lot size: 23,516 sqft
    Year built: 1991
    Parking spots: 2
    Days on market: 34
  21. 3 beds, 1 full bath
    Home size: 893 sq ft
    Lot size: 3,000 sqft
    Year built: 1958
    Days on market: 34
  22. 2 beds, 2 full baths
    Home size: 1,250 sq ft
    Lot size: 10,478 sqft
    Year built: 1965
    Days on market: 34
  23. 2 beds, 1 full bath
    Home size: 716 sq ft
    Lot size: 4,335 sqft
    Year built: 1948
    Parking spots: 1
    Days on market: 47
  24. 2 beds, 2 full baths
    Home size: 980 sq ft
    Lot size: 3,723 sqft
    Year built: 1963
    Days on market: 49
  25. 3 beds, 1 full bath
    Home size: 959 sq ft
    Lot size: 4,588 sqft
    Year built: 1921
    Days on market: 50

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.

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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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