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 7/29/2014)

  1. 3 beds, 2 full, 1 part baths
    Home size: 1,200 sq ft
    Lot size: 5,206 sqft
    Year built: 1908
    Days on market: 6
  2. 4 beds, 2 full baths
    Home size: 1,232 sq ft
    Lot size: 6,400 sqft
    Year built: 1925
    Parking spots: 2
    Days on market: 7
  3. 2 beds, 1 full bath
    Home size: 1,064 sq ft
    Lot size: 5,309 sqft
    Year built: 1919
    Days on market: 7
  4. 2 beds, 1 full bath
    Home size: 1,105 sq ft
    Lot size: 6,329 sqft
    Year built: 1922
    Parking spots: 2
    Days on market: 8
  5. 2 beds, 2 full baths
    Home size: 1,343 sq ft
    Lot size: 4,993 sqft
    Year built: 1926
    Days on market: 9
  6. 2 beds, 1 full bath
    Home size: 1,343 sq ft
    Lot size: 5,802 sqft
    Year built: 1927
    Parking spots: 2
    Days on market: 9
  7. 3 beds, 1 full bath
    Home size: 1,330 sq ft
    Lot size: 6,676 sqft
    Year built: 1928
    Parking spots: 2
    Days on market: 9
  8. 4 beds, 4 full baths
    Home size: 3,642 sq ft
    Lot size: 6,085 sqft
    Year built: 1995
    Days on market: 9
  9. 5 beds, 3 full baths
    Home size: 2,638 sq ft
    Lot size: 6,505 sqft
    Year built: 1926
    Days on market: 9
  10. 3 beds, 4 full baths
    Home size: 2,876 sq ft
    Lot size: 7,756 sqft
    Year built: 1959
    Days on market: 9
  11. 1 bed, 1 full bath
    Home size: 400 sq ft
    Lot size: 686 sqft
    Year built: 1923
    Days on market: 11
  12. 2 beds, 1 full bath
    Home size: 988 sq ft
    Lot size: 4,799 sqft
    Year built: 1913
    Parking spots: 1
    Days on market: 11
  13. 3 beds, 3 full baths
    Home size: 1,516 sq ft
    Lot size: 2,327 sqft
    Year built: 2004
    Parking spots: 2
    Days on market: 13
  14. 4 beds, 2 full baths
    Home size: 1,312 sq ft
    Lot size: 6,000 sqft
    Year built: 1937
    Days on market: 13
  15. 3 beds, 1 full bath
    Home size: 984 sq ft
    Lot size: 5,102 sqft
    Year built: 1922
    Parking spots: 3
    Days on market: 14
  16. 2 beds, 1 full bath
    Home size: 1,080 sq ft
    Lot size: 5,407 sqft
    Year built: 1952
    Days on market: 14
  17. 2 beds, 2 full baths
    Home size: 846 sq ft
    Lot size: 6,125 sqft
    Year built: 1985
    Parking spots: 2
    Days on market: 15
  18. 4 beds, 1 full, 1 part baths
    Home size: 2,279 sq ft
    Lot size: 4,617 sqft
    Year built: 1925
    Parking spots: 1
    Days on market: 15
  19. 2 beds, 1 full bath
    Home size: 1,012 sq ft
    Lot size: 5,067 sqft
    Year built: 1911
    Parking spots: 1
    Days on market: 16
  20. 3 beds, 2 full baths
    Home size: 1,373 sq ft
    Lot size: 5,462 sqft
    Year built: 1995
    Days on market: 21
  21. 4 beds, 2 full baths
    Home size: 1,016 sq ft
    Lot size: 5,600 sqft
    Year built: 1906
    Days on market: 28
  22. 3 beds, 2 full baths
    Home size: 2,236 sq ft
    Lot size: 8,436 sqft
    Year built: 1947
    Days on market: 29
  23. 3 beds, 3 full baths
    Home size: 2,190 sq ft
    Lot size: 18,467 sqft
    Year built: 1923
    Parking spots: 1
    Days on market: 30
  24. 4 beds, 2 full baths
    Home size: 1,873 sq ft
    Lot size: 7,398 sqft
    Year built: 1947
    Parking spots: 2
    Days on market: 32
  25. 2 beds, 2 full baths
    Home size: 1,300 sq ft
    Lot size: 5,202 sqft
    Year built: 1924
    Parking spots: 2
    Days on market: 40

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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Date last updated: 7/29/14 1:30 PM PDT

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