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 10/1/2014)

  1. 3 beds, 1 full bath
    Home size: 776 sq ft
    Lot size: 1,285 sqft
    Year built: 1923
    Days on market: 50
  2. 2 beds, 1 full bath
    Home size: 969 sq ft
    Lot size: 1.06 ac
    Year built: 1948
    Days on market: 215
  3. 1 bed, 1 full bath
    Home size: 599 sq ft
    Lot size: 31,703 sqft
    Year built: 1995
    Parking spots: 2
    Days on market: 34
  4. 2 beds, 1 full bath
    Home size: 1,244 sq ft
    Lot size: 6,000 sqft
    Year built: 1903
    Days on market: 1
  5. 2 beds, 1 full bath
    Home size: 1,050 sq ft
    Lot size: 4,878 sqft
    Year built: 1953
    Parking spots: 2
    Days on market: 5
  6. 2 beds, 1 full bath
    Home size: 964 sq ft
    Lot size: 5,129 sqft
    Year built: 1912
    Parking spots: 2
    Days on market: 1
  7. 2 beds, 1 full bath
    Home size: 1,040 sq ft
    Lot size: 5,461 sqft
    Year built: 1922
    Days on market: 8
  8. 2 beds, 1 full bath
    Home size: 780 sq ft
    Lot size: 4,966 sqft
    Year built: 1923
    Parking spots: 2
    Days on market: 9
  9. 1 bed, 1 full bath
    Home size: 560 sq ft
    Lot size: 41,530 sqft
    Year built: 1989
    Days on market: 127
  10. 3 beds, 1 full bath
    Home size: 984 sq ft
    Lot size: 5,102 sqft
    Year built: 1922
    Parking spots: 3
    Days on market: 76
  11. 2 beds, 1 full bath
    Home size: 754 sq ft
    Lot size: 6,076 sqft
    Year built: 1920
    Days on market: 9
  12. 3 beds, 2 full baths
    Home size: 1,444 sq ft
    Lot size: 3,875 sqft
    Year built: 1981
    Parking spots: 4
    Days on market: 188
  13. 2 beds, 1 full bath
    Home size: 1,356 sq ft
    Lot size: 5,419 sqft
    Year built: 1906
    Days on market: 1
  14. 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: 70
  15. 3 beds, 1 full bath
    Home size: 959 sq ft
    Lot size: 4,588 sqft
    Year built: 1921
    Days on market: 63
  16. 3 beds, 1 full bath
    Home size: 1,145 sq ft
    Lot size: 5,209 sqft
    Year built: 1946
    Parking spots: 8
    Days on market: 8
  17. 2 beds, 1 full bath
    Home size: 1,013 sq ft
    Lot size: 5,258 sqft
    Year built: 1925
    Parking spots: 4
    Days on market: 19
  18. 3 beds, 2 full baths
    Home size: 1,302 sq ft
    Lot size: 5,409 sqft
    Year built: 1921
    Days on market: 20
  19. 3 beds, 1 full bath
    Home size: 1,330 sq ft
    Lot size: 6,676 sqft
    Year built: 1928
    Parking spots: 4
    Days on market: 71
  20. 3 beds, 1 full bath
    Home size: 1,400 sq ft
    Lot size: 7,320 sqft
    Year built: 1947
    Days on market: 1
  21. 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: 76
  22. 4 beds, 3 full baths
    Home size: 1,843 sq ft
    Lot size: 2,676 sqft
    Year built: 2008
    Parking spots: 4
    Days on market: 26
  23. 2 beds, 1 full bath
    Home size: 988 sq ft
    Lot size: 4,799 sqft
    Year built: 1913
    Parking spots: 2
    Days on market: 71
  24. 3 beds, 2 full, 1 part baths
    Home size: 1,412 sq ft
    Lot size: 2,039 sqft
    Year built: 2007
    Parking spots: 4
    Days on market: 8
  25. 3 beds, 2 full, 1 part baths
    Home size: 1,200 sq ft
    Lot size: 5,206 sqft
    Year built: 1908
    Days on market: 29

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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