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 4/16/2014)

  1. 2 beds, 1 full bath
    Home size: 1,120 sq ft
    Lot size: 3,600 sqft
    Year built: 1908
    Parking spots: 4
    Days on market: 1
  2. 3 beds, 2 full baths
    Home size: 1,477 sq ft
    Lot size: 7,493 sqft
    Year built: 1947
    Parking spots: 4
    Days on market: 2
  3. 1 bed, 1 full bath
    Home size: 546 sq ft
    Lot size: 1.83 ac
    Year built: 1973
    Days on market: 6
  4. 1 bed, 1 full bath
    Home size: 970 sq ft
    Lot size: 14,962 sqft
    Year built: 1980
    Parking spots: 1
    Days on market: 6
  5. 2 beds, 1 full bath
    Home size: 1,074 sq ft
    Lot size: 3,512 sqft
    Year built: 1914
    Days on market: 7
  6. 3 beds, 2 full baths
    Home size: 1,904 sq ft
    Lot size: 7,729 sqft
    Year built: 1978
    Days on market: 8
  7. 2 beds, 1 full bath
    Home size: 948 sq ft
    Lot size: 5,122 sqft
    Year built: 1937
    Parking spots: 4
    Days on market: 10
  8. 3 beds, 2 full baths
    Home size: 1,210 sq ft
    Lot size: 5,001 sqft
    Year built: 1945
    Parking spots: 4
    Days on market: 10
  9. 3 beds, 4 full baths
    Home size: 1,920 sq ft
    Lot size: 3,512 sqft
    Year built: 1948
    Days on market: 10
  10. 2 beds, 2 full baths
    Home size: 1,588 sq ft
    Lot size: 5,840 sqft
    Year built: 1957
    Days on market: 10
  11. 3 beds, 3 full, 2 part baths
    Home size: 2,933 sq ft
    Lot size: 9,003 sqft
    Year built: 1925
    Parking spots: 4
    Days on market: 13
  12. 3 beds, 1 full bath
    Home size: 1,360 sq ft
    Lot size: 5,401 sqft
    Year built: 1928
    Parking spots: 1
    Days on market: 14
  13. 3 beds, 1 full bath
    Home size: 999 sq ft
    Lot size: 9,502 sqft
    Year built: 1945
    Days on market: 15
  14. 2 beds, 1 full bath
    Home size: 1,104 sq ft
    Lot size: 6,920 sqft
    Year built: 1939
    Days on market: 16
  15. 3 beds, 2 full baths
    Home size: 1,290 sq ft
    Lot size: 1.23 ac
    Year built: 2006
    Parking spots: 2
    Days on market: 16
  16. 4 beds, 4 full baths
    Home size: 3,279 sq ft
    Lot size: 14,337 sqft
    Year built: 1990
    Days on market: 16
  17. 3 beds, 3 full baths
    Home size: 1,427 sq ft
    Lot size: 6,240 sqft
    Year built: 1950
    Parking spots: 4
    Days on market: 17
  18. 4 beds, 2 full baths
    Home size: 2,474 sq ft
    Lot size: 5,479 sqft
    Year built: 1930
    Days on market: 20
  19. 2 beds, 1 full bath
    Home size: 635 sq ft
    Lot size: 3,080 sqft
    Year built: 1947
    Parking spots: 1
    Days on market: 23
  20. 3 beds, 3 full baths
    Home size: 1,516 sq ft
    Lot size: 4,630 sqft
    Year built: 1923
    Days on market: 23
  21. 3 beds, 1 full bath
    Home size: 1,478 sq ft
    Lot size: 5,440 sqft
    Year built: 1909
    Days on market: 25
  22. 3 beds, 1 full bath
    Home size: 836 sq ft
    Lot size: 4,266 sqft
    Year built: 1922
    Days on market: 27
  23. 3 beds, 3 full baths
    Home size: 1,520 sq ft
    Lot size: 11,982 sqft
    Year built: 1987
    Days on market: 27
  24. 2 beds, 3 full baths
    Home size: 2,060 sq ft
    Lot size: 4.51 ac
    Year built: 2009
    Days on market: 27
  25. 1 bed, 1 full bath
    Home size: 875 sq ft
    Lot size: 4,106 sqft
    Year built: 1926
    Parking spots: 2
    Days on market: 28

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: 4/16/14 11:15 PM PDT

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