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 8/29/2014)

  1. 1 bed, 1 full bath
    Home size: 669 sq ft
    Lot size: 2,508 sqft
    Year built: 1923
    Parking spots: 2
    Days on market: 1
  2. 1 bed, 1 full bath
    Home size: 599 sq ft
    Lot size: 31,703 sqft
    Year built: 1995
    Parking spots: 2
    Days on market: 1
  3. 1 bed, 1 part bath
    Home size: 880 sq ft
    Lot size: 4,652 sqft
    Year built: 1909
    Days on market: 2
  4. 3 beds, 2 full baths
    Home size: 1,248 sq ft
    Lot size: 5,941 sqft
    Year built: 1927
    Parking spots: 4
    Days on market: 3
  5. 2 beds, 1 full bath
    Home size: 883 sq ft
    Lot size: 6,461 sqft
    Year built: 1948
    Parking spots: 2
    Days on market: 5
  6. 3 beds, 1 full, 1 part baths
    Home size: 2,236 sq ft
    Lot size: 8,436 sqft
    Year built: 1947
    Days on market: 7
  7. 3 beds, 2 full baths
    Home size: 1,583 sq ft
    Lot size: 12.15 ac
    Year built: 1942
    Parking spots: 2
    Days on market: 7
  8. 1 bed, 1 full bath
    Home size: 715 sq ft
    Lot size: 715 sqft
    Year built: 1971
    Parking spots: 2
    Days on market: 8
  9. 3 beds, 3 full baths
    Home size: 1,527 sq ft
    Lot size: 4,494 sqft
    Year built: 1976
    Parking spots: 2
    Days on market: 8
  10. 2 beds, 1 full bath
    Home size: 1,312 sq ft
    Lot size: 4,090 sqft
    Year built: 1932
    Days on market: 9
  11. 1 bed, 1 full bath
    Home size: 720 sq ft
    Lot size: 3,255 sqft
    Year built: 1924
    Days on market: 11
  12. 3 beds, 2 full baths
    Home size: 1,600 sq ft
    Lot size: 6,077 sqft
    Year built: 1919
    Days on market: 14
  13. 2 beds, 1 full bath
    Home size: 768 sq ft
    Lot size: 4,516 sqft
    Year built: 1924
    Days on market: 15
  14. 4 beds, 3 full baths
    Home size: 1,679 sq ft
    Lot size: 5,579 sqft
    Year built: 1964
    Parking spots: 4
    Days on market: 16
  15. 3 beds, 1 full bath
    Home size: 776 sq ft
    Lot size: 1,285 sqft
    Year built: 1923
    Days on market: 17
  16. 3 beds, 2 full baths
    Home size: 3,063 sq ft
    Lot size: 9,042 sqft
    Year built: 1940
    Parking spots: 4
    Days on market: 18
  17. 3 beds, 2 full baths
    Home size: 1,374 sq ft
    Lot size: 4,802 sqft
    Year built: 1925
    Parking spots: 7
    Days on market: 23
  18. 7 beds, 2 full baths
    Home size: 2,424 sq ft
    Lot size: 6,450 sqft
    Year built: 1920
    Days on market: 25
  19. 7 beds, 2 full baths
    Home size: 2,424 sq ft
    Lot size: 6,450 sqft
    Year built: 1920
    Days on market: 25
  20. 3 beds, 2 full, 1 part baths
    Home size: 1,200 sq ft
    Lot size: 5,206 sqft
    Year built: 1908
    Days on market: 36
  21. 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: 37
  22. 2 beds, 2 full baths
    Home size: 1,343 sq ft
    Lot size: 4,993 sqft
    Year built: 1926
    Days on market: 39
  23. 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: 39
  24. 3 beds, 4 full baths
    Home size: 2,876 sq ft
    Lot size: 7,756 sqft
    Year built: 1959
    Days on market: 39
  25. 2 beds, 1 full bath
    Home size: 988 sq ft
    Lot size: 4,799 sqft
    Year built: 1913
    Parking spots: 2
    Days on market: 41

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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Date last updated: 8/29/14 4:46 AM PDT

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