Ventura County Public auction of TAX-DEFAULTED Properties. This link is to more Info. (THE AUCTION SCHEDULED JANUARY 14, 2005 HAS BEEN CANCELED. THE PROPERTY HAS BEEN REDEEMED. ) The next auction will be held Foreclosures In Ventura County Foreclosures In Ventura County On October 19, 2003 there were 0 Bank foreclosures in Ventura and Santa Barbara Counties. 26 in LA County. ---- 0 Hud or VA foreclosures in Ventura and Santa Barbara Counties. only 119 in LA County according to the links at bottem of this page. Buying a Foreclosure is very difficult but buyers like with the concept of saving money on their home purchase. That's why they seek information about foreclosed properties. The perception is that they will save money. This isn't always true. Not all foreclosures are good deals. The plain truth is that most foreclosed homes are now sold by real estate brokers representing the lending institution that foreclosed the mortgage or trust deed. Why is this? Over the years, lenders have learned that the regular distribution channel for real estate sales is still the best. In other words, selling their foreclosed property inventory through Real estate agents is the fastest, most economical way for lenders to dispose of these properties. These are "post-foreclosure" properties, they have no liens, encumbrances or other issues that may cloud the title. Therefore, they are RTG (ready-to-go). The only difference between these properties and other resale's is that the lender had to force a foreclosure proceeding for non-compliance with the mortgage or trust deed. Typically, this means non-payment of the loan as stipulated in the borrower's agreement. Most foreclosures will be sold at market value. That's because the lender has authorized the repairs (typically, little more than paint, carpet and some cosmetic work) and through a broker's opinion of price and market value, has determined that the property, in good condition, will bring fair value. Other properties may need more work. The real dogs, the worst of the worst, will be wholesaled to investors. These properties rarely make it to the general public. The free real estate magazines available in supermarkets and convenient stores are filled with ads from brokers/agents offering foreclosed properties. These brokers/agents have learned the value of offering these properties long ago. If nothing else, these ads bring buyers into their office that might not reached before. There is hardly a broker/agent alive today, that hasn't been asked about foreclosed properties from prospective buyers. There are no special requirements necessary for selling lender-owned properties. The seller's representative (a local brokerage) will offer these properties for sale and you will participate in the transaction as you would with any other home purchase/sale, new construction, resale, foreclosure or other. Regulations regarding the sale of government-owned properties have changed frequently in the last few years. To make sure you're up-to-date on the latest changes, you can visit these links hud.gov for HUD-owned properties or Hud Home sales in Southern California and va.gov for VA-owned properties. or Los Angeles VA Home Here is a link so you can look for Bank and Other Foreclosures for free. This link has information on many aspects of buying foreclosures. |
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