Thank you for writing this blog. I had found out about this when one of our clients went to an Auction and did not bother to ask our opinion and went ahead to win the bid and bought a property. When he realized there's a lot of matters to take care before he can get a clean title, that's when he approached us and asked for our help. He ended up spending a lot. I have came to a conclusion that a better bargain are in REO or Short Sales which a purchaser can be protected more by using a Professional to assist them.
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.
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
Showing properties 1 - 25 of 381. See more Los Angeles Foreclosures.
(all data current as of 1/22/2012)
- $112,900 : 158 E 109th St, Los Angeles2 beds, 1 full bathHome size: 796 sq ftLot size: 4,126 sq ftYear built: 1925Parking spots: 2Days on market: 3
- $208,000 : 1716 MIRAMAR ST, Los Angeles3 beds, 1.0 bathsHome size: 1,115 sq ftLot size: 4,101 sq ftYear built: 1953Days on market: 3
- $220,000 : 360 W AVENUE 26, Los Angeles2 beds, 2.0 bathsHome size: 990 sq ftYear built: 2006Days on market: 3
- $222,500 : 3420 2nd Avenue, Los Angeles2 beds, 1 full bathHome size: 1,400 sq ftLot size: 5,586 sq ftYear built: 1910Days on market: 3
- $243,800 : 3917 West Avenue 43, Los Angeles2 beds, 1 full bathHome size: 688 sq ftLot size: 4,356 sq ftYear built: 1924Days on market: 3
- $289,900 : 1036 S SERRANO AVE, Los Angeles2 beds, 2.0 bathsHome size: 1,150 sq ftYear built: 2005Days on market: 3
- $296,900 : 522 North Hobart Boulevard, Los Angeles2 beds, 1 full bathHome size: 1,464 sq ftLot size: 5,857 sq ftYear built: 1914Parking spots: 2Days on market: 3
- $590,000 : 829 CYNTHIA AVE, Los Angeles4 beds, 3.0 bathsHome size: 2,483 sq ftLot size: 10,967 sq ftYear built: 1984Parking spots: 6Days on market: 3
- $113,000 : 1139 Van Pelt Ave, Los Angeles3 beds, 1 full bathHome size: 1,064 sq ftLot size: 5,524 sq ftYear built: 1955Parking spots: 2Days on market: 4
- $142,500 : E 79th Street, Los Angeles2 beds, 1.0 bathsHome size: 910 sq ftLot size: 6,664 sq ftYear built: 1925Days on market: 4
- $158,900 : 1347 West 68th Street, Los Angeles3 beds, 1 full bathHome size: 1,212 sq ftLot size: 4,840 sq ftYear built: 1926Parking spots: 1Days on market: 4
- $165,000 : 715 South Mott Street, Los Angeles1 bed, 1 full bathHome size: 480 sq ftLot size: 5,154 sq ftYear built: 1920Parking spots: 1Days on market: 4
- $174,900 : 7623 Whitsett Avenue, Los Angeles3 beds, 1 full bathHome size: 1,242 sq ftLot size: 6,881 sq ftYear built: 1926Parking spots: 2Days on market: 4
- $229,000 : 7111 LA TIJERA, Los Angeles1 bed, 1.0 bathsHome size: 873 sq ftYear built: 1991Parking spots: 1Days on market: 4
- $276,500 : 1132 N ALEXANDRIA AVE, Los Angeles2 beds, 2 full bathsHome size: 1,452 sq ftLot size: 6,400 sq ftYear built: 1909Parking spots: 3Days on market: 4
- $475,000 : 1887 Greenfield Avenue #103, Los Angeles2 beds, 2 full bathsHome size: 1,366 sq ftLot size: 33,019 sq ftYear built: 1974Parking spots: 2Days on market: 4
- $609,000 : 10465 EASTBORNE AVE, Los Angeles2 beds, 3.0 bathsHome size: 1,898 sq ftYear built: 1986Parking spots: 2Days on market: 4
- $159,900 : 837 W 108TH ST, Los Angeles3 beds, 2.0 bathsHome size: 1,291 sq ftLot size: 4,800 sq ftYear built: 1926Days on market: 5
- $174,295 : 920 HERBERT AVE, Los Angeles2 beds, 1.0 bathsHome size: 1,056 sq ftLot size: 4,400 sq ftYear built: 1930Days on market: 5
- $357,500 : 3390 LA CLEDE AVE, Los Angeles1 bed, 1.0 bathsHome size: 842 sq ftLot size: 5,400 sq ftYear built: 1921Parking spots: 2Days on market: 5
- $499,900 : 7613 De Longpre Avenue, Los Angeles3 beds, 1 full bathHome size: 1,292 sq ftLot size: 4,236 sq ftYear built: 1921Parking spots: 1Days on market: 5
- $98,000 : 3817 TRINITY ST, Los Angeles3 beds, 1 full bathHome size: 960 sq ftLot size: 5,800 sq ftYear built: 1969Parking spots: 2Days on market: 6
- $136,000 : 5848 Bowcroft Street #3, Los Angeles2 beds, 2 full bathsHome size: 867 sq ftLot size: 2.22 acYear built: 1949Parking spots: 1Days on market: 6
- $152,900 : 1416 W 52ND ST, Los Angeles2 beds, 1.0 bathsHome size: 900 sq ftLot size: 5,418 sq ftYear built: 1921Days on market: 6
- $179,900 : 414 E 90TH ST, Los Angeles2 beds, 1.0 bathsHome size: 1,026 sq ftLot size: 5,320 sq ftYear built: 1926Days on market: 6
Listing information deemed reliable but not guaranteed. Read full disclaimer.
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