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Answers (1)
- Shannon Doyle, "Shannon Doyle"
- Contributions:718
Hello,
Yes, this property is in default. The official notice of default was filed on 5/6/09. The soonest that an auction sale date can be posted is 8/6/09, and the soonest that it could go to the auction sale is 21 days after that. This would be a foreclosure sale at the courthouse steps.
The foreclosure process and final sale are often delayed for a variety of reasons including overwhelmed lenders, homeowners filing for bankruptcy, homeowners working to modify their loans, and a number of other reasons.
In order to buy a home at the courthouse foreclosure, a person must have all cash and be prepared to bid against other interested parties. This is not recommended for amateurs, as there can be a lot of things to know and research in order to protect oneself. There can be unresolved tax issues, or liens in a first position that could wipe out your investment if you don't know all the finer details. You also would not have an opportunity to inspect the property before purchasing it, and there could be all sorts of problems lurking that you would only discover once you owned it. It can be quite a risky endeavor.
If the property goes to the courthouse sale and the lender takes it back, they typically list the home with a local agent. This gives you an opportunity to purchase it through a normal escrow and inspect the property.
My office tracks every single foreclosure in Sonoma County and I would be happy to keep an eye on this particular property for you and provide you with more info about foreclosures in general if you like. Feel free to contact me through email or phone if I can help further. Thanks for your question and have a great day! Shannon Doyle
AgentDoyle.com
Yes, this property is in default. The official notice of default was filed on 5/6/09. The soonest that an auction sale date can be posted is 8/6/09, and the soonest that it could go to the auction sale is 21 days after that. This would be a foreclosure sale at the courthouse steps.
The foreclosure process and final sale are often delayed for a variety of reasons including overwhelmed lenders, homeowners filing for bankruptcy, homeowners working to modify their loans, and a number of other reasons.
In order to buy a home at the courthouse foreclosure, a person must have all cash and be prepared to bid against other interested parties. This is not recommended for amateurs, as there can be a lot of things to know and research in order to protect oneself. There can be unresolved tax issues, or liens in a first position that could wipe out your investment if you don't know all the finer details. You also would not have an opportunity to inspect the property before purchasing it, and there could be all sorts of problems lurking that you would only discover once you owned it. It can be quite a risky endeavor.
If the property goes to the courthouse sale and the lender takes it back, they typically list the home with a local agent. This gives you an opportunity to purchase it through a normal escrow and inspect the property.
My office tracks every single foreclosure in Sonoma County and I would be happy to keep an eye on this particular property for you and provide you with more info about foreclosures in general if you like. Feel free to contact me through email or phone if I can help further. Thanks for your question and have a great day! Shannon Doyle
AgentDoyle.com
Would U please tell me if possible if there is a default in mortgage payments on this home?
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