Buying A Foreclosure In California «360p»

If the owner cannot pay, the property is sold at a public auction, usually at the county courthouse. These sales are typically cash-only and have no inspection period.

The owner has defaulted but still owns the property. You negotiate directly with the owner, though the lender must approve any "short sale" where the price is less than the debt. buying a foreclosure in california

If the property doesn't sell at auction, the bank takes ownership. These "Real Estate Owned" (REO) properties are often listed on the MLS and allow for traditional financing and inspections. 2. Secure Financing Guide to foreclosures | California Courts If the owner cannot pay, the property is