Cashiers Foreclosures
How do I bid on a home at auction in riverside county ca?
I basically wanna know how do I find out when the property I’m looking at on pre foreclosure is going to be auctioned and how does the lending work? I know you have to put a cashiers check to hold the property but can I use my own lender etc
So if it a nonpayment foreclosure does the bank start the bid price? And how long will they give me to come up with finacing
Depends on who has done the foreclosure and what the auction rules are. If the house is foreclosed due to mortgage non-payment, call the bank holding the note and find out what the terms of the auction are and the date of the auction.
If the foreclosure is a tax foreclosure, call the tax assessor’s office or the Sheriff’s office (sheriff’s auction). If it is a tax foreclosure, you can almost forget using a lender as you will most likely need to come up with the full bid amount in cash within 48 hours – not nearly enough time to get the property appraised and a mortgage closed.
Cashiers Foreclosures, FANNIE Owned Home for Sale – 25 Cliff Rdg, 28717
