PDA

View Full Version : Where do you get info on foreclosures auctions



2Driver
04-30-2007, 06:25 PM
Starting up a new project to possibly find a foreclosure deal in Havi or along the river.
I have seen a bunch of "pay websites" to get foreclosure listings but is there any place better to get the inside scoop on homes going to auction???
A 3 bedroom 2 bath house across the street from our friends (on Buena Vista) went to auction for back taxes and sold for 128K! This has me inspired to find a deal.

Boatcop
04-30-2007, 06:35 PM
Check out the Classified sections of "official" County Newspapers. Here in Parker it's the Pioneer, maybe the Havasu Herald or a Kingman paper for Mohave County.
We don't really have "foreclosures" here in AZ. When you get a mortgage you actually give a Trust Deed to the finance company. When it's defaulted, the Mortgage company holds a "Trustee's Sale", which by law has to be published in the official County Newspapers for a certain period of time, I think 45 days. The Trustee Sale notice has the auction date and location, usually "On the Steps of the County Courthouse". It also has the legal description and common address of the property.
At any time before that auction is final, including during it, the trustor (person who defaulted) can pay past payments and fees, and cancel the sale.

2Driver
04-30-2007, 06:53 PM
Thanks Alan. I looked in the papers online and didnt see much. Yahoo real estate says there are 227 in default and list them but you have to "join" to get details and I am just not sure about its accuracy.
http://realestate.yahoo.com/Arizona/Lake_Havasu_City;_ylt=AjvAjEBgE1DMNFqJIICWH1LnMrQs
Any insiders here, sources?

Summer LuvN
04-30-2007, 06:57 PM
A title company is the best place to get the list. You have to shmooz them or if you know a loan officer or Realtor they can get the list for you....

totenhosen
05-01-2007, 04:31 PM
County courthouse, local newspapers, Bank REO dept's. All the info is public and you should not have to pay for it.

Mandelon
05-01-2007, 08:12 PM
Yep, hookup with a title insurance rep, or an agent who has a good one. They can get you lists of Notices of Defaults and foreclosure sales as well.
The banks usually will end up with the property for their loan amount. Don't think you are going to find houses for 50 cents on the dollar at these auctions.
The disposition auctions like the one coming up in so cal that is being advertised like crazy still has minimum reserve bids, so there's no bargains there either....
Try to find a seller or owner in trouble and get them before it goes too far into foreclosure. Buy it from them direct before the bank takes it back.

al cole'holic
05-01-2007, 10:55 PM
...come to my desk in Simi Valley, there's about 1000 pages of em :D
Good opportunity for a recent good move...2 weeks ago we put a client with cash into an awesome gated community property for $875k, it will be back on the market this weekend hopefully for $1.2M-$1.3M range. They dropped roughly $100k in upgrading a few things as well :)