How to Buy Phillips Ranch Foreclosure Homes at a Trustee's Sale

By
Real Estate Agent with New Century Realty

How to Buy Phillips Ranch Foreclosure Homes at a Trustee's Sale


Many homes that are being foreclosed upon will be offered to the
public at a Trustee's Sale, sometimes referred to as a foreclosure
auction.  If you are looking for a good deal, this could be the place
to go.  There are many homes in the Phillips Ranch Real Estate market that are going through foreclosure, and they will offered for sale at the
auction.


First, you must find a list of Phillips Ranch homes that will be offered at
Trustee's Sales..  You can do this by looking in the newspaper for advertisements of these auctions in the classifieds section.  These ads can be incomplete, or they may be split among several publications.  An easier way is to subscribe to a foreclosure tracking service, like Foreclosure Radar, or County Records Research.  There are many such services that keep track of not only homes going to auction, but in all stages of the foreclosure process.


You should check out as much as possible about the home before
you decide to buy it.  A title company can tell you about back taxes that might be owed, or any other liens that will not be extinguished by the Trustee's Sale.  You should at least drive by the Phillips Ranch home to see if there are any obvious signs of needed repairs, and if possible, find a way to inspect it.  All sales at foreclosure auctions are "AS-IS" so be sure to leave room in your purchase price for unknown problems.

When you have found a Phillips Ranch home or several Phillips Ranch homes that you would like to buy,  go to the auction location on the date specified.  The auction is actually held on the front steps of the county
courthouse.  You will be bidding against other investors, and the highest bidder will own the house that day.  If it is noisy or windy, be sure to stand as close to the auctioneer as possible, so you hear everything that is going on.


One more thing:  Bring cash or a cashier's check, because financing
is not allowed at Trustee's Sales.  You will have to pay as soon as you
are declared the winning bidder.


For more information about buying Phillips Ranch Foreclosures, or for
current homes for sale, property values, short sales, and more, please
visit the Phillips Ranch Real Estate information website.  And you can always contact me, Brett Ehart, with any of your real estate or mortgage questions.  Call (909) 868-1955 or email me at Brett@bkEstates.com

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