Abandoned House
Hello every...I am a newbie from southern CA. I have been trying to learn about the pre-foreclosures for both personal and business reasons. Well while driving day the street the other day I came across an abandoned home. When I took a closer, the home had a red and yellow flyer stating the property was inhabitable, had been searched by the police and they specifically name the former home owner as having no possession nor authorization of the property. My question is...What happened? Does the city now own it? Will it be auctioned or what?
Hello,
Did you locate this home in Simi? I might try and get some comps, talk to a realtor in the area, and determine a price that you can profit from. You will have to do some work to find out who is owner is. I do not have any experience with this so maybe someone else will try and post some useful advice.
Take care,
Andy Gibbs
[addsig]
Just found out a NOD was filed on the proerty...Is this good or bad? How can I find out if there are any zoning violations by the city/county?
Check w/ code enforement which is this is downtown in City hall. They may have a valley field office.
Does anyone have a letter I can send out regarding my situation with obtaining this property or contacting the current home owner.
Two ideas....
Contact the Register of Deeds in the county
OR
Have a title company pull title on the proprty to show who owns it and what liens, if any, are on it.
I already have that information. I was able to talk to the city inspector to find out about the condition of the structure and any zoning violation. I am ready to contact the owner, but not sure what to say so I need help with my first contact letter.
If the Notice of Default has been started, then you are out of luck. A few years ago California changed the foreclosure law. Now you have to give the owner almost full price, so you will not get any bargain. Otherwise the owner can come back and sue you for real and imaginary damages. See a Real Estate Attorney before you get in deep trouble. You will have better luck now going to the Trustee Sale. Who was this attorney working for anyway?
the current owner and title holder. There were 2 owners but something happened and one person lost all rights to the property. So the Lawyer is for then current that has full control. The lawyer was actually trying to get me to make an offer right then and there. Where can I find more info about this law?
HEY WHAT HAPPENED TO THE POST FROM ALLCASH? DID NOT HAVE TIME TO GET THE INFO[ Edited by kd93063 on Date 04/20/2005 ]
thanks for clarifying. it is sad to note that any offer here to help is construed as a for-profit activity. i was merely trying to help others as i have been helped.
had i left out the sentence about "contact me..if you want to talk about it", would it have been acceptable?
i would not have wasted time posting had i known the post would be deleted.
[ Edited by AllCash4Homes on Date 04/20/2005 ]
The earlier statement about laws changing when homeowners are in Default, and having to pay close to full price, is not accurate.
The courts have passed laws that are looking to prevent "unconscionable advantage".
Call or visit the owners immediately & ask them what are there plans for the property & see if you can help.
The most important thing is to listen how you can help solve their problem.
AllCash4Homes,
The problem is that believe it or not, everyone is not as good hearted with good intentions as you and I. If you knew of some of the things that have happened to new investors who are too eager to get that first deal and are willing to jump on every latest and greatest "opportunity" that comes along, maybe you would understand why the moderators are so quick to crack the whip on anything that looks suspicious.
Again, the rules are in place for the protection of the members, including you. The moderators do not have to be moderators in order to sell their product. They do it to try to help out and make the site better by keeping it clean and running the way Joel wants it to operate. We are not here just to be the bad guys. Many of us have networked and developed relationships that would not have existed if it were not for this site, it just has to be done in the proper fashion.
Thank you for understanding and for getting on the same page. Good luck and good investing.
Larry
In my opinion you are vunerable if you assign a deal to someone else before you close escrow and take title in your own name. You open yourself up to being charged with violation of §1695—or...negotiating the terms of a transaction on behalf of another party without a real estate license.