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How do you get into buying foreclosure homes or homes at auction in city Long Beach or State of California? 2?

2. How much money do i have to have for a down payment for home?

3. where are the best areas to buy a homes right now?

4. Some peoples told me is hot to buy foreclosure homes because it take long time for the bank to relief it? It that true?

2 Responses to “How do you get into buying foreclosure homes or homes at auction in city Long Beach or State of California? 2?”

  • Gaytheist Buddha:

    Lots of inexpensive homes in Wrigley and Bixby Knolls.

    For an auction, you need all cash or an approved loan ready to go. They won’t wait for mortgage approval process.

    See a qualified real estate agent to help you find a home.

  • loanmasterone:

    To find out about possible foreclosures in the Long Beach area you might google foreclosure auctions followed by Long Beach or Los Angeles.

    You should call each auction that you might find listed to see where they hold their auctions as well as how often and how you can get on their mailing or email list of auctions they schedule.

    Some auctions require that you have a buyer’s agent to represent them. Then there are some that don’t have this requirement.

    The area to purchase these houses depend on your intent for the property. Do you intend to reside in them or do you plan to use them as rentals.

    For investment properties you might consider the Wrigley area as well as the North Long Beach areas.

    In the money department most require some type of minimum to get a bid card. Some allow a certain amount of time to apply for and get your loan. Failure on your part to finalize mortgage loan you forfeit any possible down payment.

    Then there are others that require in addition to the minimum of getting your bid card will want you to have a pre-approval from a local bank.

    If a bank is utilizing an auction to sell off assets then they are available immediately as soon as you complete the sale with the necessary funds to close the escrow.

    In bidding on a house each auction have their own rules, therefore make sure when you see an auction that you want to attend and bid on you get the entire requirements so you would be successful with any bidding and expectations after your bid has been accepted.

    The one thing you want to do is get a list of properties available for auction. Then you would want to do your home work, by going by each property, getting the proper compts, if there are any repairs. Talk to the neighbors find out as much as you can about the property.

    Keep a list of each property you would want to bid on to include the maximum you would bid on each property based on any repairs or things you might find.

    Please don’t get caught up in the hype of bidding. Remember your goals and limitations, remember your maximum you would want to bid.

    I hope this has been of some benefit to you, good luck.

    “FIGHT ON”

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