Redondo Beach Foreclosures Tip #4
Redondo Beach Foreclosures
How to Buy Redondo Beach Foreclosures Tip 4
Educate Yourself About the Process of purchasing Redondo Beach Foreclosures
Before you begin your search for Redondo Beach foreclosures, you will want to educate yourself about the stages of the foreclosure process.
Based on that, you will want to determine which part of the foreclosure process you are most comfortable working with.
There are three stages of foreclosure in California:
Notice of Default
Notice of Trustee Sale
Auction/Bank Owned
The first stage of Redondo Beach foreclosures is the Notice of Default stage, where the homeowner is severely behind on their mortgage payments.
The second stage is the Notice of Trustee sale, which is when the lender has notified the homeowner they are putting the property up for sale at auction.
You may also look to purchase Redondo Beach foreclosures at auction but generally, you will need all cash.
Finally, there is the REO stage. This is when Redondo Beach foreclosures are owned by the bank.
There are positive and negative aspects of each stage of the foreclosure process. You will want to educate yourself on each stage of the process.
In this manner you can decide which stage is the best for your purchase of Redondo Beach foreclosures.
I am Trace Keasler, real estate broker, serving the beach cities since 1989.
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