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Foreclosures Basics
Buying from the Owner
Buyer REO's Raising Cash
Buying at the Trustee Sale



 
 

An Excellent Example of buying the 2nd at the Trustee's Sale....

3BR/2BA Home at 2530 Sidon Ave. in La Habra....


Value:  $358,000.00  Est Bid:  $25,434.00 (on 2nd TD, with a senior 1st TD of $200,000.00)


Opening Bid:  $23,954.15  Sold for... $30,100.00  (plus the $200 1st TD = $230,100.00 net purchase price)


This buyer got over $120,000.00 in instant equity at the sale. 


Some folks feel that only a first TD is worth bidding at auction.


That is not always true.  As in this case.


 


 


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