New Service Helps Real Estate Investors Buy Homes on the Courthouse
Online, November 11, 2009 (Newswire.com) - Orange County, CA - November 2, 2009 - Today some of real estate buzzwords are bank owned, short sales and auction sales. At a time when mortgage defaults and foreclosures have hit record numbers, many people are seeking to take advantage of this fact and cash in by buying properties at the courthouse auction sales.
Christine Donovan of OC Courthouse Auction Sales stated, "We created this auction sale service because we understanding that many people who are interested in buying properties from the banks don't know how to do this.
With our system, people are educated and assisted through the process of buying auction sale properties on the courthouse steps.
We assist our clients by walking them through the entire process of a trustee sale:
1. Identifying properties of interest;
2. Assisting in the preparation to purchase properties of interest;
3. Getting clients ready to bid on the property;
4. Having a team to rehab the properties (if necessary);
5. Resale of the properties at retail value.
People who are considering taking advantage of the current market to buy properties at trustee sales need to make sure they are well prepared before they attempt to buy a property. They need to make sure they understand the process and do their homework on each individual property listed for sale through the county auction.
In California, many lenders choose to do a non-judicial foreclosure, rather than having to file a lawsuit and go through a judicial foreclosure. In a non-judicial foreclosure,
1. The first step for the lender is to file a Notice of Default.
2. 90 days after the Notice of Default is recorded, the lender may file a Notice of Trustee Sale, and then may sell the property 21 days after the Notice of Trustee Sale.
3. At this point, the home is put up for auction at trustee sale.
About Christine Donovan - An attorney and real estate broker with a background in real estate financing. Christine spends the majority of her time at ground zero in the current Orange County, California real estate market, assisting clients through the devastation of the real estate market to find opportunities for investors and to assist those in need to get back on their feet.
Contact:
Christine Donovan
P - 714-319-9751
F - 800-610-7253
2920 Newport Blvd., Ste. B
Newport Beach, CA 92663
info@OCCourthouseAuctionSales.com
www.OCCourthouseAuctionSales.com