Buying A Foreclosure — In California

The owner has defaulted but still owns the property. You negotiate directly with the owner, though the lender must approve any "short sale" where the price is less than the debt.

Buying a foreclosure in California can be a lucrative way to enter the housing market, but it requires a solid understanding of the state's specific nonjudicial foreclosure process. In California, foreclosures typically move through three distinct stages, each offering different opportunities and risks for buyers. 1. Identify the Stage of Foreclosure buying a foreclosure in california

If the owner cannot pay, the property is sold at a public auction, usually at the county courthouse. These sales are typically cash-only and have no inspection period. The owner has defaulted but still owns the property