San Diego and Chula Vista CA Homes for Sale
Realty Executives Dillon
2240 Otay Lakes Rd 306
Chula Vista, CA 91915

 

How to buy a foreclosure
Many buyers, especially first-timers, hope to purchase a foreclosed property at a bargain price.  While purchasing a foreclosed home can be a wise choice for some buyers, it is important that buyers understand the differences in buying at different stages of foreclosure and be prepared to take on the challenges typically associated with each.

 

MAKING SENSE OF THE STORY FOR CONSUMERS

  • There are three basic stages of foreclosure in California: Pre-foreclosure, trustee’s sale, and repossession, often called an REO or real estate owned by the bank.

  • Pre-foreclosure homes are in the foreclosure process, but have not yet been auctioned.  Owners of pre-foreclosed homes often try to sell the properties because they are “underwater,” meaning they owe more on the mortgage than the home currently is worth.  Many homeowners attempt to sell via short sale, where the lender must agree to accept less than the amount owed on the mortgage.  Buying at this stage of foreclosure often is a complicated and slow process. However, buyers of pre-foreclosed properties often are given the opportunity to inspect the home prior to purchasing, whereas this is not always the case when buying at other stages of foreclosures.

  • The second basic stage of foreclosure is the public auction at a trustee’s or foreclosure sale.  Homes in this stage often are well priced, but also come with challenges to buy.  These homes may not be available for inspection and buyers may later discover the property needs numerous repairs.  As a result, many of the homes at auction are purchased by investors and contractors who have experience working with homes needing numerous repairs, or taken back as REO by the foreclosing lenders.

  • If a home does not sell to a third party at the trustee’s auction, the bank takes the property--the final stage of the foreclosure process. Although homes in this stage typically do not offer buyers the best prices, buyers generally can perform a thorough inspection of the property prior to closing.

 Servicing the entire San Diego County   

These days, the realities of a complex and ever-changing housing market are all too apparent. That’s why we’re here. We’re Chula Vista Dream Homes.

With over 10 years experience handling VA loans, Foreclosures, Short Sales as well as working closely with first-time home buyers and investors, we understand how to put the subtleties and finer points of buying or selling a home to work for you. The result? We transform a potentially grueling – and even scary – process into an exciting, worry-free experience.

To learn more about how we can help you today – and also provide you access to much-needed information about your home’s value, up-to-date local market pricing, schools, area attractions and much more, please contact us. 

 

Thank you

Gregory & Diana  
 
Chula Vista,Coronado ,Del Mar,El Cajon ,Encinitas (Cardiff-by-the-Sea, Leucadia, Olivenhain) Escondido ,Imperial Beach ,La Mesa ,Lemon Grove
National City ,Oceanside (San Luis Rey) Poway ,San Diego ,San Marcos
Santee ,Solana Beach ,Vista ,4S Ranch ,Agua Caliente Springs ,Alpine
Barrett ,Blossom Valley ,Bonita ,Bonsall ,Borrego Springs ,Bostonia
Boulevard ,Calexico Lodge ,Camp Pendleton North ,Camp Pendleton South
Campo ,Canebrake ,Casa de Oro-Mount Helix ,Crest ,Cuyamaca ,Dehesa
Del Dios ,De Luz ,Descanso , Dulzura ,Eucalyptus Hills ,Fairbanks Ranch
Fallbrook ,Fernbrook ,Flinn Springs ,Granite Hills ,Guatay ,Harbison Canyon
Hidden Meadows ,Jacumba ,Jamul ,Julian ,La Presa ,Lake Morena
Lake San Marcos ,Lakeside ,Lincoln Acres ,Live Oak Springs,Manzanita , 
 Mount Laguna ,Pine Hills ,Pine Valley ,Potrero ,Pueblo Siding,Rainbow
Ramona ,Ranchita ,Rancho San Diego ,Rancho Santa Fe ,Rincon ,
San Diego Country Estates ,San Elijo Hills ,Santa Ysabel ,Shelter Valley ,Spring Valley ,Tecate ,Tierra del Sol ,
Valley Center ,Vallecitos ,Warner Springs
Winter Gardens
 

 

San Diego's " Buyers" Agents specializing in first time home buyers!  

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Diana Villarreal
  • Diana Villarreal

  • DRE Lic # 01375536
  • 619-757-6125
  • Email Us
  • Gregory Villarreal

  • DRE Lic # 01424573
  • 619-254-1504
  • Email Us