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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Phase I - The Basics Posted by Ward-CA- on August 21, 2003 at 7:50 AM In Reply to: Money turn-around posted by Vodka-CA on August 21, 2003 at 2:03 AM : Hello All, : Just today I learned about existense of foreclosures, got to the site that advertises Notices of Trustee Sales, and found a house I would like to buy on the auction tomorrow. I don't know anything about all the legal procedures and forms ("Notice of Assignment of Deed of Trust" sounds gibberish to me), I definetly will if I like this area of business. Meanwhile just one quick question....I can have 500K in cash to buy the house (I think it's better than to continue payments on the loan?) (expected sale price 700K), but how soon can I turn money around? Is there any law that requires me to sit on this house for some time before I can sell it? That business would be perfect if can buy-sell within 2 weeks. : Thanks ================= There are oodles and oodles of foreclosures you?ll have a chance to buy. Right now you need to know how it works and where you fit in. So I?d suggest you read up on how foreclosures work here in CA. You can do that by going to the link below and read the Civil Code Section 2924. Then if you?re still interested read Civil Code Section 1695. With at least those two civil codes under your belt come back to this discussion and search the message archives under such keywords as: newbie getting started searching title searching equity bidding, etcetera You can do all of the above preparation in as little as two to three days. Then peruse the Article Archives on this site too for another day and you?ll be done with phase one. Hope this helps. Follow Ups: Re: Phase I - The Basics Vodka-CA 9:31 AM, 08/21/03 (1) Re: Phase I - The Basics nathan 11:15 PM, 09/03/03 (0) Post a Followup: Name : E-Mail : Subject : Comments: : : Hello All, : : Just today I learned about existense of foreclosures, got to the site that advertises Notices of Trustee Sales, and found a house I would like to buy on the auction tomorrow. I don't know anything about all the legal procedures and forms ("Notice of Assignment of Deed of Trust" sounds gibberish to me), I definetly will if I like this area of business. Meanwhile just one quick question....I can have 500K in cash to buy the house (I think it's better than to continue payments on the loan?) (expected sale price 700K), but how soon can I turn money around? Is there any law that requires me to sit on this house for some time before I can sell it? That business would be perfect if can buy-sell within 2 weeks. : : Thanks : ================= : There are oodles and oodles of foreclosures you?ll have a chance to buy. Right now you need to know how it works and where you fit in. : So I?d suggest you read up on how foreclosures work here in CA. You can do that by going to the link below and read the Civil Code Section 2924. Then if you?re still interested read Civil Code Section 1695. : With at least those two civil codes under your belt come back to this discussion and search the message archives under such keywords as: : newbie : getting started : searching : title searching : equity : bidding, etcetera : You can do all of the above preparation in as little as two to three days. Then peruse the Article Archives on this site too for another day and you?ll be done with phase one. : : Hope this helps. Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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