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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] No problems Posted by Ward-CA- on September 14, 2003 at 2:30 PM In Reply to: CA Foreclosure Laws posted by Stuart on September 14, 2003 at 8:57 AM : Hi, : Has anyone had experience in buying houses in foreclosure in California? In reading the CA civil codes it appears that only a licensed real estate agent either for himself/herself or acting for a client can purchase a property in forecloseure if there is equity in the property. The rules also state that the agent must have a bond at least 200% of the property's value. The legal department of the CA DRE states that no one issues these bonds. Any thoughts? : ====================== Stuart, You have to read the code closely. What you state applies if you are not buying for your own account. If your represent someone else the law then works as you state. Follow Ups: Re: No problems Stuart 4:24 PM, 09/14/03 (1) §1695 exemptions. Ward-CA- 10:41 AM, 09/20/03 (0) Post a Followup: Name : E-Mail : Subject : Comments: : : Hi, : : Has anyone had experience in buying houses in foreclosure in California? In reading the CA civil codes it appears that only a licensed real estate agent either for himself/herself or acting for a client can purchase a property in forecloseure if there is equity in the property. The rules also state that the agent must have a bond at least 200% of the property's value. The legal department of the CA DRE states that no one issues these bonds. Any thoughts? : : : ====================== : Stuart, : You have to read the code closely. What you state applies if you are not buying for your own account. If your represent someone else the law then works as you state. 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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