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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Buying from an owner in default... Posted by Ward-CA- on March 02, 2004 at 10:34 AM In Reply to: NOD posted by Mike on March 02, 2004 at 0:56 AM : If someone had an NOD filed against that amounts to 6 months of mortgage payments, is it reasonable to approach them to make a unsolicted offer to buy the property? Suggestion on execution? : I am a very experience real estate buyer but new to foreclosures. ==================== Mike, If you're located in CA and the owner is in default on their residence, and you don't intend moving into the residence then you have to comply with CA Civil Code Section 1695. You can read it by clicking on our Foreclosure Codes link. The forms you'd need (EPA, Notice of Cancellation, Addendum, etc.) are found at our Fillable Forms link. So, with a good understanding of §1695 and the necessary forms you'll next need to learn how to put it all together and execute. At that juncture you will need a good book or some live instruction. In So. CA you can take such a class from us (see our "Hands-On" training link) or from Bruce Norris in Riverside, CA. If you're located in some other state other than CA then the procedure outlined above won't apply. All you'll need to have is a deed and a workable pre-sale approach with the property owner. Hope this helps. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : If someone had an NOD filed against that amounts to 6 months of mortgage payments, is it reasonable to approach them to make a unsolicted offer to buy the property? Suggestion on execution? : : I am a very experience real estate buyer but new to foreclosures. : ==================== : Mike, : If you're located in CA and the owner is in default on their residence, and you don't intend moving into the residence then you have to comply with CA Civil Code Section 1695. You can read it by clicking on our Foreclosure Codes link. : The forms you'd need (EPA, Notice of Cancellation, Addendum, etc.) are found at our Fillable Forms link. : So, with a good understanding of §1695 and the necessary forms you'll next need to learn how to put it all together and execute. At that juncture you will need a good book or some live instruction. In So. CA you can take such a class from : us (see our "Hands-On" training link) or from Bruce Norris in Riverside, CA. : If you're located in some other state other than CA then the procedure outlined above won't apply. All you'll need to have is a deed and a workable pre-sale approach with the property owner. : : 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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