Foreclosure For Buyers
In today’s economy, more and more individuals and families are faced with the threat of foreclosure. As upsetting as this thought is, today’s market provides buyers with opportunities to purchase foreclosed real estate property at amazing prices.
At Beckman Feller & Chang, we provide legal support to individuals looking to buy real estate. For more information about buying foreclosed property, contact our law office in San Francisco.
Buying Foreclosed Property.
The process of buying foreclosed property is more complex than a regular real estate transaction. There are certain risks associated with buying real estate that has been foreclosed, including:
- Paying cash – A buyer of foreclosed property is expected to pay for the property with cash or cashier’s check.
- Paying immediately – The buyer is expected to pay for the property the day of the trustee sale.
- Buying without seeing – In most cases, the buyer does not have a chance to inspect or even see the property before purchasing it.
Despite the risks, consumers can find amazing deals in foreclosed property. The key is having solid legal advice behind every decision. By researching, learning about the foreclosure process, and consulting a real estate lawyer, buyers are better equipped to make solid decisions about buying REO (real estate owned or bank-owned) properties.
How We Can Help.
Buying real estate is a complicated, document-driven process – especially when the property is sold through the foreclosure process. Our real estate attorneys are experienced helping buyers navigate the process of buying foreclosed property. We can help you with the following matters:
- California real estate and foreclosure laws
- Price negotiation
- Purchase agreements
- Real estate closings
- Title agreements
- Real estate owned properties (REO)
- Broker disputes
- Mortgage fraud