Laguna Beach Bank Foreclosures
Laguna Beach Bank Foreclosures refers to those properties where the Bank has already taken possession from the owner who could no longer pay the mortgage payments and it's usually free of liens. For many home buyers, buying a Laguna Beach bank owned Foreclosure, is a better idea than trying to purchase it through the short sale process, as it is lengthier and in many cases, with many surprise charges and fees. Also since there's a lot of competition for these type of purchases, experienced representation is ideal to make sure what you are getting is, in fact, a deal.
Search for all available foreclosures currently listed for sale in the MLS in Laguna Beach. If you need more information, a showing or have any questions on any of these homes, please contact us at (949) 888-6788 or contact us via email. Read more about the REO homes in Laguna Beach, or for searching all other homes in Laguna Beach, visit our page for Laguna Beach Real Estate.
Laguna Beach Bank Owned Homes and Foreclosures
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REO Homes in Laguna Beach
REO (Real Estate Owned) homes in Laguna Beach are rare. Because timing is of the essence in these type of transactions, as they are always 'waited for', a good idea is to sign up for our daily email updates on homes of your preference, so we can alert you when a Bank Owned Foreclosure in Laguna Beach becomes available.
When a bank owns the property, it will usually handle any evictions, and may even do some repairs before listing the property for sale. The banks typically remove the tax liens and pay off any HOA dues if existent. When a buyer purchases a REO, the owner receives a title insurance policy and the opportunity to investigate the property. There's a chance that these bank owned properties might not be a great bargain. Do your homework before making an offer. Make sure that the price you pay (if you’re successful) is comparable to other homes in the neighborhood. Consider the costs of renovation, and be careful with over bidding and pay over market value. For the most part , in Orange County when a REO becomes available, there's multiple offers on the home, so the highest and best offer will be submitted by the listing agent to the bank. There's no waiting around like in short sales, as the price has been already approved and in the majority of the cases, is a short escrow. REO's and some standard sales are the best bets for those buyers looking for a quick escrow and to move into the property fast.