July 12, 2024

Thinking of buying a San Diego foreclosed home?

#1. Use a Realtor.

#2. Inspect the home prior to placing an offer.

#3. Condition your offer on a complete physical inspection.

#4. If the seller is not providing a termite clearance, either insist on one or condition your offer on your approval of a California  licensed pest control inspector.

Though this video shows obvious physical damage, there can be other hidden damage that only a competent physical inspector can detect. Personally, I would never write an offer to purchase any San Diego home if it was not contingent of my approval of the physical inspection report.

Banks know nothing about the vast majority of homes they sell through foreclosure. AS IS means just that! This is where the advice of an experienced San Diego real estate professional can prove invaluable!



San Diego real estate lawyers

3 thoughts on “4 Keys to Buying a San Diego Bank Foreclosed Home

  1. Realtors should not be giving ANY mortgage advice, appraisal advice, legal advice, environmental advice, construction advice, engineering advice, plumbing, electrical, Etc. Etc. Etc.
    We are licensed ONLY to help connect buyers and sellers of real property. If a lawyer gives our clients bad legal advice, the lawyer is at fault. If an appraiser overestimates the value of a house, the appraiser is at fault. If a plumber doesn’t fix a leaky faucet properly, the plumber is at fault………and last but not least
    If a lender puts a buyer in an inappropriate loan product or does not disclose to that buyer the risks of that product, the LENDER is at fault.
    And in many cases:
    The BUYER must share some responsibility!

    Sacramento Lawyers

  2. The issue at the core of the recovery is how long it will take to get the number of qualified buyers back. We have lost many homebuyers. All the people in foreclosure can’t buy for at least 3 years because of bank guidelines. Then they will have to save the money too. Plus we have taken some investors out of the market. At what point will new home buyers equal the old foreclosed people is the answer to when the market will come back. My guess is 3 to 5 years.

    San Diego real estate

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