kinwashi.org

Abused homes can be a boon — or boondoggle — for a buyer. Calabasas foreclosures in poor condition might fetch bargain prices, but repairs can boost the cost again. The first rule of real estate, “location, location, location,” applies in these situations. If there is trash in every room of the house, but the Calabasas foreclosure is in a good area with high property resale values, hold your nose, walk through the entire house and consider making a low offer.

Reading assignments

When a lender decides to foreclose on a property, a notice of default or a lis pendens (Latin for “lawsuit pending”) is filed, depending on the state. This document is a public record, and for buyers, it’s the first step in locating a property in foreclosure. A buyer looking for Calabasas foreclosures also can purchase magazines and newsletters that list properties in default. There are web-sites that also will list Calabasas foreclosure properties.