All Forum Posts by: Brianna Salas

@Brett Goldsmith Thanks so much for the feedback! I figure this is their last-ditch effort and are trying to just gain more time in the home.

This is the story,

We purchased a property at a trustee sale back in November and reached out to the previous owner offering cash for keys; they declined our offer and we began the eviction process. The judge has already signed off on our eviction however the courts lack of efficiency allowed for the previous homeowner to file a demurer which we now have a pending court date for. We were assuming the judge would dismiss it and we would proceed with our eviction. Well today we received a lawsuit from the previous homeowner suing the lender for not following the proper foreclosure process and that the trustee deed sale should be void.

My thoughts are the decision for the eviction was already established before the lawsuit had already taken place but knowing the court system I’m sure it won’t matter since now the validity of the trustee sale is in question.

I’m just looking for any feedback or thoughts on this situation. Have you or anyone you’ve known gone through this scenario with a trustee sale?

Thanks in advance for your time!

Thanks Daniel and Lee! I appreciate the feedback. I will look into implementing some of those strategies. David I will email you with some info.

Advice**

Hey BP Community,

I need help! My father and I stared real estate investing in Southern Ca (San Bernardino and Riverside County)as it’s been something we have always wanted to do and now that he’s retired we’ve got time. We got our first property at a trustee auction in Palm Desert, CA. It wasn’t the smoothest deal for us but we got it done and we made some profit.

We’ve been going to auctions still and the process just sucks. We do all our due diligence and then all our potential properties end up getting postponed. We have a good amount of cash and are looking for some quicker methods to get properties, either to flip or wholesale.

Any recommendations or advice is much appreciated. Or if you have deals in our area let me know.

@Angelo C. Is there any recourse I could take if my appraiser is including those low income comps?

Patrick Britton The house was just fully rehabbed, its in a quiet neighborhood built in 2007 and on a cup-de-sac. It's off an commercial area which is a bit odd but we're still surprised it hasn't gotten an offer yet. We have gotten some feedback from realtors that the price is fair. It is in Palm Desert, Ca so maybe it's a bad time of year since it tends to be a retirement/vacation location. Just not quite sure.

Angelo C. Thank you!!

Patrick Britton We did do a market analysis to come up with our Sales price. The property has been on the market for 45 days with no movement so we wanted to see if we were off our mark.

Question for appraisers or anyone who has knowledge on this type of situation: We purchased a home at a trustee sale and learned after there was a Housing Authority Restriction. It essentially stated that the home was to have a restricted sales price and that the property needed to be sold to low/moderate income buyers. Turned out that in the legal agreement once the house goes through a foreclosure process that the restriction is then terminate. Great news for us, we got the restriction lifted off the title and we can now sell at market value to whom ever. So now we have it listed and we wanted to get an appraisal to determine the market value, my question is: are restricted properties comps allowed to be factored into my market value? Any advice is greatly appreciated!