However IMO non fha almost always beats fha when property is not in great shape, and is more likely to be accepted by the SELLER.

California Foreclosure ProcedureJudicial Foreclosure Available: Yes Non-judicial Foreclosure Available: Yes Non-judicial Sale Typically, a title insurance company is named as the trustee to arrange the sale of the real estate.

A non-performing loan or a REO is a liability.

That's the homework that you should be doing.On the other side of the spectrum there are timid, or non-professional agents who haven't built the rapport with their clients to price the property within reasonable market values.When you buy a home for your own residence or for your own investment purposes, you have to have a goal, written down, clear and achievable.

Half of that cost is a Schedule E repair, while the other half is a personal, non-deductible expense.

I'm betting on it and have been stockpiling non-perishable food for about 2 years.

Make sure you get a deposit of about $3000 on average ( non refundable but goes toward the purchase )Tenants should handle all of the repairs.

------UPDATE---------- So after not willing to budge from my price of 62k, the seller called and we "verbally" agreed to 62k.

Every time a politician opens their mouth, they should be required to say, "I am a non-attorney spokesman".

For your problem foreclosures can be done in judicial and non-judicial processes; that is, lenders can foreclose in or out of court.