Along with Riverside and Ontario, San Bernardino makes up one of the largest metropolitan areas in California and the United States. When a San Bernardino home owner goes into default on his home mortgage loans, a California lender may foreclose on the property and auction it off at public auction. Buyers of real estate can bid to purchase these San Bernardino foreclosures. They just need to know how to find these foreclosed homes in San Bernardino so they can make preparations for the public auction.
Use San Bernardino foreclosure notices to find properties up for auction throughout the city and county. As of late 2010, you should contact the San Bernardino Auditor-Controller/Recorder/Treasurer/Tax Collector to look for local foreclosure listings. The website is located at Sbcounty.gov/acr/. In California, lenders must post notice of the intent to foreclose in the recording office. Tell the recorder’s office that you are looking for public foreclosure notices for San Bernardino County. Lenders must also post notices in public places around Sen Bernardino County for these foreclosure sales.
You also have the option of finding San Bernardino foreclosures by using online databases. Several sites offer this service for free or a monthly fee. Sites like Foreclosure.com provide listings all across the country for a fee. You can try a free trial if you want to test the quality of the service. Some other sites like FreeForeclosureDatabase.com provide some listings for free.
When you find the San Bernardino foreclosure notices, you should then look through them to find property addresses, amounts due on the properties, and the time and place of their public auctions. Make a list of properties to visit. You always should visit a foreclosed home in San Bernardino before bidding on it just to make sure there is nothing unusual that would cause you to hesitate in bidding on the foreclosure.
Calculate a maximum bid for each home or land that you want to bid on at the auctions. This bid should be lower than the fair market value of the property. It is far from easy in a fluctuating market like the housing market to determine fair market value. But you might receive information and assistance from neighbors of the foreclosure or San Bernardino real estate brokers or appraisers.
Prepare enough cash or certified funds to pay off any San Bernardino properties that you win at the public sales. Refer to each foreclosure listing to determine the payment terms and prepare according to the listed schedule.
Bid on properties at the Sen Bernardino foreclosure auctions. Pay off the properties so you can get a California deed from the lender’s trustee.
Take the deed and go to the San Bernardino recorder’s office (see website above for details). File the deed with that office as soon as possible to protect your rights in each San Bernardino foreclosure that you purchase.
Foreclosure.com Page on California Foreclosures