Santa Rosa is a city in Northern California’s Wine Country. It provides many opportunities for real estate buyers or aspiring home owners to purchase foreclosed properties. Under California law, lenders can foreclose when a home owner fails to maintain the required mortgage payments. The lenders must first post foreclosure notices in the Santa Rosa area. Prospective buyers can then participate in public auctions to purchase Santa Rosa foreclosures.
Use Sonoma County foreclosure listings to find Santa Rosa foreclosed properties. In the state of California, lenders must post a foreclosure notice in the same county with a foreclosure they intend to sell at auction. As such, notices for Santa Rosa foreclosure sales will be posted in a public place in Sonoma County. Contact the Sonoma County Recorder’s Office to find foreclosure notices for Santa Rosa and the rest of the county.
It may be worth it for you to find these Santa Rosa foreclosure listings online. Sites like RealtyTrac.com provide the service of listing foreclosed properties online. You can try a free trial to see if you think it’s worth it. However, if you want to make sure you find all Santa Rosa foreclosures, then you should do your own leg work by contacting the recording office to find the notices.
Look through the foreclosure listings to find foreclosed homes in Santa Rosa that meet your requirements. In addition to details — such as the amount due — on the foreclosures, these listings will also tell you when and where to show up to bid on the foreclosed properties. Make a list consisting of the property addresses, amount due, time and date of the foreclosure sale and place of the foreclosure sale.
Finish up selecting your desired properties by going to the address of each foreclosure. When you visit a Santa Rosa property, you want to see the outside condition of the property and surroundings to make sure there are no obvious red flags. You really need to also approximate the fair market value of each foreclosed property so you can come up with a maximum bid that might allow you to get a property at a reasonable price.
Prepare the money for bidding on the foreclosed properties at Santa Rosa auctions. One state law that applies here is that you can pay either in cash or in certified funds (such as a bank-certified or cashier’s check). But you will need to refer to each listing to get the other payment terms, such as the percentage due on the auction date and the deadline for the balance of the winning bid.
Show up at the auctions and bid on your chosen foreclosures. When you place the highest bid on a Santa Rosa home or land, you are required to buy it. Otherwise, you can be sued. Do not bid unless you have the money and are serious about buying the property.
Ask the lender’s trustee for a California property deed. It is vital to get a deed to show that you bought a Santa Rosa foreclosure. In this case, you must file the deed with the Sonoma County Recorder’s Office to preserve your ownership rights in Santa Rosa homes or land.
Foreclosure.com Page on California Foreclosures