The Most Dangerous and Most Profitable Way to Buy San Mateo Real Estate

Trustee sales are the most dangerous way to buy San Mateo real estate is potentially the most profitable. Let me explain. There are many ways to buy real estate.

5 Ways to Buy San Mateo Real Estate

You can buy San Mateo Real Estate…

• Directly from the owner – Those are properties offered for sale by the owner. We call those FSBO’s.
  
• Listed in the Multiple Listing Service – the MLS – either directly through the listing agent who represents the seller, or a better way to buy is to be professionally represented by a knowledgeable and experienced buyer’s agent
  
• In foreclosure – Those are properties that have had a Notice of Default Recorded against them. We call those pre-foreclosures or distressed real estate
  
• That’s already been foreclosed upon -Those are properties that the lender has repossessed because the borrower defaulted of his or her loan. We call those REO’s
  
• At the Trustee’s Sale (in some states called Sheriff’s Sales).
  

Without the slightest doubt, buying property at the Trustee’s Sale is the single most dangerous way to buy. And, it’s potentially the most profitable.

What is a Trustee’s Sale?

In layman’s terms, a Trustee’s Sale is a public, open auction of the Trust Deed – that is, the Loan – being foreclosed upon. Why is the lender foreclosing – Because the borrower did not make the payments as agreed upon?

A Few Things You Need to Know About Trustee’s Sales

Here are a few things you need to know about Trustee’s Sales.

1. Trustee’s Sales are ALL CASH – no exceptions. Bring a Certified Cashier’s Check for the exact amount of your bid.
   
2. The winning bidder takes the property subject to all senior liens. All junior liens are wiped out. The person conducting the sale will never divulge the position of the trust deed, only the amount of the opening bid.
   
3. No Inspections – rarely can you peak inside the property so you’ll have to make a very un-informed guess at the fix-up costs necessary to bring the property into livable or saleable condition.
   
4. No Disclosures – Trustee’s sales are exempt from disclosure laws so no representations will be made about defects, deficiencies, neighborhood nuisances or any factor – positive or negative – affecting the value of the property.
   
5. No Warranty – The winning bidder receives a Trustee’s Deed which contains no warranties regarding title, possession, encumbrances or property condition. What you see and don’t see, what you know and don’t know – is what you get. You are buying only the lien position being sold. So, you could be “Queen for a Day.”
   

The bottom line is Trustee’s sales are complex, complicated and considered by most people to be a legal mine field. There is much more to learn and a lot more to know before you bid.

Want to Learn More About Buying Trustee Sales? Attend Our Free Webinar

We will be hosting a free webinar, Trustee Sales – The Most Dangerous and Most Profitable Way to Buy San Mateo Real Estate, on Tuesday November 17th at 6pm.

Topics Discussed

In this non-salesy, education based webinar, we’ll be discussing:

• What is a trustee sale?
  
• Who should consider buying one
  
• What to expect when buying one
  
• The risks associated with buying trustee sales
  

Sign Up Information

To Sign Up for this Webinar, visit our Trustee Sales – The Most Dangerous and Most Profitable Way to Buy San Mateo Real Estate registration page.

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