Using a list of property foreclosures in California to find the best deals is a process that includes sifting through many old or useless listings of properties. Finding a good foreclosure website is key to making the most of the listings you find. Look for a website that offers advanced search options to narrow your options quickly and easily.

Break your search down by location or property type when searching a list of California foreclosures. If you know where you want to relocate your business, start your search within that area. Once you’ve removed the foreclosure properties that aren’t in the area, you’ll have less through which to sift. If you’re open to locating in one of several areas, but need a specific property type, keep your area search field open and specify the property type. Remember:

1. Before you start your search, make a good checklist of what you want. Include structure needs, property location and options you would like.

2. Start your search for foreclosed properties in California with either property type or location in mind as a first search option.

3. Contact the seller of pre-foreclosures directly. Consult with a licensed Realtor for help closing a foreclosure deal.

Action Steps
The best contacts and resources to help you get it done

Begin your search for California foreclosure properties online

Find a few different foreclosure websites to use in your search. Look for search options or websites that offer free trial memberships to make sure they list all the foreclosure information you need to narrow down your search. Look for listings that include property values, sales data, loan information, local property comparisons, mapping features, photographs and e-mail notification of future foreclosures.

I recommend: Use search engines at the California Real Estate Center to find foreclosure homes, HUD-owned homes, REO and bank-owned foreclosures in California as well as homes for sale by owners that may be pre-foreclosures. Search by county first when using the RealtyTrac foreclosures search feature. The national website has a large selection of California listings.

Find the options for which you are looking using a California foreclosure listing website

Once you've found a few good websites to use, you'll want to search for the type of California foreclosure property listing you want. Begin your search in a specific area, or search several areas in California to find a specific property type.

I recommend: Get help finding the amenities you need with Harvest Properties. The real estate and investment company has California foreclosed property listings in many cities. Search ForeclosureNet using their county feature. Choose an area, and then browse the listings for the perfect business property.

Make an informed decision about any foreclosure properties in California you are considering

Once you've found a few foreclosure listings that look interesting, you have to move quickly. If the property is a pre-foreclosure, cautiously contact the current owner directly. Some owners may not know the property is on a pre-foreclosure list. If you play your cards right, you may get a great property at an even better price if the owner is looking to sell and pay off the mortgage for which he is defaulting. When properties have already foreclosed, you'll want to contact the bank or Realtor listed as owner to view the property and negotiate a price.

I recommend: Find help purchasing a business property in foreclosure. Hire a trained Realtor you find through the California Association of Realtors, or use the ForeclosureRadar website to gain access to the latest in California real estate foreclosure news and properties.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  Pre-foreclosures are often listed without the owner's knowledge. Since they are in the mortgage default stage right before foreclosure, you'll want to use tact when dealing with owners of California foreclosures. They may be upset or even angry, or they may be really looking to get out of a mortgage they can't afford. If they are, this can be a great advantage to a buyer.

Foreclosure properties in California are always of keen interest to real estate investors. Whether your goal is to find the right home at the right price or to diversify your portfolio by investing in California foreclosures, there are lists of property foreclosures ready and waiting for you.

It can be difficult, though, to find a legitimate list of California foreclosures. Many are out-of-date, overpriced and incomplete. While there is not a single, complete list of California homes in foreclosure, there are many resources available that can help you find that perfect California foreclosure property.

When finding California foreclosed property listings, among the key points to consider in your search are:

1. The timeliness of the list of bank-owned foreclosures in California.
2. The source of the list at which you’re looking.
3. The cost of the list of property foreclosures in California.

Action Steps
The best contacts and resources to help you get it done

Go for lists of California foreclosures that are as up-to-date as possible

Many lists of foreclosure properties in California are extremely out-of-date. This is especially true for print listings. Foreclosure listings move at the speed of light because of their bargain basement pricing. Therefore, it's important to always choose a resource that will provide you with up-to-the-minute bank-owned foreclosures in California

I recommend: RealtyStore.com puts every listing on its site through a 10-point quality check before it goes online. And its $1 week-long trial offer really lets you look at all kinds of California foreclosed property listings for very little money.

Choose lists of foreclosed properties in California from reputable sources

We've all seen the late-night infomercials with a crazy-looking, crazy-acting guy trying to sell lists of foreclosed properties. But really, is this the type of person from whom you should learn about California foreclosure listings? Instead, look for legitimate companies with a strong reputation for providing quality foreclosures.

I recommend: HUDforeclosed.com has the largest inventory of government foreclosure listings in California available. With the number of HUD-backed loans that end up in foreclosure, these foreclosure properties in California are courtesy of the most reputable source there is, Uncle Sam.

Don't spend a fortune for California foreclosure listings

With the myriad lists of California homes in foreclosure, it would be easy to think that you need to spend a good chunk of change in order to reap the best deals. This isn't necessarily so, though. Instead, focus on finding lists that fit the above criteria but don't cost an arm and a leg.

I recommend: ForeclosureFreeSearch.com offers a free seven-day trial period. Another site offering a seven-day trial membership is ForeclosureDeals.com. This trial costs only a few dollars, so again a great price for the opportunity to see what the site offers.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  If a deal looks too good to be true, it just might be. Remember that most California foreclosures can be had for about 40 to 70% of fair market value. If you're looking at something even cheaper than that, look closely to find out exactly why it is so inexpensive.
• •  Never buy foreclosed properties in California sight-unseen. Some companies offer this 'service,' but you're setting yourself up for a fall. Foreclosed properties can be highly damaged by their former owners at move-out, and you need to know exactly what you're going to have to put in to your California foreclosure property before you buy.

California foreclosures are easily found online when you search for retail, commercial, warehouse or other business property. The beauty of foreclosures is, of course, that you can buy a choice piece of property at much less than market value. When doing online foreclosure searches, look for specific types of properties in several areas, or pick one area and keep your property type open. Then you can search for foreclosure-only listings to find the best deals.

Making the most of California foreclosure listings is even easier when you find deals on businesses or homes in pre-foreclosure status. Use bank or national foreclosure listing databases that list properties in or near foreclosure, and search the U.S. Housing and Urban Development listings for HUD owned homes. When looking for foreclosure property, you should:

1. Find California foreclosures that are in their early stages. Even better, look for pre-foreclosures first.

2. Search bank or government-owned foreclosed properties in California for deals you may not expect. While they tend to be the higher priced foreclosure listings, you may be able to find a property at a good price.

3. Keep your eyes open for auction listings. These foreclosed properties in California sometimes sell for considerably less than assessed value.

Action Steps
The best contacts and resources to help you get it done

Start online by searching California foreclosure listings

Find a good online list of property foreclosures in California by first looking at what the website offers. The better foreclosure listings will include property values, sales data, loan information, local property comparisons, mapping features, photographs and e-mail notification of future foreclosures in the area in which you are interested in buying property.

I recommend: Use the All Foreclosure website to search for foreclosure listings in specific cities in California. Use the free search at CA-Foreclosures.com to find a bank and government California foreclosure listing including businesses, office buildings, commercial, industrial and retail properties.

Find listings for bank-owned foreclosures in California

Bank, government-owned and real estate owned (REO) foreclosures may not save you as much, but if you find the right California foreclosure property, you may be able to get it for a lot less than a piece of property that isn't in foreclosure.

I recommend: Search the U.S. Housing and Urban Development (HUD)recommended government foreclosure listings in California at PEMCO Northern California or PEMCO Southern California to find government owned foreclosure properties in the state.

Search California foreclosed property listings for auction properties

Find out about foreclosure listings before everyone else sees them by keeping tabs on listings at your local courthouse. Look for auction listings of homes in foreclosure, or better yet, find listings for homes in pre-foreclosure. The earlier you catch a property in the foreclosure process, the better deal you'll get.

I recommend: Search the CalHomeAuctions.com site for upcoming auctions for homes and businesses. Register at the Real Estate Disposition Corporation to get updates of newly listed California property auctions.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  Foreclosure listings vary from one website to another. Be wary of paying for a subscription to a foreclosure website until you've actually tried it out. Most offer a free trial period. Use it to make sure the listings for foreclosure properties in California include information you need to make an informed decision.

When it comes to understanding the process of foreclosures, it's helpful to understand the terms you'll be dealing with when reading a California foreclosure listing. Knowing where a property is in terms of the foreclosure process and how it will be sold will help you make an informed decision on whether or not to purchase the property.

So before you start browsing foreclosure listings for your next property, take the time to understand the terms you'll come across. Here are some of those terms along with some links to help you with the process.

Action Steps
The best contacts and resources to help you get it done

Notice of default

A notice of default in the state of California refers to a notice from the lender to the borrower informing them that they have not made the necessary payments on their mortgage. The notice is given after a period of substantial default. When dealing with California foreclosure listings, the date of the notice of default will be listed, as this starts the 'pre-foreclosure' process.

I recommend: Visit the website for Foreclosure.com for further information on a notice of default and how it is written and delivered within the state of California.

California 90 day extension

The 90 day extension refers to a law placed in the California Foreclosure Prevention Act which states that a lender must wait an additional 90 days after the notice of default is filed to foreclose on a property. When dealing with California foreclosure listings, the 'pre-foreclosure' process will then be extended to a period of no less than six months. This will be highlighted in the foreclosure listing of a property.

I recommend: Visit the website for California Housing Forecast for more information on the terms, rules and regulations regarding the 90 day extension law.

Notice of trustee sale

A notice of trustee sale refers to a document which is filed by the lender, which sets the date of auction no less than six months from the notice of default. In terms of California foreclosure listings, the details regarding when the notice of trustee sale and the auction date will be is provided in the listing.

I recommend: Visit the website for Foreclosure Radar for more information on the notice of trustee sale and its function within the foreclosure process.

California judicial foreclosure

Judicial foreclosure refers to a process whereby the lender files suit against the defaulted borrower asking the court to grant permission for the lender to foreclose on the property. After the judicial foreclosure is granted, the property is then auctioned off. In terms of California foreclosure listings, they will detail if the property has undergone or is currently undergoing a judicial foreclosure and subsequently when the property will be auctioned off.

I recommend: Visit the website for Stop Foreclosure for more information on how the judicial foreclosure process works within the state of California.

California right of redemption, right of redemption

A right of redemption refers to a process whereby the defaulted borrower may buy back or 'redeem' the property after the lender has auctioned it to a new party (termed the successor). While the right of redemption laws are intricate, this occurs because the lender usually goes after the buyer for a deficiency judgment for the difference between the price of the mortgage and the price of the auction. In this way, the debt, in terms of the lender has been cured. In terms of foreclosure listings in California, they will list the type of foreclosure, and subsequently if there is a deficiency judgment. As a potential buyer of a foreclosure, you must know whether the property can be redeemed from you or not.

I recommend: Visit the website for Find Law.com for further information on how a right of redemption works within the state of California.

Publication period

The publication period refers to the period once the redemption period has expired when the lender must post the auction date in various local newspapers to make the public aware of the auction. The publication period is governed by California law. In terms of California foreclosure listings, they will detail where in the publication period a particular property is before the auction.

I recommend: Visit the website for Foreclosure University for a further discussion on the publication period within the state of California.