are a symphony of investors, first timers, savvy contractors, property managers, and rookies all bundled up on Norwalk Blvd. by the courthouse steps, listening to the orders spoken out through all of the hustle and bustle of the big rigs, traffic, and pedestrians nearby. You can purchase a condo in Marina Del Rey 30% under market value or you can buy a home in Palmdale for $60,100.52 if you get lucky! The auctions don't really start as advertised in the paper but start once the trustee companies actually initiate an offering bid. Be prepared to wait for the one you are interested in, if it doesn't get postponed that is.
Know these three important rules before bidding on any Trustee Sale at the Court House steps:
1. make sure the property you are looking at is free and clear of all liens and judgements
2. make sure the property you bid on is in inhabitable or in a cosmetically repairable condition
3. make sure you have your cashier's check ready to pay the entire bid amount
As the blue teeth chirped and the big rigs honked, there were equities made and homes sold back to the banks or bannies as Kyle one of the auctioneers called it. All in all this was the most interesting day in my real estate career thus far, as I had attended to bid on two Glendale Real estate properties. Both sales ended up being postponed- one under mutual agreement of parties involved and the other due to the current owner filing bankruptcy to extend his staycation. I will definitely be back once my Presidents are stacked.
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