Los angeles county records pre-foreclosure property

If there has not been a sale within the last 10 years, it can serve as an indicator that there is a higher likelihood that a property will sell. Service providers looking for properties to prospect often target new owners. This is because new owners are often motivated to make improvements on a newly purchased property, and the owner is much less likely to have service providers already employed.

Searching recent sellers on Reonomy is one way to build a list of potential real estate buyers. By doing this, you can find owners who have recently purchased similar properties, that may be looking to add more assets to their portfolio. If a property has transacted several times in a short period of time, or if there is an abnormal number of sales, red flags arise. These red flags could prompt further questions or due diligence that might help you uncover information that would cause you to avoid pursuing a property. Analyzing the previous sales price and date can serve as a proxy to determine what the current value of a property is as well.

The most recent sales price can be appreciated or depreciated by the change in overall market value to get a rough idea of what the current value is. Property sales records, while not the only factor, are the basis of all comps for commercial real estate. Comps are a critical part of estimating the current value of a commercial asset, and are popular among appraisers and investors.

On Reonomy, you can easily find comps for any property. They are created using prices paid for recently sold properties similar in size and characteristics, that are under similar environmental and locational influences.


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With property sales records, you can see the LLCs historically involved with transacting an asset. First and foremost, Reonomy owner records show you the current recorded owner of a property, LLC or individual, along with the contact information of the individuals associated with ownership in any way including those behind an owning-LLC.

Reonomy gives access to property owner phone numbers, email, and mailing addresses, letting you go beyond the name of the LLC and get the contact info for LLC decision-makers. Or at least that is the best-case scenario. Owner records with accurate contact information save significant amounts of time for CRE professionals. They save the time usually needed to find contact information , plus allow you to waste less time with incorrect contact details.

Time is also saved by minimizing the amount of people involved in any transaction or interaction. Y ou can go through fewer chains of command and are more likely to generate an answer in a timely manner. An owner search will show how long the current owner has held the property for and what they paid for the property. Both of these will help when making an inference on what the owner intends to do with the property.

The longer someone has held a property, the more likely they are to sell. The price the owner paid for the property can suggest what they expect to receive for the property now. If an owner has owned the property for a short period and is looking to sell, they may value the speed of sale. Understanding the intent of the owner is also valuable when making contact, because it allows you to tailor your pitch on a very granular level.

It lets you find a scenario whereby meeting their needs can also benefit your own. Property mortgage records outline the current and past debt on a commercial asset. On Reonomy, that includes the following information….

The mortgage origination date is the date that a loan was issued. You can see the origination date of individual loans when analyzing a property in Reonomy. You can also see the maturity date of the loan—the date in which the loan is set to be repaid in full.

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This is also the termination date of a mortgage. The maturity date is perhaps the most valuable indicator of opportunity for mortgage brokers and lenders. The loan amount is the value or size of the mortgage when first issued. Within the mortgage records of a property, you can see the exact loan amount, as well as the terms of the loan. Paired with the above information, you can infer quite a bit about a property, its owner, and its lender. You can further filter such a search by location, asset type, building and lot characteristics, and much more. For example, if you know that you can offer better interest rates than that of the current lender, your pitch has already hit the ground running.

This includes what category of pre-foreclosure the property is in, its current status, the recording date, judgment amount, and more. This can help in building a list of leads, in the case that you are a lender of distressed properties. It can also help for investors and other buyers that are looking to capitalize on pre-foreclosure investing before properties reach auction. Building and lot records include the full specs of the lot size, as well as the size and age of the building that sits atop the lot.

Tax-Defaulted Land Sales

In fact, some investors such as government-sponsored enterprises Fannie Mae and Freddie Mac routinely proceeded with the foreclosure if it was the fastest option and likely to produce more money than a short sale. The Pooling and Servicing Agreement for some conventional loans also contained financial incentives that encouraged foreclosures over short sales. Let's not forget the mortgage insurance scandal, which is perfectly legal. This is when a lender takes out its own mortgage insurance without notifying the borrower.

You might be surprised to know that companies exist for the sole purpose of selling insurance to protect against the bank issuing worthless loans, and some of the banks purportedly own parts of these mortgage insurance companies. When a borrower applies for a short sale, the mortgage insurance company might demand such a high payoff that the shore sale becomes impossible. In some circles, that might be considered sabotage.

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Save my name, email, and website in this browser for the next time I comment. Contact our experts with questions about any of the data and analytics referenced in our articles. Foreclosure Starts Increase in 44 Percent of U. Markets in July Share this post Tweet Share Share Email.


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