Does Foreclosure Radar track commercial property? I am finding examples of property that have NODs but its not on the radar…
Yes, We absolutely do! If you find a NOD that we are not showing please let us know immediately so we can research and correct.
Hi Sean,From your experience are many of the commercial deals done with recourse (so they will end up in front of a judge) or nonrecourse and as such be posted on fclradar? what % is judicial/nonjudicial? Also when it goes w recourse does it then get auctioned off (after the judge orders a sheriff sale) the same way as a trustee sale does?this is for CAthanks
To my knowledge the bulk of commercial deals use non-judicial foreclosure as well. By using non-judicial they do still give up their right to recourse, but the amount of time required for a judicial foreclosure will usually outweight the benefit of recourse. ? And yes, a judidical foreclosure will result in an auction.