How to Search for Bank Owned & upcoming Lender foreclusres on small commercial Strip Centers in Fallbrook and Temecula


#1

Topic pretty much says it. Please help. I am a Broker with long time client in a 1033 exchange___City of Vista just bought his property, netting him about $950,000 and he wants to acquire a commercial strip center in Fallbrook or Temecula for under $1,500,000.


#2

Hi Don,
In ForeclosureRadar you would want to search by the status of A-auction for upcoming trustee sales and B-Bank Owned for properties that are now REO’s.
I that there are some very serious rules and time lines when identifying exchange properties and with the delays in the foreclosure process it could be risky to try to purchase a foreclosure as the 2nd leg of your exchange.


#3

Those time lines are quite liberal in a 1033 exchange as opposed to a 1031.