A Simple Look At California Real Estate Investing

Buying real estate is never going to cease. People of all walks of life look into this from time to time. Whether it’s to purchase a home or it’s for commercial real estate elements people are always going to be buying property. Now, in regards to California, the real estate market is quite good and investing is a smart move. When going forward however you’ll need to know a few things about how to protect yourself from scams that are all over the place.

Protecting Your Money

There are several things that you should know about buying real estate. The first of course is in regards to your finances. You should not approach this lightly. You need to make sure that you know what type of sale you’re going to get involved with. There is the short sale, the foreclosure sale, and the purchase-money sale. These three are different and can cause you to have severe headaches if you don’t understand them a bit closer.

The Short Sale

Focusing first on the short sale, you’ll need to realize that the list price will be less than the value of the home. That’s a good deal at first glance, but you need to remember that there are going to be fees, paperwork, and more. In fact, you’re going to be purchasing property from the bank and they are not in a hurry to unload property. In some instances, even with the proper paperwork filed, you will need to wait months or years for this to close properly. It’s going to take time simple as that. Furthermore, you’re going to need to consider the title in this case including land lease and more. It’s complex albeit tempting at first glance. It’s not a bad thing, it just requires a bit more work.

The Partition Sale 

This sale type is usually found when a person has passed or someone has inherited property from various means. Whatever the case is there are usually two parties involved and one doesn’t want to sell. You’ll have to be outside of the statues of limitations if you go with this sale and in the case of California you’ll need to wait a year otherwise you may have to fight in court to get the full title on the home.

Purchase- Money Sales

When investing this type of solution has a mortgage as well as a deed of trust. This means that if there’s a default the debt collected can be foreclosing on the home outright. This may be low cost up front but it’s going to be problematic if you fall behind on the mortgage payments so be careful.
At the end of the day it’s best to speak with a real estate agent that has some experience in the California marketplace. That way they can navigate these sale types and give you the best option moving forward.

Orange County Attorneys at Gokal Law