Notice of Trustee's Sale on house in my neighborhood
I have been keeping my eye on a property in my neighborhood that has had a for sale sign on it for quite some time. Awhile back it went pending on a few listing sites. I then saw a sold sign on it and a few weeks later the sold sign was removed and the agent sign still hangs in the front yard. The property is still listed on Redfin as pending. As I was driving by today I saw some papers taped to the door so I walked over to see what they were and see that they are “Notice of Trustee’s Sale” documents.
I am curious what kind of options might be available in circumstances like this?
What are a few approaches that can be taken to find out more information on the property and potential avenues for acquiring?
I believe I have located the owner from the notice on the door and the address for the owner is listed as a different address than the house in question which looks like it has been vacant for quite some time.
The amount listed due on the notice is $190,512.79 what are the possibilities of this being lowered by the bank that owns it?
Court house sales are done as all cash which I do not have, my goal would be to acquire this property before it goes to be sold on the court house steps as a buy and hold to be a rental, that being said it would need to be for the right price which the amount owed is not the right price. The right price would be more in the 140,000-150,000 (if the inside is not torn up) price range based on the rent it would be able to bring in and I would be able to do that no problem through conventional financing.
Seeking any advice folks might have on this type of transaction.
Property is in Sacramento Ca, zip code 95835.
Thank you in advance to any insight that is given.