Bank Owned - They dont know

4 Replies

I have found a property that I believe, the bank doesn't know they own. It was foreclosed on in 2010, listed for auction in 2011, but is still owned by the bank. The taxes are 10 years delinquent and the county just slapped a right to sell notice on the tax bill. The county only does auctions once a year, in October, so there is another year before this thing hits the auction block. What would be the best way to get this property? Wait till next year, call the bank and tell them they own it? This is a California Property, so I can not buy the tax lien.

@Gregg Henry

You could try the county clerk recorders office at 2954 Richardson Drive Auburn, CA, 95603 and run a property profile to see who's holding legal title.

The address will match the assessors parcel number which will show you who's paying the tax bill...

Mark Pedroza, Real Estate Agent in CA (#01858403)
1-415-786-6700

I have pulled a property profile. Bank owns it - has for 10 years. No doubt there.

I could contact foreclosure attorney or bank but once’s its back on there radar, I don’t think they will cut me a deal because I found it for them? Won’t they give to reo agent and put on market?

Usually properties in California go to the tax deed auction after 5 years of unpaid taxes. Since this property’s taxes have been unpaid for 10 years, are you sure it hasn’t been on the auction list before and just not sold? Occasionally properties will stay on the list for multiple years because they’re not a deal even at the minimum bid price. Seems odd that it would have taken 10 years to first appear at the auction. 

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