2 Beds   1 Bath   882 Sq. Ft.   Condo
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W 8th St Apt 2
Upland, CA 91786

*Rental Value Coming Soon

Overview

This Condo Preforeclosure is located at W 8th St Apt 2, Upland, CA 91786. It has 2 Beds, 1 Bath , 882 sqft of living space. This property is currently in auction.
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Status: Active
Listing ID: 60238144
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Learn about W 8th St Apt 2 in Upland, CA

This condo property is available as a preforeclosure at W 8th St Apt 2. It has 2 bedrooms, 1 bathrooms, and 882 square feet of living space. Based on our analysis of the current market conditions in Upland for W 8th St Apt 2 and comparable listings, the estimated market value is still being calculated. If purchased for rental purposes, this property might present an opportunity to make monthly rental income. The rental value will be updated on this listing soon. Factors considered in this calculation include the property location, condition, status, and convenience. Properties like this one located at W 8th St Apt 2 are updated daily along with others in Upland, California. Since this property is a preforeclosure, check out our Foreclosure Timeline for W 8th St Apt 2 below to see helpful information about this listing.


Foreclosure Timeline

W 8th St Apt 2 in Upland California Property History

Not in Foreclosure

Pre-Foreclosure

Auction

Bank Owned

Find out more about this property on W 8th St Apt 2
View Foreclosure Status
09/18/23
Lis Pendens issued
The owner of this property was served a notice of lis pendens for missed mortgage payments.
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Property Information

Preforeclosure

The property located at W 8th St Apt 2 in Upland, CA is listed as a Preforeclosure

This listing located at W 8th St Apt 2 in Upland, CA could be available as a Rent-to-Own listing as well, additional diligence will be required from the buyer to determine if this listing can be approved as a RTO.

Please take note that this property in Upland, California is not listed as a Rent-to-Own (RTO) opportunity. It is currently in an initial default stage in Upland, CA, commonly referred to as Pre-Foreclosure, indicating that the homeowner has missed at least one payment and is considered delinquent. However, instead of going through a potentially lengthy foreclosure process, which could take up to 18 months, the homeowner may be open to considering a Rent-to-Own option that covers their mortgage.

Since Pre-Foreclosure properties are not formally listed for sale, there is no asking price available. Instead, you’ll find either the original loan balance or an Estimated Market Value (EMV) provided. To make a reasonable offer for this home, it’s advisable to use either the loan balance or EMV amount in conjunction with local sale price comparables to determine an appropriate offer. Alternatively, the homeowner might be willing to work with you on a monthly amount that can help them avoid the foreclosure process.

You may also want to check with a real estate attorney or other legal authority to discuss the potential risks of executing a Rent-to-Own agreement with the current Pre-foreclosure owner. If the current owner in Upland, California doesn't make their mortgage payments, they could lose the property which would directly affect you and your Rent-to-Own agreement.

For this reason, many buyers find a real estate investor or investment company to buy a Pre-Foreclosure property from the current owner. The investor/investment company could then offer you a Rent-to-Own agreement on that property that you worked out with them in advance, which could stabilize the investment and prevent complications.

First Steps to Buying a Preforeclosure

Preforeclosure status means the owner of the property has defaulted on his mortgage obligation and the lender is taking steps to foreclose on the loan and take possession of the property. This situation places the property owner and the lender in a disadvantaged position. But it may not be too late for the property owner to work things out with his lender.  At the same time the lender may be interested in allowing a short sale (sale of the property for less than the amount owed) just to avoid the costly process of foreclosure on the loan, and then the expense of marketing the property. That leaves open the opportunity for a real estate investor to come in and solve the problem for both parties.

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Auction Information

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Listing History

Start Date End Date Listing Type Bank Name
09/18/23   Preforeclosure

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W 8th St Apt 2
Upland, CA 91786

2 Beds   1 Bath   882 sq. ft.   Condo

 

Status: Active Listing ID: 60238144

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