Investor Resources

Lodi, Stockton, Manteca, Tracy

Have you ever wondered what happens at a foreclosure auction? Where are they held at? How does the auction work?  Watch this video produced by

Although taken in San Diego, the procedures described could also be used as a Lodi, Stockton, Manteca, Tracy foreclosure auction guide.

Locate the Trustee Sale location in advance.  Here is the link to San Joaquin County Foreclosure Auction information.

Three Possible Outcomes to an auction
1.   Sale Postponed to a later date
2    Foreclosure cancelled.
3.   Property sold to a 3rd part or goes back to the bank.

Be Aware and Alert – Common for multiple auctions to be scheduled for the same day. Possible for sales to overlap or be scheduled simultaneously.  Make sure you’re watching the correct auctioneer.   Events may not happen in a particular order.   Property could come up for sale, postponement or cancellation at any time.

The Opening Bid – Lender’s opening bid for the property for sale is usually lower than the published bid to attract bidders.   If no higher bid, the property is sold back to the lender.

Know what you are bidding on.     You are bidding on the property as described in the deed of trust which is filed with the County Recorders Office?   What if the address is wrong?   Best to check the legal description before you bid.

Terms of Sale.   All sales are in as-is condition without any warranty which means you get no keys.   If there are people in the property, it will be your responsibility to get them out.  Remember, there are no warranties or guarantee on the condition of the property.  The purchase is subject to existing liens and/or encumbrances.    You are responsible for senior loans and liens against the property.   You are responsible and must be any back property taxes.   Make sure you research the property in advance of the auction.

Know what you are buying.   Know the deed of trust, document number and date.    Never bid based upon an address alone.

Need cashiers check and photo identification.

How to bid.   Bid one penny over  to start and then bid in either $100 bids or $1,000 bids depending on how far you have to go to get the bid.

If you are the winner.   Provide the auctioneer your information.   Expect a handwritten receipt.  Overpayments will be refunded by the trustee.

209-957-1858 or toll free 877-605-3601

Bob Peralta is a Certified Investor Agent Specialist  (CIAS)
that can help you find what you want

Email us if you would like copies of the following forms, worksheets and calculators

Calculating Adjusted Basis of Property Worksheet

Calculation Cheat Sheet including

  1. Gross Operating Income (GOI)
  2. Net Operating Income (NOI)
  3. Cap Rate (Capitalization Rate)
  4. Debt Service Ratio (DSR)
  5. Cash Flow
  6. Cash on Cash Return (CCR)

Capital Gains Worksheet

Contract to Closing Checklist

Financial Calculations Spreadsheet

Lease Addendum

Negotiation Cheat Sheet

Property Evaluation Worksheet
Property Information Worksheet
Property Preparation for Lease Checklist
Property Preparation for Sale Checklist
Property Walk Through Form
Rehab & ReSell Calculator Worksheet
Sample Investor Rental Policies Form
Tenant Screening Checklist

Tenant Safety Walk-Through Checklist

Why investors are the main reason for the housing recovery