Eligible Bidders
Welcome to Foreclosure Online Auctions, hereinafter will be referred to as “FOA”, where you have access to foreclosed properties to be purchased under California Legislation SB1079.
Due to the overwhelming responses, we receive, we strongly urge you to COMPLETE a loan application before you bid. If you’re a Prospective Owner Occupant, tenant buyer, or Non-Profit, in need of financing email info@foauctions.com or call 323.443.1953
Important Auction Information
State: California
Auction Type: Absolute Buyer’s Premium: 15% added to Bid Price.
ADJUSTMENT DISCLAIMER NOTICE: Buyer’s Premium
Please be advised that the fees associated with our services are subject to changes without prior notice. The determinations and modifications of fees are at the discretion of FOA. While we strive to provide transparency and communicate any changes in a timely manner, there may be need to, necessitate immediate adjustments to particular properties on a case-by-case basis, of which fees could be higher or lower than the base 15% Buyers Premium.
It is recommended that users regularly review our fee structure for the most up-to-date information. By engaging our services, you acknowledge and agree that FOA reserves the right to modify fees at any time. We appreciate you understanding and continued trust in our commitment to providing quality services.
This disclaimer serves as a notification of the potential for fee changes and underscores the importance of staying informed about any updates to our fee schedule. If you have any questions or concerns regarding our fee policy, contact us for clarification.
Earnest Money Deposit: 3% of Purchase Price
Closing Date: on or before Bid Ending time.
Properties are not owned or controlled by FOA, we are a facilitation platform and are making these properties available to the public pursuant to California Civil Code 2924M. No title search has been performed by “FOA”, or the foreclosing trustee. However, title insurance may be offered through a reputable Title company if title is insurable. It is the bidder’s responsibility to conduct his/her/its own due diligence prior to bidding. It is purchaser’s responsibility to consult with his or her own Consultant, Real Estate Agent, or Attorney prior to bidding on the property.
Foreclosure Online Auctions Notes: Properties will be purchased pursuant to California SB 1079 and will be sold and transferred by Trustee’s Deed Upon Sale using the most recent deed description. No title search has been performed by the Trustee, auctioneer, or escrow. However, title insurance can be offered through a reputable title company. It is the bidder’s responsibility to conduct its own due diligence prior to bidding. It is purchaser’s responsibility to consult with his or her own Real Estate Agent, or Attorney prior to bidding on the property.
Purchaser is responsible for payment of all taxes. Property taxes will NOT be adjusted as of the date of closing.
IMPORTANT!
If you do not have the money to purchase any property on this platform, please DO NOT BID!
This sale of this property is not contingent on your ability to obtain financing.
This property may or may not qualify for financing. You should discuss the purchase with your agent or lender before bidding on the property.
By bidding, you are entering into a binding agreement that you agree to and will abide by all terms and conditions of the auction
Online Bidding Tips
We want to make your experience at the auction enjoyable and easy to understand. Here are some tips that will help you.
Learn about the property
• Read all the information about the property on our website at
• You MUST be able to close in within 30 days or less, unless agreed to in writing for an extended period by your private money lender.
• Read this information completely. Email or call us if you have any questions.
• As a Prospective Owner occupant you are required to place the last and highest bid, as a Tenant buyer you are not required to bid; You only need to match the last highest bid, that was placed by the original foreclosing trustee, however you do need to place that bid in our system. In the event you are bidding as a Prospective Owner Occupant some properties may still be occupied by the previous owners or tenants, be sure to visit the property to understand if it is vacant or occupied. If you engage us to perform due diligence we will do this for you.
• Do not disturb occupants. Trespassing is a criminal offense.
Register early!
Prospective Owner Occupants and Tenant Buyers, you have 10 days from the day the property goes to sale to submit a bid on our system. Please do not wait until the last 10 minutes before the bid time and day ends to submit your bid. If any of your information is not correct, the online system may not let you bid, and you may not have time to correct it before bidding ends.
The registration system may require a credit card. Upon placing your bid, this card is authorized for $1.00, but is not charged. It is used for the purpose of identity verification. However, in the event you are placing a bid as prospective owner occupant or tenant buyer, your card will be charged to overnight your affidavit of eligible bidder to the original foreclosing trustee pursuant to 2924M section (4) (A) (i) to the original foreclosing trustee. If you do not have a credit card, you may not be able to place a bid.
Are there any additional costs?
If you are the high bidder, you will be responsible for some additional costs in addition to the bid price.
Buyer’s premium for this auction, property taxes, and other potential expenses, may be included in this auction.
Additional Questions? Email us at info@foauctions.com or call us at 323.443.1953. We are here to help
The sale of this property is not contingent on your ability to obtain financing. However, you should get approved and discuss the purchase with our lender prior to bidding on any property. Click here to get qualified or call Anali Gonzalez (310) 941-0244 our prefered lender
NMLS# 255735 | Branch NMLS ID# 2475247
Mortgage Loan Originator | CMG Home Loans
Real Estate Transfer Disclosure Information
All properties on the FOA site are being sold "as is". The street address and other common designation, if any, of the real property is described herein the FOA property portal.
FOA disclaims any liability for any incorrectness of the street address and other.
common designation, if any, shown herein, said purchase will be made without covenant or warranty, express or implied, regarding title, possession, or encumbrances.
If FOA is unable to convey title for any reason, the successful bidder's sole and exclusive remedy shall be the return of monies paid to the Trustee and the successful bidder shall have no further recourse.
Notice to Potential Bidders
If you are considering bidding on this property, you should understand that there are risks involved in bidding at a Foreclosure Online auction. You will be bidding on the property itself, however placing the Buy Now bid at this auction does not automatically entitle you to free and clear ownership of any property.
You should also be aware that the property being auctioned off may have senior liens and taxes. If you are the highest bidder at the auction, you are/or may be responsible for paying off all senior liens recorded against the property, before you can receive clear title to the property.
You are encouraged to investigate the existence, priority, and size of outstanding liens that may exist on this property by contacting this office, the county recorder's office or a title insurance company, either of which may charge you a fee for this information. If you consult either of these resources, you should be aware that the same Lender may hold more than one mortgage or Deed of Trust on the property.
Legal Disclaimer: FOA has no intentions of offering legal advice of any kind. FOA does not practice law. A real estate consultant or agent can only offer real estate advice. If you need legal advice, please consult with a real estate attorney.
Customer Service Terms
Service: FOA is a facilitation platform, the properties on this site are not owned or controlled by FOA but are foreclosed properties made available to the public under California legislation. The Bidder acknowledges receipt of the information herein and by bidding on any property is representing they have read and understood the information as presented. The Bidder is considered a Customer of FOA and or its representatives will receive valuable consideration in the form of a service fee for its efforts as a facilitator in any transaction consummated on our platform.
FOA will not discriminate based on race, color, creed, religion, sex, national origin, age, handicap or familial status and will comply with all federal, state and local fair housing and civil rights laws and with all equal opportunity requirements.
Registration: All Bidders must register with the FOA. By registering and bidding, the Bidder acknowledges that he/she has read and agrees to the terms, conditions, and auction information herein. The Bidder agrees to sign pertinent documents related to the transaction, pay the required earnest money deposit, and close the transaction if he/she is determined to be the Buy Now Bidder.
Bidder Verification: The identity of all Bidders will be verified. A Visa or MasterCard may be required to register. No charges will be made to your card unless you are determined to be the Buy Now winning Bidder, however and you fail to execute the eligible bidder affidavit and pay the required earnest money deposit you will be charged a penalty of up to $2,500.00.
The initial document that will require your signature will be included as a part of the purchase process. It may be available in the auction listing attached hereto and made a part hereof or emailed to you after you have placed your bid, all documents need a live signature and can be faxed to 800-480-7310 or emailed back to us at info@foauction.com These documents may include, but are not limited to the Following Documents: Eligible Bidder affidavit, and in the case of Private Money Financing Loan Documents of which include a Note and Deed of Trust Agreement. All documents are not required in the case of an all-cash purchase.
Online Bidding: This is an online timed auction. There will not be a live auction. All bids must be placed online. FOA is not responsible for malfunctions or system errors, which cause a bid or bidder to fail to be recognized or registered.
Buy Now Bidders: A prospective owner-occupant only need to be is the last and highest bidder pursuant to the conditions set forth in Section(4)(a)(1) of 2924h for the sale to become final are met.
SEE: Non-profit Bidders below pertaining to the applicable bidding increments of which applys to prospective Owner-occupant bidders
Tenant Buyers: A tenant buyers only need to submit to the trustee a bid in an amount equal to the full amount of the last and highest bid at the trustee’s sale pursuant to the conditions det forth in Section (4) (a) of 2924m.
Non-profits Bidders: if you place a bid, the online bidding system will enter your bid as the next required bid in increments of 2,000.00. If you are the high bidder and another bidder places the next required bid of $2000.00, then the online bidding system will bid for you at the next increment of $2,000.00, and so on. If at such time a bidder places a bid that is higher than your Bid, then you will be outbid. If you are not outbid, then it is possible that you may win the bid for an amount less than your last bid.
No Extended Bidding: All online auctions have a scheduled ending time, and there will be no extended bidding.
Bidding Errors: Prospective Owner occupants Non-profits and entity buyers pursuant to 2924m and 2924o If you mistakenly increase your own bid, place your bidder number in the bid field, or make any other gross bidding error, you must contact our office immediately by email. If an adjustment is made to your bid, you must remain the high bidder. We will not reverse bids that have caused another bidder to be outbid. We will not reverse any bids after the auction has begun to close, no exceptions.
Server & Software Technical Issues: In the event there are technical difficulties related to the server, software or any other online auction-related technologies, FOA reserves the right to extend bidding, continue the bidding, or close the bidding. Neither FOA nor the online bidding software and service provider shall be held responsible for a missed bid or the failure of the software to function properly for any reason. FOA reserves the right to cancel, suspend, extend or reschedule an individual auction event. FOA reserves the right to make changes to the auction closing times or inspection or removal times. Email notifications will be sent to registered bidders with updated information as deemed necessary by FOA.
Bid Price: The Bid Price will be determined by adding your bid price and a Buyers' Premium equal to a percentage of the bid price together. The Buyers' Premium is disclosed at the beginning of these Terms and Conditions. Below is an example of how this calculation works using a fifteen percent (15%) Buyers' Premium.
Example: Bid Price $100,000.00 Buyers' Premium $15,000.00 Purchase Price $115,000.00
Affidavit of Eligible Bidder Execution: Within two (2) hours of the conclusion of the bidding, a Affidavit of eligible bidder will be emailed to the address provided at registration. Bidder will have twenty-four (24) hours from the conclusion of the auction to return all documents along with the required earnest money deposit. The earnest money deposit will be applied towards the purchase price.
The affidavit can be faxed to 800-480-7318 or emailed to info@foauction.com . Acceptable methods of payment for the earnest money deposit are certified funds, or wire transfer to a reputable escrow company. Credit cards are not accepted for earnest money deposits. Successful Bidders not executing and returning the executed affidavit with the earnest money within twenty-four (24) hours from the conclusion of the auction will be considered in default.
Failure to Execute Affidavit: At the discretion of the FOA, a penalty of up to two thousand five hundred dollars ($2,500.00) will be charged to the credit card provided at registration if you are determined to be the Buy now or high bidder and fail to return the signed affidavit and pay the required earnest money deposit within the required time period. Payment of the penalty shall not affect other remedies available to FOA for such failure.
Escrow: FOA will designate a licensed reputable escrow company to hold any earnest money deposit made in accordance with the purchase of any property on our platform. Earnest money deposit may be held in an interest-bearing account. Escrow will retain any and all interest earned on the earnest money deposit. Escrow will perform all necessary duties as required by law to consummate all purchase transactions. You can use your own agent or attorney to review the documents. If you would like for your agent or attorney to review the documents, please see the escrow named in any documents you may have received.
No Contingencies: All properties on the FOA platform are being sold for cash. The earnest money is not considered an “option” payment. There are no contingencies for bank financing, inspections, repairs, or other conditions. Tt is recommended that you secure financing prior to bidding if needed
Closing: The balance of the bid price will be due on or before the designated closing date. The closing will take place with the designated licensed escrow company. The bidder will pay all closing costs. These costs will include, but are not limited to: attorney fees, title search, transfer tax, deed preparation and wire transfer fees. The Trustees Deed Upon Sale will be furnished by the original Trustee who foreclosed on the property, with the cost of preparation and transfer tax paid for by the bidder. Bidder authorizes their respective agents or attorneys if any and the escrow officer to furnish to them copies of the ALTA settlement statement, HUD1, or other settlement forms.
Successful Bidder: In the event you are the successful bidder and escrow is in the possession of the Trustees Deed Upon Sale. Escrow will record the Trustees Deed Upon Sale along with any other pertinent Loan Documentation and Deeds of Trust. You will also be furnished a copy of your Settlement statement, HUD1 showing your fees and expenses, which will act as the settlement statement to verify that all funds have been received and disbursed according to your agreement. There may or may not be a face-to-face closing. All of this will take place by mail or telephone or email.
Documents signings are handled by licensed notaries.
Foreclosing Trustee: The foreclosing trustee is the original trustee of whom originally was hired by the lenders of the foreclosed property, all final bids are submitted to the original foreclosing trustee.
Un-successful Bidder with foreclosing trustee: In the event your bid is unsuccessful in the case of cash or financing, your deposit will be returned at the time the original foreclosing trustee returns the funds to FOA, and or its affiliates escrow company, attorney and or individual.
Default: In the event the Affidavit of eligible bidder is signed, the Bid is received, and the bidder fails to comply with the completion of the purchase and close the transaction on or before the scheduled closing date, the earnest money deposit will be forfeited, the transaction will be canceled, and the bidder will relinquish any right to complete the transaction and shall have no rights or interest in the property. Forfeiture of the earnest money deposit shall not affect any other remedies available to FOA for such failure.
Title: All properties are being sold by Trustees Deed Upon Sale only. No title search has been performed. Title insurance will not be offered. It is understood that the property is subject to all reservations, easements, rights of way, and restrictive covenants of record or on the premises, and to all government statutes, ordinances, rules and regulations. Any property is to be sold in “as is, where is” condition without warranty either expressed or implied by the FOA.
Property Sold in “As Is” and “Where Is” Condition: The property will be sold by Trustee to Bidder on an “as is” “where is” and with all faults basis. Bidder accepts all faults of the property whether known or unknown, presently existing or that may hereafter arise. Bidder acknowledges and agrees that the Trustee and FOA have not made, does not make and specifically negates and disclaims any representations, warranties, promises, covenants, agreements or guarantees of any kind or character whatsoever, either expressed, or implied, oral or written, past, present or future, or, as to, concerning or with respect to:
(i) the value, nature, quality or condition of the property, including without limitation, the water, soil and geology;
(ii) the income to be derived from the property;
(iii) the suitability of the
property of any and all activities, and uses which Bidder may conduct therefrom; (iv) the compliance of or by the property or its operation with any laws, rules, ordinances or regulations of any applicable governmental authority or body;
(v) the habitability, merchantability, marketability or fitness for a particular purpose of the property;
(vi) the manner, quality, state of repair of the property;
(vii) the existence of any view from the property or that any existing view will not be obstructed in the future;
(viii) any other matter with respect to the property, and specifically, without limitation, the Trustee nor FOA have made, does not make, and specifically disclaims any representation regarding compliance with the Americans with Disabilities Act or with any environmental protection pollution or land use laws, rules, regulations, orders or requirements, including solid waste (as defined by the U.S. Environmental Protection Agency regulations at 40 C.F.R., Part 261) or the disposal or existence, in or on the property of any hazardous substance (as defined by the Comprehensive Environmental Response Compensation and Liability Act of 1980, as amended, and regulations promulgated thereunder). Bidder further acknowledges and agrees that Bidder is relying solely on Bidders own investigation of the property and not on any information provided by or on behalf of Trustee or FOA. As a result, Bidder further also agree that there will be no Agency Disclosure Form provided to Bidder pursuant to California Civil Code 2079.16 as amended.
Indemnification and Release: Bidder and anyone claiming by, through or under Bidder hereby fully and irrevocably release Trustee and FOA and their respective employees, officers, directors, representatives, and agents from any and all claims that Bidder may have or hereafter acquire against Trustee and FOA, their employees, officers, directors, representatives and agents for any cost, loss, liability, damage, expense, demand, action or cause of action arising from or related to any construction defects, errors, omissions or other conditions, including environmental matters, affecting any properties on our platform, or any portion thereof
Property Subject to Reassessment for Property Taxes: The Bidder will pay any additional taxes due as a result of a reassessment by taxing authorities, if applicable. Rollback Taxes: The Bidder will pay rollback taxes, if applicable.
Possession: all properties on our platform may or may not be occupied, therefore Possession of the premises may not be available to the Bidder at closing.
Additional Stipulations: FOA reserves the right to email all registered Bidders any changes or additions to these Terms and Conditions.
Disclaimer: All information published, announced, or contained herein or in the online auction listing was derived from sources believed to be correct; however, FOA does not guarantee this information to be correct. It is highly recommended that you personally conduct an on-site inspection of the property, if possible and examine all documents pertaining to any property purchased on our platform its accuracy. The failure of any Bidder to inspect or be fully informed as to the condition of the property, will not constitute grounds for any claim or demand for adjustment or withdrawal of bid, offer, or earnest deposit money after its opening tender.
What To Expect If You Are the Winning Bidder
Our office will call you shortly after the end of the FOA auction. At that time, we will verify the name(s) to be entered on the Affidavit and the Trustees Deed Upon Sale.
Next, we will email you the completed Eligible Bidder Affidavit. The email will include directions for returning the signed documents and sending the Earnest Money Deposit (wire, or cashier’s check).
Please return all documents and earnest money within 24 hours.
Upon receipt of these, escrow will forward the affidavit along the funds to close to the Bank Trustee. In the event the Bank Trustee accepts your final bid, they will send the original Trustees Deed Upon Sale to the designated licensed escrow for closing. At the same time, copies of the documents and closing information will be forwarded to the bidder. Then, escrow will contact you to sign your final documents and schedule the closing for the property.
Prior to the closing, escrow will supply you with a copy of the preliminary HUD settlement statement showing the accounting of the transaction and any remaining funds that you will need to bring to closing. Have questions or need clarification? Email us at info@foaucitons.com or call us at 323.443.1953. We are here to help.
Agreement: By bidding with FOA you are entering into a binding agreement and there are no refunds, bid cancellations or retractions. The Bidder is personally responsible, legally and financially for his/her/its auction bid. Any Bidder, who fails to comply with the terms of the auction, sign the affidavit and pay the earnest money deposit, and close the transaction, will be banned from bidding in future auction events and may be pursued for civil and/or criminal violations.
Term: This agreement shall terminate automatically upon non-payment of any portion of the subscription fee.
Employees: The Parties' employees, partners, representatives and agents who perform services under this agreement, while performing such services, shall be subject to the provisions of this agreement.
Confidentiality: To conduct the business intended hereunder, the FOA may share proprietary and confidential information, including introductions to third parties (collectively, "Information"). The bidder or agents shall use the Information only for the purposes intended and shall not, at any time or in any manner, either directly or indirectly, use any Information from the other party for its own benefit, or divulge, disclose, or communicate in any manner any Information to any third party without the prior written consent of the disclosing party. The parties will protect the Information and treat it as strictly confidential. A violation of this paragraph shall be a material violation of this Agreement.
Unauthorized Disclosure of Information: If it appears that a party has disclosed (or has threatened to disclose) Information in violation of this agreement, the other party shall be entitled to an injunction to restrain the party from disclosing, in whole or in part, such Information, or from providing any services to any party to whom such Information has been disclosed or may be disclosed. The non-breaching party shall not be prohibited by this provision from pursuing other remedies, including a claim for losses and
damages.
Confidentiality After Termination: The confidentiality provisions of this Agreement shall remain in full force and effect after the termination of this agreement for the longest time permitted by law.
Notices: All notices required or permitted under this agreement shall be in writing and shall be deemed delivered when delivered by email, in person, or deposited in the United States mail, postage prepaid. Such addresses may be changed from time to time by either party providing written notice to the other in the manner set forth above.
Entire Agreement: This agreement contains the entire agreement of the parties regarding the matters herein and there are no other promises or conditions in any other agreement whether oral or written. This agreement supersedes any prior written or oral agreements between the parties. To conclude any opportunity, other agreements or documents may be required; the parties shall provide such other documents or agreements.
Amendment: This Agreement may be modified or amended by a writing signed by both Parties.
Severability: If any provision of this agreement shall be held to be invalid or unenforceable for any reason, the remaining provisions shall continue to be valid and enforceable. If a court finds that any provision of this agreement is invalid or unenforceable, but that by limiting such provision it would become valid and enforceable, then such provision shall be deemed to be written, construed, and enforced as so limited.
Waiver of Contractual Right: The failure of either party to enforce any provision of this agreement shall not be construed as a waiver or limitation of that party's right to subsequently enforce and compel strict compliance with every provision of this Agreement.
Applicable Law. This agreement shall be governed by the laws of the State of California. The venue for any dispute shall be the courts of the County of Los Angeles, California. The prevailing party shall be entitled to its legal fees and costs.