Goodyear, Arizona Foreclosures

Goodyear Foreclosures

There are foreclosure properties available in Goodyear, Arizona and all over the surrounding area. Foreclosures in general can be a very swift process by a mortgage company.  Foreclosure is the legal process by which a mortgage company can obtain legal ownership of a property.  This can be a golden opportunity for a prospective home owner buy a property for a substantial discount off of the market value of the home. 

In the state of Arizona, a lender must appoint a trustee, the person or entity that has the legal right to sell the home in a trustee sale, to handle the appropriate paperwork.  A record in the county recorder's office by the trustee. 

At least 90 days must pass from the date of the notice’s recording.  Other requirements must be met as well , such as a requirement to weekly publication of the notice for 4 weeks straight in a "newspaper of general circulation" in that county. A one thousand dollar deposit is required of every bidder of the home.  The house will go to the highest bidder.  At times that may even be the mortgage company itself.  It is also required that the winning bidder pay the balance of the price of the home by 5:00 p.m. the following day, excluding holidays. The second highest bidder will be awarded the home if the first highest bidder fails to pay the balance on time.  He or she is given until 5:00 p.m. of the next day. These funds or proceeds of the auction go to the primary lien (trust deed) on the home and then, if applicable, the second or junior lien holders. 

If you are looking to bid on Goodyear, Arizona Foreclosures, then give Adrian Diaz and the Adrian Diaz Team a call.  They can help you navigate the process and steer you to the best possible purchase of a home and foreclosure property.  In the meantime, sign up for an email update every time a property may come available.

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