On this page you’ll find a list of businesses inside California which may have repo cars for sale, foreclosed homes, reclaimed real-estate, RVs, in addition to boats. Financial institutions in Sacramento, Los Angeles, and various other towns and cities have great deals for those who are curious. Since the banking institutions are not in the real estate or automotive sales industrial sectors, they may be in a position to offer any given repossessed property or home at discounted costs to recover money lost in loans. Realize that the procedure for selecting the forfeited items can vary depending on the procedures of the lending institution.
California Repossession Buying Information:
The State of California has numerous banks and credit unions that sell repossessions to the public. Many of the banks sell through dealer only auctions and 3rd party services. Still there are ample deals on California repo sales throughout the state. Buyers can peruse the list of banks on RepoFinder.com and search for local inventory. Some of the more common repossessions in California are cars and real estate. When purchasing from the banks it’s important to inspect any repo closely for any defects. The State of California has strict lemon laws so you may want to check the history of the vehicle via a 3rd party service like Carfax.
General Repossession Buying Information:
When purchasing repossessions remember that there is no dealer involved. This saves you on having to pay a fee or commission but also leaves you with the onus on making sure the vehicle is reliable after the sale. When buying a bank repo car, truck, motorcycle, etc., it’s always smart to have a certified mechanic inspect the engine, electrical system, and drive train. Many newer repo vehicles will still retain the original warranty. You may need to do some vehicle research. On foreclosed real estate purchases (often called REO’s), having an agent represent you would eliminate a lot of the guesswork and help navigate the process.
Types of Repossessions in California:
California’s repo page is a free list of bank and credit union repossession sales featuring items such as cars, trucks, ATV’s, RV’s, boats, motorcycles, real estate, and more.