If you want to purchase foreclosed commercial property, you have to identify properties that match your specifications. Although foreclosure laws vary somewhat from 1 state to another, the procedure for identifying foreclosed commercial property basically is the same across the nation, such as in California. The primary source of information about foreclosed property is the register of deeds in the county in which the property is situated, based on U.S. Department of Housing and Urban Development.
Proceed to the office of the register of deeds in the county in which the commercial real property is situated.
Provide the staff member on duty in the register of deeds office together with the street address of the business property. The register of deeds can find deed and ownership information using a street address.
Ask the name of this financial institution that currently has title to your property. Once the foreclosure procedure is done, along with the lender assumes ownership of this property, a deed transfers the property to the financial institution.
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