The loan balance on the property. All accrued interest on the property Attorneys fees All costs associated with the foreclosure process.

Regardless of the above, in order to bid Santa Clara County bank owned house the buyer must also have a cashier check in hand for the full amount of the bid. If the buyers are successful then they will be offered the Santa Clara County bank owned house in its condition; complete with tenants who need evicting and liens secured on the property.

Because of all the difficulties and lack of concrete benefits in buying at foreclosure, most people who want to buy a foreclosed property will go through the REO route.

The REO method of purchase offers much more benefits, incentives and less stress than the foreclosure method.

When a bank or Loan company takes back a property they then have Santa Clara County bank owned house. The role of the bank is to maximize the wealth of its shareholders. If the foreclosed property can be sold to release cash to invest, then this is the main motive for the bank or Loan Company; sell the property and invest the cash.