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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Problem at Riverside Auction / Any thoughts Ward? Posted by Rick, the Probate Guy on March 11, 2010 at 12:41 AM In Reply to: Problem at Riverside Auction / Any thoughts Ward? posted by RIVERSIDE INV on March 11, 2010 at 8:03 AM >see below: : I ran into something I haven't experienced before. At the 10am auction in Riverside yesterday there were 40-60 people present from about 9:45 until I left at 2:30pm. 4-5 of us were interested in a particular property and repeatedly asked Angela the auctioneer for an update. Finally at 2pm she got a call that the auction had taken place that morning at 10am at the courthouse. Angela asked all present (about 50 people) if anyone had witnessed the other auction and not one person had seen it. Apparently the trustee (Lenders TD Service) sent their own auctioneer to the courthouse and even though the property was listed on Fidelity's website they had their auctioneer cry the sale. My questions are: : Can a trustee send their own auctioneer to the sale? >A: Sure. Sometimes they'll send an officer of the corporate trustee just to see that it's done torrectly, and to satisfy their client (lender or loan servicer) : How loud do they have to cry the sale? Is it possible that 40-50 people were there and no one saw the auctioneer? (it's not a very big place) >A: Do you mean 'how many decibels?' I would imagine that it must be loud enough for a person standing within a few feet to hear. What is the sound of one hand clapping? : Do I have any recourse in getting them to re-auction the property? >A: You'll have to prove that the sale did not happen or was irregular, and that you were damaged. Hard to show the latter when you don't even know that you would have been high bidder. : : If the property sold for a penny over then a $500K house sold for approx $200K. I don't want to believe that something fishy happened I just don't know how they slipped under all of our noses and auctioned the property with no witnesses... >A document what you can. Just remember that someday you may want that same trustee to err in your favor. Is it worth the fight? : Thanks. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : >see below: : : I ran into something I haven't experienced before. At the 10am auction in Riverside yesterday there were 40-60 people present from about 9:45 until I left at 2:30pm. 4-5 of us were interested in a particular property and repeatedly asked Angela the auctioneer for an update. Finally at 2pm she got a call that the auction had taken place that morning at 10am at the courthouse. Angela asked all present (about 50 people) if anyone had witnessed the other auction and not one person had seen it. Apparently the trustee (Lenders TD Service) sent their own auctioneer to the courthouse and even though the property was listed on Fidelity's website they had their auctioneer cry the sale. My questions are: : : Can a trustee send their own auctioneer to the sale? : >A: Sure. Sometimes they'll send an officer of the corporate trustee just to see that it's done torrectly, and to satisfy their client (lender or loan servicer) : : How loud do they have to cry the sale? Is it possible that 40-50 people were there and no one saw the auctioneer? (it's not a very big place) : >A: Do you mean 'how many decibels?' I would imagine that it must be loud enough for a person standing within a few feet to hear. What is the sound of one hand clapping? : : Do I have any recourse in getting them to re-auction the property? : >A: You'll have to prove that the sale did not happen or was irregular, and that you were damaged. Hard to show the latter when you don't even know that you would have been high bidder. : : : : If the property sold for a penny over then a $500K house sold for approx $200K. I don't want to believe that something fishy happened I just don't know how they slipped under all of our noses and auctioned the property with no witnesses... : >A document what you can. Just remember that someday you may want that same trustee to err in your favor. Is it worth the fight? : : Thanks. [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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