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Re: Are they going to keep doing them?

Posted by JK (the other JK) on June 26, 2011 at 12:18 AM

In Reply to: Are they going to keep doing them? posted by BIG on June 26, 2011 at 9:36 AM

: : Any thoughts on this? It doesnt seem like it could actually be a trustee sale. A few questions-

: : -Why are trustee sales usually held at the courthouse steps? Why not usually someplace else?

: : -Is the sale final or not at auction.com "trustee sales"? I have heard that there are shill bidders, loud music, lots of distractions. If no one buys the property, does it go back to the bank to become a bank owned REO or does it go to another "Trustee Sale" at the next auction.com auction.

: : -What is the definition of a trustee sale, what elements need to exist to be a trustee sale?

: : To me you need-
: : A bank files a default, then files a notice of trustee sale. On auction day, the sale can take place or not take place. If the sale takes place, it is final. The results of a sale that takes place could be -sold to 3rd party or sold to beneficiary

: : Any thougths appreciated

: This is going to kill the business. I looked over some sales and it seems people have OVER payed bigtme
: on make of the houses that have gone using auction.com.

It's not going to KILL the business. Stupid money ALWAYS gets dried up because stupid money cannot resale for a profit.


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