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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Auction.com Trustee Sales - Legit? Posted by Dond on June 27, 2011 at 3:18 AM In Reply to: Auction.com Trustee Sales - Legit? posted by 427 on June 25, 2011 at 2:59 PM : 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 I attended an auction.com sale a few days ago in California. Attendance was surprisingly light, given the huge amount of advance publicity. All properties were offered as Trustee's sales, and everything that sold went for at least market value, some for much more. I won't go back. Why are auctions held at the courthouse steps. Well, its traditional, and the site rental is cheap. In Southern California, at least, I suspect that if any one major trustee should try to change the location, it would make it more difficult for bidders who would then have to try to get to multiple locations. Competition would drop, and the trustee would lose business. That said, there are a very few sales at other locations, by independant trustees. Dond Follow Ups: Re: Auction.com Trustee Sales - Legit? larrywww 8:23 AM, 06/28/11 (1) Re: Auction.com Trustee Sales - Legit? 427 6:10 PM, 06/28/11 (0) Re: Auction.com Trustee Sales - Legit? 427 3:18 PM, 06/27/11 (3) Re: Auction.com Trustee Sales - Legit? dond 4:42 PM, 06/27/11 (2) Re: Auction.com Trustee Sales - Legit? 427 6:11 PM, 06/28/11 (1) Re: Auction.com Trustee Sales - Legit? Monrovia Dave 10:22 PM, 06/28/11 (0) Post a Followup: Name : E-Mail : Subject : Comments: : : 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 : I attended an auction.com sale a few days ago in California. Attendance was surprisingly light, given the huge amount of advance publicity. All properties were offered as Trustee's sales, and everything that sold went for at least market value, some for much more. I won't go back. : Why are auctions held at the courthouse steps. Well, its traditional, and the site rental is cheap. : In Southern California, at least, I suspect that if any one major trustee should try to change the location, it would make it more difficult for bidders who would then have to try to get to multiple locations. Competition would drop, and the trustee would lose business. That said, there are a very few sales at other locations, by independant trustees. : Dond [ 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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