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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Opening bid is determined by the trustee.. Posted by Ward-CA- on April 29, 2003 at 12:51 AM In Reply to: Trustee Sale question posted by Billy Swanson on April 29, 2003 at 11:55 AM : Hello all, : I'm interested in bidding on a home which is going to be held at public auction (Trustee Sale), do I bid the price that is outstanding or the amount on the loan that hasnt been paid for? : Thank you! : Billy ====================== Billy, The opening bid of the foreclosing trustee is what the bidding will start at. If there are any outside bidders interested in the property they will have to bid higher than the opening bid. The highest bid will take title to the property. So take as much money in cashier's check form that you care to spend for the property, giving consideration to the existence of any liens senior to the foreclosing lien. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : Hello all, : : I'm interested in bidding on a home which is going to be held at public auction (Trustee Sale), do I bid the price that is outstanding or the amount on the loan that hasnt been paid for? : : Thank you! : : Billy : ====================== : Billy, : The opening bid of the foreclosing trustee is what the bidding will start at. If there are any outside bidders interested in the property they will have to bid higher than the opening bid. The highest bid will take title to the property. : So take as much money in cashier's check form that you care to spend for the property, giving consideration to the existence of any liens senior to the foreclosing lien. Optional Link URL: Link Title: Optional Image URL: [ 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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