![]() |
Foreclosure Forum |
|
Similarities with AZ. Trustee Sales..In Reply to: arizona auction posted by Tom on July 07, 2003 at 2:05 PM : We live in California and are familiar with the California foreclosure process. We are interested in attending a sale in Arizona. : Is the process similar to California law? : More specifically, are the junior liens and association liens : Are there any other Arizona laws we need to be aware of? : Thanks for any help, =•=•=•=•=•=•=•=•=•=•= Tom, Yes, the trustee sales in CA and AZ are quite similar. For example, the trustee’s sale of a senior lien wipes off all junior liens in both states—even if it’s an IRS lien. And to keep on top of the upcoming sale you need to stay in contact with the foreclosing trustee. One differeence is in AZ all you have to take to the trustee’s sale is $1,000 dollars. If you make the highest bid and it’s more than $1,000, then you have until the next day to come back with the rest of the money. If you don’t, you forfeit your $1,000 bucks. Another difference in AZ is that you can buy a copy of the TSG (trustee’s sale guaranty) from the foreclosing trustee for only $40.00! Can’t do that in California! The TSG is a super duper title report. Follow Ups:
Post a Followup:
|
Information provided by this website is for informational purposes only and is not a substitute for professional advice. Please consult your investment advisor and/or attorney before entering into any transaction.
Copyright © 1997-2003, InnoVest Resource Management
http://www.foreclosureforum.com
InnoVest Resource Management, 4569-A Mission Gorge Place, San Diego CA 92120-4112
(619) 283-5444, Fax (619) 283-5455