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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Have to cover your winning bid 100%... Posted by Ward-CA- on February 25, 2004 at 8:37 AM In Reply to: Buying at the Courthouse posted by Jesse and Lisa Rodriguez on February 25, 2004 at 8:28 AM : Hey Ward, I was wondering if you could tell me the actual procedure here in San Diego when purchasing at the courthouse steps? I know you have to have a cashiers check but for how much? You never know exactly what the bids will be. Is there a minimum deposit left and then a grace period to pay the rest, say 3 hours or 30 days? Thanks ============ Jesse & Lisa, You need to bring enough money, in the form of Cashier’s Checks, to cover the highest amount you’re willing to bid for the property at the Trustee’s Sale. There’s no grace period after the sale, where you can come back with the rest of your winning bid. You have to have sufficient money to cover your winning bid at the precise moment you make it. Some states, like AZ, allow you time afterwards to come up with your total payment...but CA does not. Follow Ups: Re: Have to cover your winning bid 100%... Jesse and Lisa Rodriguez 9:02 AM, 02/25/04 (3) Re: Have to cover your winning bid 100%... Jerry 8:30 PM, 02/26/04 (1) Doubled up denominations... Ward-CA- 11:26 PM, 02/27/04 (0) Collecting your overbid amount... Ward-CA- 6:33 PM, 02/25/04 (0) Post a Followup: Name : E-Mail : Subject : Comments: : : Hey Ward, I was wondering if you could tell me the actual procedure here in San Diego when purchasing at the courthouse steps? I know you have to have a cashiers check but for how much? You never know exactly what the bids will be. Is there a minimum deposit left and then a grace period to pay the rest, say 3 hours or 30 days? Thanks : ============ : Jesse & Lisa, : You need to bring enough money, in the form of Cashier’s Checks, to cover the highest amount you’re willing to bid for the property at the Trustee’s Sale. : There’s no grace period after the sale, where you can come back with the rest of your winning bid. You have to have sufficient money to cover your winning bid at the precise moment you make it. Some states, like AZ, allow you time afterwards to come up with your total payment...but CA does not. 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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