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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Collecting your overbid amount... Posted by Ward-CA- on February 25, 2004 at 6:33 PM In Reply to: Re: Have to cover your winning bid 100%... posted by Jesse and Lisa Rodriguez on February 25, 2004 at 9:02 AM : So if the amount is going to be 150,000 and I bring a check for $200,000. How do I get the difference if the winning bid is $175,000? ===================== Jesse & Lisa, Most foreclosure auctioneers are independent contractors who act as agents of the foreclosing trustee. For approximately $35.00 they will either post the Notice of Trustee’s Sale on a public bulletin board, or they will cry a sale or postponement, etc. So when the auctioneer receives your $200K check in payment of your $175 K winning bid you are owed $25K in excess funds by the trustee. So when the Trustee mails you your Trustee’s Deed to record they will enclose a check for your overbid amount of $25K. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : So if the amount is going to be 150,000 and I bring a check for $200,000. How do I get the difference if the winning bid is $175,000? : ===================== : Jesse & Lisa, : Most foreclosure auctioneers are independent contractors who act as agents of the foreclosing trustee. For approximately $35.00 they will either post the Notice of Trustee’s Sale on a public bulletin board, or they will cry a sale or postponement, etc. : So when the auctioneer receives your $200K check in payment of your $175 K winning bid you are owed $25K in excess funds by the trustee. So when the Trustee mails you your Trustee’s Deed to record they will enclose a check for your overbid amount of $25K. 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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