Foreclosure in 95404>Question Details

vickiobanion, Other/Just Looking in Santa Rosa, CA

what is a trustee sale?

Asked by vickiobanion, Santa Rosa, CA Sat Nov 17, 2012

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Steven Ornellas’ answer
Hi vickiobanion,

Whether you are personally facing foreclosure, or a friend is, you need accurate and complete information and a central location to return with any follow-on questions.

The following highly informative website defines and details the Non-Judicial Foreclosure Process step-by-step which you can find here: http://tinyurl.com/3bzcw5a

Best Regards, -Steve
0 votes Thank Flag Link Sat Nov 17, 2012
In California, the Trustee Sale marks the end of the FORECLOSURE process:
The Bank posts notices in the Newspaper and through the Recorder's Office, that the house will be sold on such-and-such a date.
Usually the Lender ends up with it; if someone bids on it, the Bank will usually bid higher to protect their interests.
If you are interested, you would probably do better to wait for the REO sale; have your Realtor keep and eye out for the LISTING.
0 votes Thank Flag Link Sat Nov 17, 2012
Trustee sale is part of the foreclosure process. It is when the home has been foreclosed on and is sold on the court house steps (cash sale, pay that day, no inspections etc). If it doesn't sell that day it reverts back to the bank that holds the note on it.
0 votes Thank Flag Link Sat Nov 17, 2012
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