who are the checks made out to if I am successful in bidding at an auction ??

Asked by Cwl, Los Angeles, CA Fri Aug 5, 2011

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6
Jack Mitchell, Agent, Los Angeles, CA
Fri Aug 5, 2011
If you are asking this question, you should not be bidding at an auction.
2 votes
Shel-lee Dav…, Agent, Rolling Hills Estates, CA
Fri Aug 5, 2011
Depends on the auction. If you are bidding at the trustee sale, on the courthouse steps, then they have to be cashiers checks made payable to cash or to you (and you endorse them to cash). If you are attending a private auction, then follow the specific instructions for that auction. Often the private auction houses will even let you put your deposit on a credit card.

My recommendation is, before you try buying at an auction attend a few. See how things are done. Figure out if you have the ability to do the due diligence on your own or if you have to hire someone to help you out. Then, and only then, put your money on the line. Dare to Dream.

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1 vote
Jolanta Jonu…, Agent, Los Angeles, CA
Fri Aug 5, 2011
Hello
Are you planing to go to the Trustee auction? You should have in Trustee Auction cashier checks who are made out to yourself.
0 votes
Leah Henders…, , Columbia, SC
Fri Aug 5, 2011
If this is a municipality they want payment at the time of successful bid usually in money order or cashier's check. They will answer any questions ahead of time. Generally auction companies want cashier's checks for deposit once a successful bid is made. However, you generally have the standard thirty days to close. In that time you can arrange financing or provide funds to the closing agent. Please check the auction website. That way you know ahead of time how much is the appropriate amount of money down upon auction end. If the bid amount is less then $10,000 they may require payment on the day of sale.

Read their terms and conditions carefully as bidding and not purchasing is a significant risk.

Good luck bidding.
0 votes
Armik Avedis…, Agent, Glendale, CA
Fri Aug 5, 2011
Normaly to the Actioner, or there Escrow Title company
0 votes
Ron Thomas, Agent, Fresno, CA
Fri Aug 5, 2011
You are talking about a CASHIER's CHECK;
and you would have to ask the people who are running the Action.
0 votes
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