CA - Trustee's Sale

Posted by Grace on December 03, 2002 at 04:32:41:

I am looking into purchasing a house at a Trustee's Sale. Many of the properties listed at the sale has a low minimum bid. The minimum bid is usually higher than the loan amount + the delinquent amount. One thing I did notice is that sometimes the minimum bid is way under the original assessed value of the property. Would the trustee's sale be for a second trust deed only? It does not seem realistic for a trustor to be giving up a property that is worth $400,000 for only $50,000 at a trustee sale. The trustor can just sell his house in the market for $100,000 and resolve the foreclosure problem. What research can I do to ensure that there is nothing wrong with the title or something? Or to ensure that this is not a trustee's sale on a second only and the first will be auctioned off at a later time? Would the auction company disclose this information during the auction? I appreciate any ideas you can give me. Thanks.

Follow Ups:

• Learning to research the title of property. (url) - Ward-CA- 10:28:32 12/03/02 (1)
  • Re: Learning to research the title of property. - Michael 07:16:54 09/21/05 (0)

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: I am looking into purchasing a house at a Trustee's Sale.  Many of the properties listed at the sale has a low minimum bid. The minimum bid is usually higher than the loan amount + the delinquent amount.  One thing I did notice is that sometimes the minimum bid is way under the original assessed value of the property.  Would the trustee's sale be for a second trust deed only?  It does not seem realistic for a trustor to be giving up a property that is worth $400,000 for only $50,000 at a trustee sale.  The trustor can just sell his house in the market for $100,000 and resolve the foreclosure problem.  What research can I do to ensure that there is nothing wrong with the title or something?  Or to ensure that this is not a trustee's sale on a second only and the first will be auctioned off at a later time?  Would the auction company disclose this information during the auction?  I appreciate any ideas you can give me.  Thanks.


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