I have never been to a trustee sale or helped any of my clients for trustee sale. I have had experience in aution sales but that is not that hard because the property is already forclosed where as Trustee sale is one step before foreclosing.
Any of you have any experience and care to share what things need to keep in mind before going for a bid in trustee sales. I have few clients who are searching for trustee sales.
I think it will be better if the property is vacant then its not hassele to evict. How about past dues?
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the liens are factored into the price. When other experienced bidders stay away from a property if a lone bidder gets it and others chuckle it is mostly over the additional liens that sucker ended up paying.
There is not a lot of margin left as most sales are very close to retail price. The unknowns should be interior upgrade and how much one has to pay to stay modern.
Several t co's are including trustee sales across CA and AZ.
Run comps and then set your max bid.
The auction goes very fast, and there are usually not a lot of people bidding. Most of the homes goes back to the bank as an REO. The auction here is held twice a day/5 days a week - rain or shine, except for holidays.
There is no preview on any of the properties. So the buyers really have to know the area, market value, exterior condition and have funds for repairs.