Attending a Trustee Auction

User Forum Topic
Submitted by urbanrealtor on October 27, 2008 - 6:19pm

Okay.
Maybe its me.

I have been attending trustee auctions lately.

I needed to bone up on them (stop giggling beavis).

I have several all-cash buyers whom I am assisting in preparing for them.

It occurs to me that they are more like graduate seminars than auctions.

There is droning, note-taking, and lots of arrogance.

Is it me?

Seriously, if any one has trustee auction experiences or questions, I would be interested in getting a new discussion going and maybe somebody would like to get a wike or local FAQ going on these (or maybe there is one I don't know about).

Anyone have thoughts on this?

‹ How to get started with foreclosures? Liability upon submitting an offer ›
Arrogance in what way? OT:
Submitted by nostradamus on October 27, 2008 - 11:09pm.

Arrogance in what way?

OT: I'm intrigued by the fact that many listings I see still show some arrogance on the part of he sellers. They should be puckered up for some serious ass kissing right now, not acting like it's 2005. B2VABCOE is fine (and expected), but when they say things like "must use preferred lender" or "seller will not pay for repairs" or "seller to select services" and so on, I wonder what they're thinking.

nostradamus wrote:Arrogance
Submitted by urbanrealtor on October 28, 2008 - 11:22am.

nostradamus wrote:
Arrogance in what way?

OT: I'm intrigued by the fact that many listings I see still show some arrogance on the part of he sellers. They should be puckered up for some serious ass kissing right now, not acting like it's 2005. B2VABCOE is fine (and expected), but when they say things like "must use preferred lender" or "seller will not pay for repairs" or "seller to select services" and so on, I wonder what they're thinking.


What I meant was there were several people talking about investing and talking about getting a good deal. They did so in a way that cantankerous. They may have had some inside track but I did not see that's all.

As far as the other things, the remarks you mention are common. The market has dropped but the seller still has the thing you want to buy. If a buyer does not "verify all before close of escrow" (b2vabcoe), then he is being negligent or has an agent who is negligent. Often those remarks are dictated by the listing agent's broker or the bank who is the seller. As far as seller selecting services, the banks are often unwilling to budge. Usually that is due to them getting a cheap deal by buying escrow (or other) services in bulk. Ironically, they will often come down in price by 20k but not change to an escrow company who will charge 200 bucks more. Weird.