No more courthouse steps?

[AK]

Looks like the tradition of foreclosure auctions on the courthouse steps may be coming to an end. I always assumed that courthouses were chosen as secure, well-known public locations to ensure transparency and right of access for would-be buyers and foreclosees. Looks like trustee sales may become just a little bit more opaque …

HOUSING: San Diego courthouse boots trustee sales

San Diego County court administrators will end the decades-old practice of selling foreclosed houses on the courthouse steps in downtown San Diego on Aug. 31, administrators said Monday. …

“Out of tradition, these sales have been held on the steps of the courthouse from a time when such sales were conducted by the court,” Michael Roddy, court executive officer, said in a written statement. “That is no longer the case; these are commercial activities being conducted on public property. These sales not only lack proper permits for conducting business in such a manner but they impact court business.” …

When location of a trustee sale changes, state law requires trustees to send new notices to borrowers and re-advertise properties that would be sold at the new site, a practice that costs from $600 to $700 per property, she said.

http://www.nctimes.com/business/article_1f970e4c-6500-51c5-a414-468715c476be.html

[jpinpb]

If it costs 600-700 a property, it may be easier to pull permits to still hold the sales down there.

[jpinpb]

If it costs 600-700 a property, it may be easier to pull permits to still hold the sales down there.

[jpinpb]

If it costs 600-700 a property, it may be easier to pull permits to still hold the sales down there.

[jpinpb]

If it costs 600-700 a property, it may be easier to pull permits to still hold the sales down there.

[jpinpb]

If it costs 600-700 a property, it may be easier to pull permits to still hold the sales down there.

[SD Realtor]

Actually I am not surprised that they have not changed the venue earlier. What happened is that as the trustee sales participation grew over the past few years it did start to be a pain in the butt for the courthouse. Bidders pretty much clogging up the main entry to the courthouse, standing in the planters, etc… Also this is not a municipal event in any way, shape, or form… This is a public auction but there is nothing that requires it to be anywhere special.

Funny that the NCTIMES said at times there could be up to 40 bidders. When we were going last year I am pretty sure there were some days when there would be twice that if not more.

***************

As for the trustees having to reissuees NOTs with the new location, that makes perfect sense. I am not crying for them though because they have a pretty sweet deal and I am sure they will figure out a way to pass the cost on to the loan servicer who will then pass it on to the defaulted homeowner and the cost will be sucked up by the investors as part of the write off.

***************

So it is an end to a tradition but as municipal budgets tighten up those days of freebies are over. I am sure ACE Parking would give a lot up for daily use for trustee sales at a nice little cost.

[SD Realtor]

Actually I am not surprised that they have not changed the venue earlier. What happened is that as the trustee sales participation grew over the past few years it did start to be a pain in the butt for the courthouse. Bidders pretty much clogging up the main entry to the courthouse, standing in the planters, etc… Also this is not a municipal event in any way, shape, or form… This is a public auction but there is nothing that requires it to be anywhere special.

Funny that the NCTIMES said at times there could be up to 40 bidders. When we were going last year I am pretty sure there were some days when there would be twice that if not more.

***************

As for the trustees having to reissuees NOTs with the new location, that makes perfect sense. I am not crying for them though because they have a pretty sweet deal and I am sure they will figure out a way to pass the cost on to the loan servicer who will then pass it on to the defaulted homeowner and the cost will be sucked up by the investors as part of the write off.

***************

So it is an end to a tradition but as municipal budgets tighten up those days of freebies are over. I am sure ACE Parking would give a lot up for daily use for trustee sales at a nice little cost.

[SD Realtor]

Actually I am not surprised that they have not changed the venue earlier. What happened is that as the trustee sales participation grew over the past few years it did start to be a pain in the butt for the courthouse. Bidders pretty much clogging up the main entry to the courthouse, standing in the planters, etc… Also this is not a municipal event in any way, shape, or form… This is a public auction but there is nothing that requires it to be anywhere special.

Funny that the NCTIMES said at times there could be up to 40 bidders. When we were going last year I am pretty sure there were some days when there would be twice that if not more.

***************

As for the trustees having to reissuees NOTs with the new location, that makes perfect sense. I am not crying for them though because they have a pretty sweet deal and I am sure they will figure out a way to pass the cost on to the loan servicer who will then pass it on to the defaulted homeowner and the cost will be sucked up by the investors as part of the write off.

***************

So it is an end to a tradition but as municipal budgets tighten up those days of freebies are over. I am sure ACE Parking would give a lot up for daily use for trustee sales at a nice little cost.

[SD Realtor]

Actually I am not surprised that they have not changed the venue earlier. What happened is that as the trustee sales participation grew over the past few years it did start to be a pain in the butt for the courthouse. Bidders pretty much clogging up the main entry to the courthouse, standing in the planters, etc… Also this is not a municipal event in any way, shape, or form… This is a public auction but there is nothing that requires it to be anywhere special.

Funny that the NCTIMES said at times there could be up to 40 bidders. When we were going last year I am pretty sure there were some days when there would be twice that if not more.

***************

As for the trustees having to reissuees NOTs with the new location, that makes perfect sense. I am not crying for them though because they have a pretty sweet deal and I am sure they will figure out a way to pass the cost on to the loan servicer who will then pass it on to the defaulted homeowner and the cost will be sucked up by the investors as part of the write off.

***************

So it is an end to a tradition but as municipal budgets tighten up those days of freebies are over. I am sure ACE Parking would give a lot up for daily use for trustee sales at a nice little cost.

[SD Realtor]

Actually I am not surprised that they have not changed the venue earlier. What happened is that as the trustee sales participation grew over the past few years it did start to be a pain in the butt for the courthouse. Bidders pretty much clogging up the main entry to the courthouse, standing in the planters, etc… Also this is not a municipal event in any way, shape, or form… This is a public auction but there is nothing that requires it to be anywhere special.

Funny that the NCTIMES said at times there could be up to 40 bidders. When we were going last year I am pretty sure there were some days when there would be twice that if not more.

***************

As for the trustees having to reissuees NOTs with the new location, that makes perfect sense. I am not crying for them though because they have a pretty sweet deal and I am sure they will figure out a way to pass the cost on to the loan servicer who will then pass it on to the defaulted homeowner and the cost will be sucked up by the investors as part of the write off.

***************

So it is an end to a tradition but as municipal budgets tighten up those days of freebies are over. I am sure ACE Parking would give a lot up for daily use for trustee sales at a nice little cost.

[Author]

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