This outline is just a sample of many used by this firm
The terms and conditions are subject to change
Auctioneer’s Outline and Affidavit
Pursuant to the Notice of Trustee’s Sale, recorded in the official records of ____ County, Arizona, a public auction of Trust Property to the highest bidder shall be conducted here at: 101 West Jefferson, east entrance to Maricopa County East Courthouse (employee entrance), Maricopa, Arizona on ___, at ____; or the property address of _________________, or the office of the trustee at ________________.The Trust Property is described as: (legal description) and (Street address)
The Successor Trustee makes this sale without warranty and does not express any opinion as to the condition of title. Any person, including the Trustee or Beneficiary, may bid at the sale. Every bid shall be an irrevocable offer, until the sale is completed. Cash, money orders, certified checks, and cashier’s checks will be accepted if, in the Successor Trustee’s sole discretion such funds are negotiable. However, said money orders or checks must be payable to the Successor Trustee, Diane L. Drain, and the sale will be deemed incomplete until the purchaser pays his bid in form satisfactory to the Successor Trustee and funds are received and negotiated by the Successor Trustee or the Beneficiary.
As a condition of entering a bid, the Trustee shall require every bidder, except the Beneficiary, to provide a ten thousand dollar deposit, in form satisfactory to the Trustee. Every bidder must identify the name of the person or entity that will be named as Grantee on the Trustee’s Deed, no substitutions shall be permitted. Upon acceptance of a final bid the Trustee shall return deposits to all bidders, except the final “successful” bidder. The successful bidder’s ten thousand dollar deposit shall be retained by the trustee and applied to the bid amount at the time the successful bidder or bidders tenders payment as provided for by statute for payment of his/her bid; should such bidder or bidders fail to perform the deposit shall be forfeited and the proceeds shall be applied in accordance with Section 33-812(A). In addition to the forfeiture of the deposit(s), a bidder or bidders who fail to pay the amount bid by him or them is also liable to any person who suffers loss or expenses, including attorney’s fees, as a result of his or their failure to perform. In any subsequent sale of trust property, the Trustee will reject any bid of that person or the entity who submitted the bid or on whose behalf the bidder was performing.
Pursuant to ARS Section 33-811(A), the highest bidder at the Sale, other than the Beneficiary to the extent of his credit bid, shall pay the price bid by no later than 5:00 p.m. of the following day, other than a Saturday or legal holiday. If the highest bidder fails to pay the amount bid by him; the Trustee, in his sole discretion, shall either continue the Sale to reopen bidding or immediately offer the trust property to the second highest bidder for his bid price. If, after the Trustee has offered the property to him, the second highest bidder does not pay his bid price by 5:00 p.m. of the next day, excluding Saturdays and legal holidays, the Trustee shall either continue the Sale to reopen the bidding or offer the trust property to each of the prior bidders on successive days, excluding Saturdays and legal holidays, in order of their highest bid, until a bid price is paid; or if there is no other bidder the Sale shall be deemed to be continued to a time and place designated by the Trustee.
If the Sale is continued, the Trustee shall provide notice of the continuation of the sale by registered or certified mail, to all bidders who provide written notification of their names, addresses and telephone numbers to the party conducting the Sale.
The Trustee has the complete discretion to set specific rules and requirements related to the Trustee’s sale auction. Failure to comply with the rules and requirements will result in the Trustee or her agent refusing to accept the offered bid or bids. The Trustee has the discretion to set minimum and maximum bid increments on all trustee’s sales. A maximum incremental bid of $2,000 applies to all trustee’s sales of less than $250,000 principal.
By participating in any trustee’s sale conducted by our office, or our auctioneer, you are agreeing to comply with all terms of the auction and any requirements set forth herein or at the auction. You are also agreeing that such terms and conditions are binding upon those that you are acting as agent for and upon those who may take title to the property after the sale. If you do not agree with these conditions, then your sole remedy is not to participate in the trustee’s sale.
If the property being sold is subject to a Home Owner’s Association, all bidders are notified that they must make their own investigation and obtain all documents, including but not limited to, the governing documents of the association, its bylaws, rules and declaration of covenants, conditions and restrictions, the name and phone number of the president of the Association; the amount to be paid as assessment and whether or not there are alterations or improvements that violate the CC&R’s, or health or other city/county/state codes or regulations. The Bidder’s failure to obtain this information prior to bidding at the trustee’s sale will not bind the Beneficiary or Trustee to provide that information. By bidding at this sale all bidder’s waive any claim, right or obligation that the Beneficiary or Trustee may have regarding these above referenced items.
A Sale shall not be deemed complete if the Sale is contrary to or in violation of any federal statute because of an unknown or undisclosed bankruptcy. A Sale so held shall be deemed to be continued to a date, time and place announced by the Trustee at the Sale and shall comply with subsection B of A.R.S. 33-810 or if not announced, shall be continued to the same time and place twenty-eighth days later, unless the twenty-eighth day falls on a Saturday or legal holiday, in which event it shall be continued to the first business day thereafter. In the event a Sale is continued because of an unknown or undisclosed bankruptcy, the Trustee shall provide written notification of the continuation, by registered or certified mail, to all bidders who, at the time of sale, provide to the party conducting the Sale written notice of their names, addresses and telephone numbers.
The Trustee now sets the time, date and place for the continuation of a sale should an undisclosed bankruptcy be found: _______.
In order that the Successor Trustee be able to properly record all bids and determine the highest bidder, each bidder is requested to state his/her bid in terms of U.S. dollars, giving the name of the party making said bid.
Should any bidder, entity related to any bidder, or any representative of any bidder, bring an action against the Trustee, or the Trustee’s auctioneer or agent, then such bidder and/or entity bringing such action shall be responsible to the Trustee, or auctioneer or agent, for all fees and costs incurred in defending such action. Participating in the trustee’s sale process is confirmation of all participants agreement to all terms and conditions set forth herein.
The credit bids provided are based on records that may change slightly on the day of sale. Therefore, there may be a slight deviation in the actual amount used to open the bidding. This deviation is not grounds for contesting the trustee’s sale. On behalf of the current Beneficiary ____, the Successor Trustee has been authorized to open the bidding with the Beneficiary’s credit bid of $_____.
The bidding has been stated at $___. The call is now made for additional bids: This is the final call for bids: The bidding is hereby declared closed.
The Successor Trustee declares the Trust Property sold to ________ for his/her high bid of ___ Dollars and ____cents.
Diane L. Drain, Auctioneer and Successor Trustee
Disclaimer: The information in this web site is not intended to constitute legal advice or to create an attorney-client relationship. The information, documents or forms provided herein is intended for general information purposes only and must not be regarded as legal advice. Laws change periodically; therefore the information in this site may not be accurate. It is imperative that you seek legal counsel in order to ascertain your rights and obligations under the applicable law and based upon your specific circumstances.