What is a trustee’s sale, and how does it work?
A trustee is hired by a lender to collect the money they’ve invested in the property by selling it at a public auction. If other people bid at the auction, the lender is compensated. If no one bids on the property, the lender becomes the new owner.
The statutes of the state where your property is located govern both the trustee sale and foreclosure processes. Because not all states have the same laws, it is critical that you speak with a local attorney who is familiar with this area of law. Do not rely on the Internet for accurate information because each person’s circumstance is unique, and the legal and tax advice you should receive will differ considerably.
I offer a consultation regarding the consequences of foreclosure, short sale or deed in lieu of foreclosure.
“This firm is not a tax firm, but we will provide you with referrals to some very good tax attorneys.”
AZ Trustee’s Sale & Foreclosure Video Library
I’ve been involved in thousands of Arizona trustee sales as a creditor’s attorney.
Never proceed with a short sale, deed in lieu of foreclosure, or trustee’s sale (foreclosure) without seeking legal and tax guidance beforehand. Once the process is completed, it is impossible to correct major errors.
Never proceed with a short sale, deed in lieu of foreclosure, trustee’s sale, or foreclosure without seeking legal and tax guidance beforehand.
Once the process is completed, it is impossible to correct major errors. So don’t trust any advice from a realtor, next-door neighbor, or unskilled lawyer. This is your life and your future, therefore you must be well-informed before making any decisions. I don’t say this to terrify you; rather, I’ve seen hundreds of people face catastrophic repercussions that could have been avoided if they had just gotten professional legal and/or tax assistance.
