Bid Chilling


#1

For vets at the steps, this is nothing new … but always interesting/sad to observe. At a trustee sale yesterday, a homeowner’s emissary waived official looking papers, handed them to the auctioneer and pronounced for all to hear; “This is an illegal sale, the auctioneer is committing a felony … there is a priority lien!!!” _?The crier politely retorted; “I have received ‘authorization to sell’ and that is what I am going to do.” ?_And the bidding began. Mostly institutional bidders and no one was ‘chilled’ despite the best efforts by the emissary. I engaged the ‘legal emissary’ (man in his 40s with homeowner nearby) in a short dialogue about the existence of the supposed “priority lien.” Despite his proclamations, there was in fact no such lien. He handed me his ‘chill papers’ and all that was claimed was that the trustee was NOT licensed in the state of California to conduct business, and that evidently was the basis for his claim of “felonious activity.” I explained that the trustee contracts with an auction company to conduct the sale and hence that may allow the trustee to not be licensed in CA. Anyone seen or heard of this claim before (tstee not accredited to do biz in their state?)?


#2

Nevada changed their law to add requirements about who could act as trustee, but I’m aware of no such restrictions in CA.?