CA Appellate Court holds Trustee to opening bid of $21k instead $220k! Bidder windfall.


#1

Interesting case came down this week. Santa Cruz County property. Bad for Trustee, good for Bidder.

Here’s the case: http://www.courtinfo.ca.gov/opinions/documents/H035400.PDF

Here’s my summary:

http://dirtblawg.com/2011/11/wrong-opening-bid-tough-bidder-gets-benefit-of-trustees-error.html


#2

Wow a three year court battle. That sounds like fun. Realist shows the property is still in the previous owners name. I wonder if the previous owner still lives there or is renting it out? You can see the property here: http://www.redfin.com/CA/Watsonville/434-Winchester-Dr-95076/home/2195253 I’m guessing it is valued in the mid-$100,000s after light remodel. (I know nothing about Watsonville real estate.)


#3

Julie - thanks for posting this. Super interesting case, and enjoyed your blog too.