If a property is called by the trustee and no one bids and the trustee announces that it will go back to the beneficiary, is it possible to ask the trustee to call the property again, say an hour later after the other properties have been called?
I believe I saw this done last friday at the steps but not certain. Could it be plausible that certain professionals would do use this tactic to try and reduce competition by making the property appear less desirable.
It normally isn’t done because it would be too sensible to re-cry the sale to encourage bidding. How would opening the bidding again reduce competition?
Lenders usually don’t encourage bidding which is why the system is so screwed up. If they really wanted their money they would do anything they could to encourage bidding. They also discourage bidding in Ca. by refusing to announce if the property is going to sale or providing an opening bid prior to sale time. (Law in Az. prevents this by requiring bids be announced the day before.