How long does it take for a TS auction (on avg) to take place from it's published date?! by county?


#1

Sean, Michelle,

Do you any data on the number of days that it takes for property with a published Trustee Sale Date to actually get auctioned!? With all the cancellations…etc, it would be nice to have an average.

Is there an average that we can determine based on past history of auctions say per County or Zip code per quarter?!
Thanx


#2

There is no answer to this. Banks postpone sales because:

  1. They are trying to work w. borrower
  2. They are stayed by a bk. filing.
  3. They don’t want to acquire any more properties.
  4. No one is around to make a decision what to do w. a particular loan.
    They can postpone sales for up to a year. Then they have to renotice the sale.

#3

Hi David,
We looked at the numbers and it appears that on average in CA there are at least 2 postponements from the original sale date to when the property actually goes to sale. This calculates out to be about 68 days. Keep in mind that this is an average and will vary from lender to lender. We do not have the numbers broken down by location.


#4

Does this mean properties which are eventually auctioned are sold an average of 68 days from the date of the originally-scheduled trustee sale?


#5

Hi Rocky, This means that on average most trustee sales are postponed at least twice before they actually are sold at trustee sale.