ReconTrust Trustee Deed, Contacting Previous Owner

Foreclosure Investing
1

Hi All,

I recently purchased a home at a California Trustee Sale from ReconTrust (Bank of America sub.). The sale was over a week ago and I have yet to receive a trustee deed from the sale. Does anyone have suggestions for contacting ReconTrust? From my auctioneer I received a phone # that goes to one person’s voice mail, but my messages have not been returned. I understand I have only 14/15 days to record the deed such that it would be retroactively valid to the date of the sale.

Do I gain anything by waiting until my trustee deed is recorded to contact the previous owner (who may still be occupying the home) to propose cash for keys? For example, if the person decides to file for bankruptcy before my trust deed is recorded, does the order of events give the homeowner any priority or mean that an eviction process might take longer? I understand that it is advisable to wait until the trust deed is recorded to file a 3 day notice to quit.

I recall reading in one of Sean’s reply posts that he typically contacts the owners after the sale but waits until the deed is recorded to begin legal action when necessary.

Thanks in advance for any help.

2

Recontrust usually takes about 10-11 calendar days to process the Trustee Deed, although it depends on which day of the week your sale was and whether it was Auction.com or a courthouse trustee sale. Then they will send out your Trustee Deed via FedEx. They are one of the better trustees for getting your Deed out. They do not really want to spend time answering the phone if it hasn’t been at least 12-13 days since your sale.

Every situation is different for contacting occupants in the foreclosed property. Definitely you should go to the house in the early evening to figure out what type of occupants are residing in the property. If it is vacant you need to quickly change the locks. If it is occupied you should start a discussion with the owners or tenants.

3

Thank you GJ. Very helpful.