reversing the sale at auction


#1

if you buy a property at the trustee’s auction, the next day can you call the trustee and say that you don’t
want the property and want the refund?. what are the chances that trustee will do that?


#2

HI Rick,
Unless there is some legal reason that would cause the trustee to rescind the sale you have absolutely no recourse. Once you have handed over your cash as the winning bidder there is no going back.


#3

Thanks for the reply. If there is a legal reason who has to bring that to the attention. Is trustee going to do that or as a buyer we have to bring that to the attention?. If trustee know there is a legal reason will they come forward with that after auction sale?


#4

Hi Rick, If the Trustee failed to follow the non-judicial foreclosure process of that state or if they did not have the legal authority to foreclose then they could rescind the sale. Even if the homeowner filed a lawsuit the trustee may fight that suit and still not rescind the sale right away. You may want to hire a really good real estate attorney to review the case.