Sale Dates


#1

I love ForeclosureRadar, but I’m wondering if anyone else has had this experience:

I’ve gone to list two different properties that FR showed having a sale date that was a month away. However, with both listings, the sale date was only a few days away…meaning, I wasted my time taking listings that had gone or were going to auction.

Does anyone know how to avoid this? In which cases would the sale date be be different and how do I check before I go out to list? Any input is appreciated!


#2

You may be looking at the PROJECTED sale date. We provide you with a projected sale date when the Notice of Default is filed to tell you when the property could potentially go to trustee sale based on the filing date of the Notice of Default. The actual sale date is not set until the Notice of Trustee Sale is filed. Since the trustee can set the sale date as early as the 21st day from the posting, publishing and recording of the Notice of Trustee Sale you can use the projected date as a guide.
We are in unprecedented times in terms of the number of postponements and the willingness of the lender to postpone the sale for a short sale or a modification. Even though a sale date has been set the lender may be willing to postpone that date if you have an active short sale listing or a pending file with the loss mitigation department. You can check out our short sale report to see which lenders may be easier to work with and willing to postpone a sale. https://www.foreclosureradar.com/short-sale-report.
You will also want to keep in mind that the loss mitigation department and the trustee do not necessarily communicate. If you have an active short sale listing be sure to contact the trustee directly to make sure they are aware of your transaction and to insure the sale is postponed or cancelled.