Trustee, TD Service Co - Do they discount at the court house steps?


#1

I have some interest in vacant lot that will be auctioned off on Monday, October 26th. The trustee is TD Service Co. and the lender is Wells Fargo Bank and the trustee sale (# F391688-CA). Do you know if TD Service Co. discounts the outstanding loan balance at the court house steps in terms of the opening bid? I contacted TD Service Co. directly and they said the opening bid will be known tomorrow (i.e. Friday) or Monday the day of the auction.

I would appreciate some additional information.


#2

The trustee’s don’t set the opening bids, the lenders do. We certainly see many cases where Wells discounts significantly.