That latest show on SB 1079 was eye opening. Mike said that the investor doesn’t own the property until its recorded. You mentioned that just because an eligible buyer puts in their intent to bid, it doesn’t mean they will close. There’s no penalty for them to walk away, right?
So if there’s a fire at the property on day 30 where a real estate investor has purchased at trustee sale but an eligible buyer has placed an intent to bid… who is ultimately responsible for the loss? Investor or bank assuming the edible buyer will walk away.