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TRUSTEE SALE LIST PROVIDER & BIDDING SERVICE

trustee

Buying discounted properties at trustee auction sales is fast becoming one of the best investments in realestate. Be advised that this business is not for the inexperienced or the meek hearted. One of the reasons investors choose to use a company like Artisan Real Estate Group to buy for them at auction is that it takes some of the fear out of the process. There are other advantages as well and we will cover them in this article, but first let's define what a trustee sale is and how they work.

 

When a borrower on a property fails to make payments on a loan (note) the beneficiary (bank) will start a trustee sale to take the property back as collateral for the defaulted note. Usually, this process starts within 90 days after 1st delinquency. However, today, because of the large backload of defaults taking place many notice of trustee sales are being delayed.

Some sales may be delayed as much as a year.   When a bank finally decides to start the trustee sale process it takes 90 days to complete.   However, postponements and cancellations after a trustee sale has been initiated do happen which can delay the actual sale.

The following is a brief synopsis of the trustee's sale process:

01. A Trustee's Sale Guaranty (TSG) Report is ordered from a title company by a trustee. This report will list parties that may have an interest in this property, including all current liens, encumbrances and judgments.

02. After receipt of the TSG, all parties that have an interest, either in the original Deed of Trust or since its recording, have recorded an interest in the Property(junior lien holders) will receive notice of the Trustee's sale. This notice is to give ample warning to any parties that have an interest junior to first Deed of Trust that they may lose that interest once the property is sold at Trustee's Sale.

03. The Substitution of Trustee and Notice of Trustee's Sale is recorded in the County Recorder's Office.

04. The property and courthouse are posted with a copy of the Notice of Trustee's Sale and the same Notice is published for four consecutive weeks in a newspaper of general circulation in the county in which the property is located.

05. There is continuing contact with the title company to ascertain whether or not the IRS has filed a claim or lien, or whether the Trustor has filed a bankruptcy. Should either of these happen, additional procedures become necessary.  If a bankruptcy is filed at any time prior to the completion of the trustee's sale, the sale must be postponed until the Bankruptcy Court's order is received lifting the stay against any actions by any creditors of the Trustor.

06. The Beneficiary will be contacted approximately one week prior to the sale and asked to prepare a credit bid. This credit bid can include all principal, interest, monies expended to keep the senior lien holder current, taxes and costs & penalties permitted by the Note or Deed of Trust. To the beneficiary's credit bid the trustee's and attorney's fees and costs will be added and this amount is usually the opening bid at the time of sale.  This is what is called a "Full Debt Bid". However, that is not always the case and it is precisely the bids that don't follow this rule that we look for when buying at trustee sale.  There are 2 common bids at auction that we look for when acquiring property for our investors. The first is what is called a "specified bid". A specified bid is a lower bid than what is owed. The second type of bid is called a "Drop Bid". A specified bid is called that because the bank specifies the price instead of using the full debt. It is always lower than full debt and if it is lower than current market value, it may be a property to target for acquisition, rehab and flip. The "drop bid" is a bid that drops to a lower amount right before the auction. Technically, the Trustee has an obligation to provide that credit bid to anyone who asks no later than 9:00 am the day before the sale.  Failure to provide the credit bid before 9 AM the prior day requires that the trustee's sale be postponed.  However, big banks do what they want and this does not always happen. When this occurs, a drop bid has taken place.  At Artisan Real Estate Group, we have a special computer program that is designed to catch these jewels so we can inform our investors as soon as the price drops.

07. THE SALE: All bidders that are present will be asked to sign in with their name, phone number and address.   Each bidder must provide the trustee with proof of a $10,000 certified cashiers deposit. At the time of the trustee's sale the successful bidder must endorse the $10,000 check over to the trustee as a non-refundable deposit towards the purchase. The successful bidder must tender the balance due of the winning bid with certified funds by 5:00 p.m. the day after the sale. A Trustee's deed will be issued by mail within 2 weeks to the 3rd party buyer naming them as owner of the property. If no bidders bid, the Beneficiary will take the property for the amount of the credit bid and the Trustee will then issue a Trustee's Deed naming the Beneficiary as owner of the property. Keep in mind that the bidder at the sale takes the property subject to any liens that had priority above the Deed of Trust that was foreclosed. It is important that you know what you are doing in this area as it can cost you your investment. At Artisan Real Estate Group, we use professional title examiners to verify clear title for our investors.

08. The Beneficiary has the right to request that the Trustee postpone or cancel the sale at any time prior to the trustee's sale. The Arizona Revised Statutes require that the Beneficiary notify the Trustee, in writing, should the property be reinstated, paid off, or other agreement reached regarding the cancellation of the sale.

As you can see from the details above the process is somewhat intensive. This is precisely why Artisan Real Estate Group was formed.   Our company helps minimize the risk while maximizing the rewards for the investor. Our proprietary computer program compiles all of the data you need in one list to make sound decisions based on accurate valuations. We do the rest from there! Our service is comprehensive and our company can do as much or little as the investor needs.

We can drive, bid, rehab and sell. We do it all. Full service at a fair price. If you are an investor looking to diversify into solid investments backed by a hard asset we would love to talk you. Contact us today at  This e-mail address is being protected from spambots. You need JavaScript enabled to view it

 

Arizona Residential / Commercial Arizona Real Estate

RESIDENTIAL AND COMMERCIAL REAL ESTATE

Artisan Real Estate Group is a market leader in residential and commercial realestate brokerage. Our 15 years of industry related experience supported by a team of top quality Arizona Realestate agents ensures we have the knowledge, talent and resources to address any problem that can affect your real estate transaction.

Artisan Real Estate Group's experienced professionals will walk you through every step of your real estate transaction.

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Arizona TRUSTEE SALE LIST PROVIDER & BIDDING SERVICE

TRUSTEE SALE LIST & BIDDING SERVICE

Buying discounted properties at trustee auction is fast becoming one of the best investments in realestate. Be advised that this business is not for the inexperienced or the meek hearted. Investors choose a company like Artisan Real Estate Group to buy for them at auction is that it takes some of the fear out of the process.

Find out More...

Arizona NEW HOME BUILDER REPRESENTATION

NEW HOME BUILDER REPRESENTATION

In today's uncertain economic times, staff overhead expenses are a luxury that many companies don't have in the budget. Artisan understands this is putting strains on the Arizona builder. It was with this in mind that we established our New Home Builder Representation division. Our goal is simple. To provide top quality representation in your closeouts, specs, or models at a great price. 

 

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Arizona REO / BANK OWNED PROPERTY DISPOSITION

REO/BANK OWNED PROPERTY DISPOSITION

Are you an asset manager looking for the quick disposition of your REO assets? Artisan Real Estate Group can help. Our team of professional agents is uniquely skilled at the quick valuation, rehab, listing and sale of REO assets. Our team has disposed of assets for Amtrust and JP Morgan Chase quickly and we would love the opportunity to work with you. View our REO Resume

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Arizona REHAB SERVICE FOR REO PROPERTIES AND INVESTORS

REHAB SERVICE FOR REO PROPERTIES AND INVESTORS

Lenders, servicers and investors cannot effectively move their homes if they do not first eliminate the defects and make any needed repairs associated with these properties. Our rehab services division for REO and Investor property was specifically designed to help our clients succeed in quickly and cost effectively cleaning up these properties for disposition.  View our REO Resume

Find out More...

 
RESIDENTIAL AND COMMERCIAL REAL ESTATE

res-commArtisan Real Estate Group is a market leader in residential and commercial real estate brokerage.   Our 15 years of industry related experience supported by a team of top quality agents ensures we have the knowledge, talent and resources to address any problem that can affect your real estate transaction. Artisan Real Estate Group's experienced professionals will walk you through every step of your real estate transaction. We will assess your property and recommend the best course of action to achieve your goals. We know that understanding our client's wants and needs is the foundation of our success!   Because of this, our team constantly strives to deliver the highest quality service to all of our customers.

 

Our experience helps us attain unsurpassed customer satisfaction. If you are thinking about buying or selling anytime in the near future, contact Artisan Real Estate Group first at  This e-mail address is being protected from spambots. You need JavaScript enabled to view it

 

 
NEW HOME BUILDER REPRESENTATION

new_home_repIn today's uncertain economic times, staff overhead expenses are a luxury that many companies don't have in the budget. Artisan understands this is putting strains on the Arizona builder. It was with this in mind that we established our New Home Builder Representation division. Our goal is simple. To provide top quality representation in your closeouts, specs, or models at a great price. You reduce overhead related to employee expenses such as social security contributions, 401K match, training, salaries and benefits because we provide the manpower. Simply put we do all this for you with our staff.

 
REO / BANK OWNED PROPERTY DISPOSITION

reo-bank-ownedAre you an asset manager looking for the quick disposition of your REO assets? Artisan Real Estate Group can help. Our team of professional agents is uniquely skilled at the quick valuation, rehab, listing and sale of REO assets. Our team has disposed of assets for Amtrust and JP Morgan Chase quickly and we would love the opportunity to work with you.

The initial step in the REO property management process is the BPO. Artisan Real Estate Group will provide your financial institution with an accurate opinion of the property condition using comparable properties located in close proximity to the subject property. This will aid in the process of determining whether it is cost effective to acquire the property at trustee sale or discount for quick sale at auction. 

Once your financial institution has acquired ownership of the property at trustee sale, Artisan Real Estate Group will handle the process of current resident eviction, if required. After the property is vacated we will re-key and secure the property to prevent unauthorized entry and vandalism. At this time we will complete a visual inspection of the interior to assess and note damage, safety concerns and detrimental environmental conditions. 

Many properties are in need of repair or minor renovations. Necessary repairs and renovations help properties sell in less time for a higher price. We will make recommendations regarding appropriate repairs and submit a bid for your review. 

Once we have completed any rehab repairs, Artisan Real Estate Group will begin the marketing process. We use several well proven methods of marketing. The most basic is the posting of a For Sale sign on the property. Additionally, we take photos with a professional photographer and list all REO properties on the local MLS database. Periodically we utilize newspapers and magazines for advertisement. Each month we distribute our REO list to investors and owner-occupant buyers as well as post listings on the Internet. Our website and unbelievable SEO optimization generates a large amount of buyer leads for our clients. 

Upon sale of the property, Artisan Real Estate Group will negotiate all bids according to your instructions and keep you fully informed at all times during the negotiations. We will contact you only when the proper sales agreements, addenda and your required paperwork and instructions are completed. Once the sales agreements are accepted by both you and the buyers, we will assist you in the closing process. We can recommend local title companies that we use on a regular basis and give investor discounts to our clients. If you are an asset manager and want to talk about how Artisan Real Estate Group can help your with your asset disposition needs contact us for a consultation.

 
REHAB SERVICE FOR REO PROPERTIES AND INVESTORS

reo-investorLenders, servicers and investors cannot effectively move their homes if they do not first eliminate the defects and make any needed repairs associated with these properties. Our rehab services division for REO and Investor property was specifically designed to help our clients succeed in quickly and cost effectively cleaning up these properties for disposition. Artisan Real Estate Group is capable of providing all services needed from simple trash outs and cleanings to full rehabs. Artisan Real Estate Group understands the need to get the property completed quickly, listed and sold. Our team of construction professionals has over 15 years of experience building and rehabbing property for sale. Our goal is to make your listing shine. Below are some of the services we offer.

Occupancy Checks

  • Drive by to Determine if Property is Occupied

Evictions

  • Cash for Keys
  • Set Outs

Securing Property

  • Re-keys
  • Lock Changes
  • Padlocking  Board Ups (To HUD Specs)
  • Swimming Pool Securing

Code Violation Abatement

  • Bring Property up to Code to Prevent and or Cure Violations Cited by the Governing Authority

Extensive Debris Removal

  • Interior Trash Outs (Property left in broom swept condition)
  • Exterior Debris Removal
  • Hauling Services

Lawn Care and Exterior Maintenance

  • Mowing
  • Mulching
  • Weeding
  • Pruning
  • Fertilizing
  • Power Washing

Emergency Maintenance

  • Services for Emergency Maintenance Provided 24 hours 7 days a week

Janitorial

  • Complete Kitchen Cleaning and Disinfecting
  • Complete Bathroom Cleaning and Disinfecting
  • Vacuuming
  • Mopping
  • Carpet Steam Cleaning
  • Window Cleaning
  • Bleach Cleaning

Rehab Services

  • Electrical
  • Plumbing
  • HVAC
  • Dry Wall
  • Painting
  • Carpet Installation and Removal
  • Tile/Hardwood/Laminate/Linoleum Installation and Removal
  • Appliance Installation and Removal
  • Demolition Construction

Whether you need REO cleanout or complete Investor style rehab services, our team of experts at Artisan Real Estate Group can help.   Our experience will turn your property into a profit generator. This e-mail address is being protected from spambots. You need JavaScript enabled to view it today and we'll tell you more about what Artisan Real Estate Group can do for you.

 
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