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Trustee Sale Problem
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ComaWhite
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Registered: 06-10-2009


ComaWhite

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Hi everyone!  Here is the situation:  Made on offer on a short sale first week of June, received Short Sale approved letter October 19th, opened escrow October 20th.  Trustee sale had been previously scheduled for November 6th (this Friday), and since we opened escrow I have been asking my agent "they're going to postponed that right?" to which he has told me that the listing agent is taking care of it.  Thanks to someone here I got the website where you can check on the sales (fidelityasap or something) and every day I go on there and it says the sale date is still November 6th, not postponed, not cancelled, nothing.  This is 4 days away and I am freaking out.  My agent just keeps telling me that the listing agent hasn't recieved a call back from the negotiator or whatever.  What more can I do?  I don't want the bank to buy back the house, we're in the middle of escrow!
Kudos!
11-03-2009 11:31 AM
 

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Re: Trustee Sale Problem
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Anteater
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Registered: 03-20-2008


Anteater

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I won't be too freaked out.  Most likely the sale will be postponed or cancelled, but it won't show up on the web site until after the scheduled sales date.

 

I followed trustee sales for a few months about a year ago.  The majority of the homes scheduled for sale on any particular day are either postponed or cancelled.  It makes planning impossible and eventually I stopped looking at them.

 

Kudos!
11-03-2009 03:55 PM
 

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Re: Trustee Sale Problem
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ComaWhite
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ComaWhite

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I understand, it's just that my agent keeps confirming that it hasn't been postponed.
Kudos!
11-03-2009 04:02 PM
 

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Anteater
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Anteater

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I understand your frustration.  Up til the day before the sale, everyone you talk to will tell you the sale is on.  And the next day, at 8AM, when the auctioneer shows up, he will have a stack of paperwork and he will read out that the sale is cancelled or postponed.

 

That's the reason why I stopped looking at them. :smileyhappy:

 

If you are really concerned, go to the auction and verify that it's either sold or not.  This will give you either the comfort you need, or if you should cancel escrow. :smileyhappy: 

 

Kudos!
11-03-2009 05:21 PM
 

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Re: Trustee Sale Problem
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Bellastia
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Registered: 05-01-2009


Bellastia

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I'm in the same situation sort of, short sale approval letter received 10/30/09 after 8 months of waiting, opened escrow yesterday, bank wants closing to happen by 11/11/2009 (really 11/10/2009 since 11/11/2009 is Veteran's Day).  Trustee's sale scheduled for 11/12/2009. 
Kudos!
11-03-2009 11:20 PM
 

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ComaWhite
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ComaWhite

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I think they do these things intentionally to get a rise out of home buyers.....
Kudos!
11-04-2009 09:24 AM
 

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Bellastia
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Bellastia

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Is your team working to close escrow & record prior to the sale date, was your approval letter conditional to you being able to do that? 
Kudos!
11-04-2009 07:32 PM
 

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ComaWhite
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ComaWhite

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No.  We are supposed to close November 27th and the Trustee sale date is November 6th.
Kudos!
11-05-2009 07:12 AM
 

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