Tuesday June 24,2008 108 Degrees in the Shade! Dry Heat!

10 AM and 2PM every day in the Courtyard of 201 W. Jefferson St. - The home of our illustrious Sheriff and the Superior Court House -- 300 to 500 Properties go through the Trustee Process.

Good way to get a house cheap, You say -- well, yes, no, and maybe. Maybe not today but next time, or maybe when the Bank owns the propery and your favorite Real Estate Agent takes you through the REO buying process.

Here is how the Trustee Sale process works in Arizona -- each state is a little different. Today, there were 4 auction companies auctioning properties. They take turns presenting and making the declarations. Today, most of the properties were deferring sale to a later date; Properties had a low bid price too high for the 15-20 people bidding.  I attended the 2-3:30 auction and out of 200 or so properties - maybe 10 actually went for auction and they went for amount of the indeptedness on the first or slightly lower.

The properties that had too high a open bid were sent back to the Trutee to be turned over to the Bank for sale by one of us Real Estate Brokers.

If you really want to buy a house at a Trustee Sale, first you have two choices.

1l Worst Choice is :Either you or your real estate agent tries to bid on the property. -- Must have ceriified funds of $10,000 check. All monies are due and payable by the end of the following business day.

2. Best Choice is Hire a Pro in the know that works the Trustee Sales every day. These individuals research( they have people do it for them) all the properties and look for value. The fellow I met charges $3,000 for a successful bid. - Money returned immediately if not successful. --

I am working to develop an investment group to partner with this fellow to develop properties purchased at the right price. --

If you are interested in Buying at Trustee Sales - Contact Me For a Free Confidential Consultation!