An Investor's Guide To Trustee Sales | FortuneBuilders
Abstract
What is a Trustee Sale? A trustee sale is the sale of real estate property through a public auction. In most cases, trustee sales are only possible because homeowners are in some financial crisis, such as a homeowner defaulting on their mortgage payments and the property going into foreclosure. Note, of course, that trustee sales are not the same things as "Trust sales," which involve courts and revolve around properties from estates going through the probate process. Auction Once the auction's ducks are in a row, the trustee sale can take place. If no one bids at the trustee sale, the home up for sale becomes an REO or real estate-owned property, and ownership transfers to the lender. Trustee Sales: Pros and Cons Determining whether trustee sales are a good idea can be tricky for new investors. As you acquire more wealth and experience, you can more reliably use trustee sales to scoop up low-priced properties and add them to your portfolio.
