Expert: Dick Dennis - 1/5/2011

Question
Reading one of your answers to a lady about who to make Cashiers
check out to is that still the best way to do it in California? .

Answer
Most trustees when they conduct the foreclosure sales for the lenders in California first require that all bidders at a foreclosure auction to show them "the color of their money." But recently the trustees have been accepting a minimum amount cashier's checks with evidence that the balance of the potential winning bid price, Larry. They will expect to be paid the balance the next day, in most cases.

However, if you have a thought to bid at a foreclosure sale, simply ask the trustee at the company conducting the sale what will be their requirement to bid. Not all trustees conduct a foreclosure sale in the same manner. I wish you well.

Dick Dennis
dixiedee13 @aol.com