[WSBAPT] Minimum bid for Trustee Sale

[Jim Doran]

Hello Listies:

 

How do you set the minimum bid for a foreclosure trustee sale?  

 

There are the standard fees that are added to the principal and interest and
late fees. Those are things like the cost of title search, publication,
filing and service fees, property taxes, attorney's fees, trustee's fees,
and a few other out of pocket expenses. 

 

In this case the beneficiary has had to deal with a long drawn out
bankruptcy and difficult negotiations that failed.  Can the beneficiary
charge all his attorney fees to the minimum bid?

 

Can the beneficiary mark the minimum bid up to whatever amount he wants or
are there some rules or statutes about how we set the minimum bid?

 

Thank you. 

 

James R. Doran

Attorney at Law

100 E. Pine Street - Suite 205

Bellingham, WA 98225

(360)393-9506

jim at doranlegal.com <mailto:jim at doranlegal.com> 

www.doranlegal.com

 

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