[WSBARP] Relative wants to buy a house going to foreclosure

[Richard Holland]

I don't mean to confuse the issue but where does it say the debtor can't bid?  RCW 61.24.070 says "ANY person" (other than the trustee) may bid at a trustee's sale.

RCW 61.24.070
Trustee's sale, who may bid at - If beneficiary is purchaser - If purchaser is not beneficiary.


(1)    The trustee may not bid at the trustee's sale. Any other person, including the beneficiary, may bid at the trustee's sale.

(2)     The trustee shall, at the request of the beneficiary, credit toward the beneficiary's bid all or any part of the monetary obligations secured by the deed of trust. If the beneficiary is the purchaser, any amount bid by the beneficiary in excess of the amount so credited shall be paid to the trustee in the form of cash, certified check, cashier's check, money order, or funds received by verified electronic transfer, or any combination thereof. If the purchaser is not the beneficiary, the entire bid shall be paid to the trustee in the form of cash, certified check, cashier's check, money order, or funds received by verified electronic transfer, or any combination thereof.


From: wsbarp-bounces at lists.wsbarppt.com [mailto:wsbarp-bounces at lists.wsbarppt.com] On Behalf Of Dave Culbertson
Sent: Friday, June 19, 2015 11:50 AM
To: wsbarp at lists.wsbarppt.com
Subject: [WSBARP] Relative wants to buy a house going to foreclosure

Hello, Listmates.
I know that the debtor whose house is being foreclosed can't bid at the sale. It seems like there could be a rule against a relative or some other "insider" buying the house as well. Is there? If so, what is the cite for the rule?

Thanks in advance.

Best Regards,

Dave Culbertson

The Law Office of Davisson Culbertson, PLLC
19909 Ballinger Way NE
Shoreline, WA 98155

Phone: (206) 478-8134
FAX: (866) 867-7796
dculbertson at culbertsonlawoffice.com<mailto:dculbertson at culbertsonlawoffice.com>

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