[WSBARP] trustees sale question

[Richard Holland]

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

Thanks,

Rich Holland
rich at pnwle.com<mailto:rich at pnwle.com>
733 7th Avenue, Suite 110
Kirkland, WA 98033
425-836-6240  / 425-748-3901 (fax)

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From: wsbarp-bounces at lists.wsbarppt.com [mailto:wsbarp-bounces at lists.wsbarppt.com] On Behalf Of Douglas W. Scott
Sent: Friday, August 19, 2016 11:53 AM
To: WSBA Real Property Listserv (wsbarp at lists.wsbarppt.com) <wsbarp at lists.wsbarppt.com>
Subject: [WSBARP] trustees sale question

Can the second DOT holder bid in the amount of the second at the trustee's sale or do they have to have cash? What rights or ability does the second have, if any?

Douglas W. Scott
Law Offices of Douglas W. Scott
Windermere Building
1810 15th Place NW, Suite 203
Issaquah, Washington, 98027
V.  425.392.8550
F.  425-392-2829
www.davisscottlaw.com<http://www.davisscottlaw.com/>

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