[WSBARP] Post FC sale issue

[Rick Hoss]

For a nonjudicial foreclosure 61.24.050(1) says if the trustee accepts a bid
then the sale is final as of the date of acceptance of bid so long as the
trustee's deed is recorded within 15 days. 

If no trustee deed is recorded within 15 days then the sale isn't final.

If the sale is voided for some reason the trustee has to send Notice of
Rescission of Trustee's Sale, but this doesn't have to be recorded.

 

If the sale is discontinued then the trustee records a notice of
discontinuance under 61.24.090

 

 

From: wsbarp-bounces at lists.wsbarppt.com
[mailto:wsbarp-bounces at lists.wsbarppt.com] On Behalf Of Richard Holland
Sent: Wednesday, July 20, 2016 9:15 AM
To: WSBA Real Property Listserv
Subject: [WSBARP] Post FC sale issue

 

So here's an odd one.  I just was contacted by a client who wanted to know
what happens in the following situation:

 

There is a foreclosure.  (Not sure if it was judicial or not but I have
requested all documentation they can give me).

There is a sale.

Confirmation of sale is provided to the client - but I am not sure if that
was an email or an actual document.

No foreclosure deed (again, not sure if Sheriff's or Trustee's at this
point) is ever even drafted let alone recorded because "they closed up
shop".  'They' apparently being the law firm.

 

I am getting documentation, as I said, but I am wondering if there is a time
limit, particularly with a trustee's sale, within which the trustee MUST
convey.  We are talking months have passed.  And if the 'worst' applies,
does the entire FC have to be restarted?

 

Sincerely,

 

Richard L. Holland

 

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733 7th Avenue, Suite 110

Kirkland, WA 98033

425-836-6240  / 425-748-3901 (fax)

 

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