[WSBARP] Foreclosure of multiple properties

[Robert McDonald]

Craig

If all three properties are covered under the same deed of trust, then pursuant to RCW 61.24.040(8) The trustee may sell the property in gross or in parcels as the trustee shall deem most advantageous.

Robert W. McDonald |  General Counsel
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"Excellence Starts Here"

108 1st Avenue South, Suite 202
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d. 206.596.4862 | f. 206.274.4902 | c. 206.673.6523
rmcdonald at qualityloan.com<mailto:rmcdonald at quailtyloans.com>

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From: wsbarp-bounces at lists.wsbarppt.com <wsbarp-bounces at lists.wsbarppt.com> On Behalf Of Craig Gourley
Sent: Monday, May 24, 2021 5:29 PM
To: WSBA Real Property Listserv <wsbarp at lists.wsbarppt.com>
Subject: [WSBARP] Foreclosure of multiple properties

Listmates,  I should know this but can't remember. Client has 3 adjoining properties 1 commercial and 2 residential.  Old private financing covers all three parcels with a remaining balance of maybe 25 percent of FMV. For various reasons owner can not refinance. If owner defaults can lender take all three parcels or would they need to auction one at a time? Or one at a time subject to an aggregate bid? Or one at a time until debt is satisfied? Thanks on advance.

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