[WSBARP] Seller Financing - Non-Judicial Foreclosure Timing Issue

[Mark Anderson]

Dear All:

Scenario: Nonjudicial foreclosure of a deed of trust used in a residential seller-financed transaction.

RCW 61.24.030(8)(g) says that the Notice of Default shall contain a statement "... that the property described in (a) of this subsection may be sold at public auction at a date no less than 120 days in the future...." When I first read that, I interpreted that as meaning the property could be sold at a trustee sale after 120 days had passed following the time the Notice of Default was given.

RCW 61.24.030(8)(k) then goes on to require a prominent statement that includes the following language: "The notice of sale will provide a minimum of 120 days' notice of the date of the actual foreclosure sale."  This would indicate that the 120-day waiting period starts on the date of the Notice of Trustee Sale.

But then I read RCW 61.24.040.  RCW 61.24.040(1) says that the following actions (amongst others) must be taken at least 90 days before the sale:
Record the Notice of Trustee Sale;
Send a copy of the Notice of Trustee Sale to the borrower and grantor as well as any other persons holding a lien against the property; and
Post the Notice of Trustee Sale on the property.
RCW 61.24.040 appears to permit a Trustee Sale after 90 days have passed after giving the Notice of Trustee Sale (and not 120).

How does this apparent disconnect get reconciled?

Thanks in advance for any insights here.

Mark B. Anderson
ANDERSON LAW FIRM PLLC
821 Dock St  Ste 209  PMB 4-12
Tacoma, Washington 98402
+1 253-327-1750
+1 253-327-1751 (fax)
marka at mbaesq.com<mailto:marka at mbaesq.com>
www.mbaesq.com<http://www.mbaesq.com/>
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