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<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">I have conducted many trustee’s sales (RCW 61.24). I’ve never done a partition sale, but perhaps this will be helpful.
<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">I generally require any potential bidders to either: <o:p></o:p></p>
<ol style="margin-top:0in" start="1" type="1">
<li class="MsoListParagraph" style="margin-left:0in;mso-list:l0 level1 lfo1">contact me in advance and provide “certified” funds---i.e. wire the maximum amount they are willing to bid into our trust account prior to the auction, OR
<o:p></o:p></li><li class="MsoListParagraph" style="margin-left:0in;mso-list:l0 level1 lfo1">they need to have a cashier’s check in hand the day of the auction. Most people who show up to these things are experienced investors that know the drill---they typically have a cashier’s
check in the amount of the maximum amount they are willing to spend. If they successfully bid an amount below the amount of their check, I take the check, deposit it into trust, and remit a refund for the difference between the winning bid amount and the check
amount. <o:p></o:p></li></ol>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">However, I do tell everyone before the auction begins that I will provide the winning bidder with one hour to go to the bank and obtain a cashier’s check if they did not have one in hand. If the winning bidder does not come back within
the hour with a cashier’s check, the next highest bid is accepted. I would instruct all bidders to stick around after the conclusion of the auction—just in case the winning bidder does not have a check in hand and does not return with a cashier’s check within
the one hour period. I have never had this scenario actually play out because, as I said, most bidders are experienced at this and know to show up to the auction with a cashier’s check.
<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">I let everyone know the ground rules before I open it up for bidding.
<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><span style="font-family:"Times New Roman",serif">Eric J. Lanza, J.D.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Times New Roman",serif"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Times New Roman",serif"><img width="492" height="223" style="width:5.125in;height:2.3229in" id="Picture_x0020_2" src="cid:image002.png@01D6ADE1.92F5D6C0"><o:p></o:p></span></p>
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<p class="MsoNormal"><b>From:</b> wsbarp-bounces@lists.wsbarppt.com <wsbarp-bounces@lists.wsbarppt.com>
<b>On Behalf Of </b>Michael Brandt<br>
<b>Sent:</b> Thursday, October 29, 2020 10:21 AM<br>
<b>To:</b> WSBA Real Property Listserv <wsbarp@lists.wsbarppt.com><br>
<b>Subject:</b> [WSBARP] Partition Sale Mechanics<o:p></o:p></p>
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<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><span style="font-size:16.0pt;font-family:"Arial",sans-serif">Listmates:<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:16.0pt;font-family:"Arial",sans-serif"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:16.0pt;font-family:"Arial",sans-serif">I am dealing with a partition action that appears to be heading to public auction pursuant to the statute. Can someone experienced with these matters spare me a few moments
to discuss the mechanics of such a sale? Particularly of concern is a bidder showing up, bidding the price way up, and then not being able to pay what he/she bid. How does the referee handle this issue? Thanks.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:16.0pt;font-family:"Arial",sans-serif"><o:p> </o:p></span></p>
<p class="MsoNormal" style="text-autospace:none"><i><span style="font-size:14.0pt;font-family:"Segoe Script";color:#1F497D">Michael D. Brandt<o:p></o:p></span></i></p>
<p class="MsoNormal" style="text-autospace:none"><b><span style="font-size:14.0pt;font-family:"Arial",sans-serif;color:#1F497D">BRANDT LAW GROUP</span></b><span style="font-family:"Arial",sans-serif;color:#1F497D"><o:p></o:p></span></p>
<p class="MsoNormal" style="text-autospace:none"><span style="font-family:"Arial",sans-serif;color:#1F497D">1200 - 5th Avenue, Suite 1950<o:p></o:p></span></p>
<p class="MsoNormal" style="text-autospace:none"><span style="font-family:"Arial",sans-serif;color:#1F497D">Seattle, Washington 98101<o:p></o:p></span></p>
<p class="MsoNormal" style="text-autospace:none"><span style="font-family:"Arial",sans-serif;color:#1F497D">206.441.5739<o:p></o:p></span></p>
<p class="MsoNormal" style="text-autospace:none"><span style="font-family:"Arial",sans-serif;color:#1F497D">206.299.9115 (fax)<o:p></o:p></span></p>
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<p class="MsoNormal" style="text-autospace:none"><span style="font-family:"Arial",sans-serif;color:#1F497D"><o:p> </o:p></span></p>
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