Q. What is a Trustee Sale?
A. A Trustee Sale is a foreclosure sale conducted by a trustee under the stipulations of a Deed of Trust and is conducted via a public auction that is open to all bidders. The Property is either sold to a third party bidder at the auction or reverts back to the beneficiary (Bank or Lender) as a Real Estate Owned (REO) Foreclosure under the Deed of Trust. Trustee sales present unique opportunities for investors to buy homes at wholesale prices.

Q. How are Auction.com Trustee Sales different than other trustee sales?
A. Auction.com has taken Trustee Sales to a new level. Auction.com Trustee Sales are superior in many ways including: More properties pre-negotiated low starting bids, property and title information online at no cost, a much much higher percentage of properties sold to bidders and our auctions are conducted by professional and licensed auctioneers.

Q. When does the Trustee Sale auction occur?
A. The specific date, time, and location of each auction can be found under the calendar of events at auction.com/trustee. Larger counties will have weekly auctions while others will be held every two weeks. All sales shall be conducted pursuant to a power of sale under a deed of trust and shall be conducted at the time and place specified in the Trustee's notice of sale, unless otherwise postponed, cancelled or modified in accordance with applicable law.

Q. How long will each Trustee Sale auction last?
A. Generally, we are able to auction approximately 20 properties per hour, so things will be moving at a rapid but manageable pace for our bidders. There may be some instances where the process is done more quickly and instances where it may be slower. Please allow yourself sufficient time to register or check in on auction day and to attend our auction event so that you are able to take advantage of all the opportunities presented.Registering online at www.auction.com in advance of auction day will speed up the registration process for you. Our auctions typically run longer that other trustee sales because of the large number of properties we bring to auction and ultimately sell to buyers.

Q. Do I need to register to bid at the auction?
A. All prospective bidders are encouraged to register for the auction online at auction.com or you must register on auction day at the auction venue, and show sufficient funds to bid. Registering in advance will help save you time the morning of the auction and we highly recommend it.

Q. Can I bid online?
A. Although we do recommend that you register online, online bidding is not available for a Trustee Sale auction in California.

Q. What do I need to bring to the Trustee Sale auction?
A. You must bring cash or cash equivalent sufficient to pay for all of your purchases at the auction. Permitted forms of checks should be payable to yourself or Auction.com, LLC. You must also bring a Government photo ID, such as a driver's license or passport. In addition, if you are bidding on behalf of another party, LLC, Corporation or Trust, please bring all relevant documents (entity formation documents, resolutions, power of attorney, etc.)

Q. Is a buyer's premium added to the winning bid amount at a Trustee Sale Auction?
A. No, a buyer's premium does not apply for these specific auction events.

Q. Can I inspect the Property?
A. No, as these Properties can be occupied, prospective bidders may not trespass on the Property, disturb the occupants, or contact the borrowers to obtain information about the Property. However, detailed Property and title information is available on the Property detail page of each asset to help you do your research.

Q. Will financing be available?
A. No, financing is not available for Trustee Sale auction events. All sales must be paid for in full on auction day, in cash or cash equivalent. This is a great opportunity for buyers who can leverage cash in today's market. Amazing deals can be had at these auctions. Auction.com has reinvented the Public Trustee Sale Auction so all investors, seasoned and novice alike, can take advantage of this buying opportunity.

Q. What if I have a real estate agent or broker?
A. Real estate agent or broker participation is not offered in Trustee Sale auctions, we do however welcome participation in our REO and Commercial auctions.

Q. What if I am the winning bidder?
A. The winning bidder must pay the amount of with winning bid (referred to as the "Winning Bid Amount" or the "Purchase Price") in full to the Auctioneer, upon the close of bidding for that specific Property at the auction.

Q. What is IRS Form 8300 and why must I provide the information?
A. The IRS requires the completion of Form 8300 in certain circumstances where Auctioneer or the Trustee receives cash as defined by law. The winning bidder at a Trustee Sale auction may be required to provide the information necessary to complete the form. To facilitate the process, Form 8300 and its instructions are provided under the details link of each property. To expedite the process on auction day, you may complete the necessary information on behalf of the bidder (it is a fill-in form), print it and provide to Auction.com upon request.

Q. What if the amount of my cashier's checks exceeds the Purchase Price?
A. Excess funds will be returned in no less than 10 business days from the Trustee to the winning bidder. Many investors bring multiple cashier's checks in various amounts to ensure paying as close as possible to the purchase price.

Q. Will the Property be free and clear of all liens?
A. No, all Properties will be sold as is, where is with all faults and limitations. All prospective bidders are encouraged to conduct their own due diligence and investigate all matters relating to the Properties that they are interested in purchasing. It is recommended that you seek independent advice to perform your due diligence and to fully understand the foreclosure process and trustee sales in general in advance of the auction. Doing your homework pays off! Look at the title and Property information provided online on the Property detail pages and determine the value of the Property based on whether you intend to live in it, rent it or sell it for a profit.

Q. What happens if a Property is cancelled or postponed?
A. The sale of a particular Property may be cancelled or postponed for many reasons prior to the start of bidding at the auction including at the direction of the Trustee or due to a borrower's right to reinstate the loan, and thus avoid foreclosure. There is no guarantee that a particular Property will actually be auctioned. As such, the sale may be cancelled or postponed past the date initially noticed for sale, so prospective bidders should check back often for updated sale date information. All cancelled or postponed Properties will be indicated on www.auction.com and will also be announced on the day of the auction.

Q. Will I receive a contract of sale?
A. The winning bidder will receive a Certificate of Sale/Receipt confirming the sale on auction day following the payment of all the necessary funds.

Q. What is the difference between a Credit Bid and the Opening Bid?
A. Under the law, the beneficiary under the deed of trust may place a bid or bids (directly or through Auctioneer) during the auction called a "credit bid". Such credit bids can be made up to the total amount due the beneficiary, including the Trustee's fees and expenses. The "Opening Bid" is an initial credit bid to be placed at the auction, but does not represent the maximum credit bid that may be placed on behalf of the beneficiary.

Q. When can I expect to receive the Trustee's Deed?
A. Usually the Trustee's Deed (Trustee Deed of Sale) will be prepared and sent to the winning bidder within 10 business days following the auction.

Q. What is a Trustee Sale?
A. A Trustee Sale is a foreclosure sale conducted by a trustee under the stipulations of a Deed of Trust and is conducted via a public auction that is open to all bidders. The Property is either sold to a third party bidder at the auction or reverts back to the beneficiary (Bank or Lender) as a Real Estate Owned (REO) Foreclosure under the Deed of Trust. Trustee sales present unique opportunities for investors to buy homes at wholesale prices.

Q. How are Auction.com Trustee Sales different than other trustee sales?
A. Auction.com has taken Trustee Sales to a new level. Auction.com Trustee Sales are superior in many ways including: More properties pre-negotiated low starting bids, property and title information online at no cost, a much much higher percentage of properties sold to bidders and our auctions are conducted by professional and licensed auctioneers.

Q. When does the Trustee Sale auction occur?
A. The specific date, time, and location of each auction can be found under the calendar of events at auction.com/trustee. Larger counties will have weekly auctions while others will be held every two weeks. All sales shall be conducted pursuant to a power of sale under a deed of trust and shall be conducted at the time and place specified in the Trustee's notice of sale, unless otherwise postponed, cancelled or modified in accordance with applicable law.

Q. How long will each Trustee Sale auction last?
A. Generally, we are able to auction approximately 20 properties per hour, so things will be moving at a rapid but manageable pace for our bidders. There may be some instances where the process is done more quickly and instances where it may be slower. Please allow yourself sufficient time to register or check in on auction day and to attend our auction event so that you are able to take advantage of all the opportunities presented. Registering online at www.auction.com in advance of auction day will speed up the registration process for you. Our auctions typically run longer that other trustee sales because of the large number of properties we bring to auction and ultimately sell to buyers.

Q. Do I need to register to bid at the auction?
A. All prospective bidders are encouraged to register for the auction online at auction.com or you must register on auction day at the auction venue, and show sufficient funds to bid. Registering in advance will help save you time the morning of the auction and we highly recommend it.

Q. Can I bid online?
A. Although we do recommend that you register online, online bidding is not available for a Trustee Sale auction in Arizona.

Q. What do I need to bring to the Trustee Sale auction?
A. You must bring $10,000.00 in cash or cash equivalent as a deposit for each property you intend to purchase at the auction. The remainder of the Purchase Price must be received by the Auctioneer or Trustee no later than 5:00 pm Mountain Standard Time on the business day following the auction. Permitted forms of checks should be payable to yourself or Auction.com, LLC. You must also bring a Government photo ID, such as a driver's license or passport. In addition, if you are bidding on behalf of another party, LLC, Corporation or Trust, please bring all relevant documents (entity formation documents, resolutions, power of attorney, etc.)

Q. Is a buyer's premium added to the winning bid amount at a Trustee Sale Auction?
A. No, a buyer's premium does not apply for these specific auction events.

Q. Can I inspect the Property?
A. No, as these Properties can be occupied, prospective bidders may not trespass on the Property, disturb the occupants, or contact the borrowers to obtain information about the Property. However, detailed Property and title information is available on the Property detail page of each asset to help you do your research.

Q. Will financing be available?
A. No, financing is not available for Trustee Sale auction events. All sales must be paid for in full on auction day in cash or cash equivalent. This is a great opportunity for buyers who can leverage cash in today's market. Amazing deals can be had at these auctions. Auction.com has reinvented the Public Trustee Sale Auction so all investors, seasoned and novice alike, can take advantage of this buying opportunity.

Q. What if I have a real estate agent or broker?
A. Real estate agent or broker participation is not offered in Trustee Sale auctions, we do however welcome participation in our REO and Commercial auctions.

Q. What if I am the winning bidder?
A. The Winning Bidder must pay the balance of the Winning Bid Amount (the Winning Bid Amount less the required $10,000.00 deposit) in full to the Auctioneer or Trustee no later than 5:00 pm Mountain Standard Time on the day following the Auction. If the balance of the Winning Bid Amount is not received by the Auctioneer or Trustee by the time specified at the place specified by the Trustee, the Winning Bidder's deposit shall be forfeited and treated as additional sale proceeds in accordance with Arizona Revised Statutes.

Q. What is IRS Form 8300 and why must I provide the information?
A. The IRS requires the completion of Form 8300 in certain circumstances where Auctioneer or the Trustee receives cash as defined by law. The winning bidder at a Trustee Sale auction may be required to provide the information necessary to complete the form. To facilitate the process, Form 8300 and its instructions are provided under the details link of each property. To expedite the process on auction day, you may complete the necessary information on behalf of the bidder (it is a fill-in form), print it and provide to Auction.com upon request.

Q. Will the Property be free and clear of all liens?
A. No, all Properties will be sold as is, where is with all faults and limitations. All prospective bidders are encouraged to conduct their own due diligence and investigate all matters relating to the Properties that they are interested in purchasing. It is recommended that you seek independent advice to perform your due diligence and to fully understand the foreclosure process and trustee sales in general in advance of the auction. Doing your homework pays off! Look at the title and Property information provided online on the Property detail pages and determine the value of the Property based on whether you intend to live in it, rent it or sell it for a profit.

Q. What happens if a Property is cancelled or postponed?
A. The sale of a particular Property may be cancelled or postponed for many reasons prior to the start of bidding at the auction including at the direction of the Trustee or due to a borrower's right to reinstate the loan, and thus avoid foreclosure. There is no guarantee that a particular Property will actually be auctioned. As such, the sale may be cancelled or postponed past the date initially noticed for sale, so prospective bidders should check back often for updated sale date information. All cancelled or postponed Properties will be indicated on www.auction.com and will also be announced on the day of the auction.

Q. Will I receive a contract of sale?
A. The winning bidder will receive a Certificate of Sale/Receipt confirming the sale on auction day following the payment of all the necessary funds.

Q. What is the difference between a Credit Bid and the Opening Bid?
A. Under the law, the beneficiary under the deed of trust may place a bid or bids (directly or through Auctioneer) during the auction called a "credit bid". Such credit bids can be made up to the total amount due the beneficiary, including the Trustee's fees and expenses. The "Opening Bid" is an initial credit bid to be placed at the auction, but does not represent the maximum credit bid that may be placed on behalf of the beneficiary.

Q. When can I expect to receive the Trustee's Deed?
A. Usually the Trustee's Deed (Trustee Deed of Sale) will be prepared and sent to the winning bidder within 7 business days after payment in full is received.