County Records Research.com
Proceeding with the Trustees Sale
Business established in 1981
If the default is not cured within the three month default period, the next step will be to prepare, post, record and publish the Notice of Trustees Sale.
An instruction form which is referred to as the "authorization to publish" is sent to the beneficiary. This letter authorizes publication of the Notice of Trustees Sale. A copy of the notice is published in a newspaper of general circulation once a week or three consecutive weeks. The notice is also posted on the property and recorded at the County Recorders office.
If the property owner wants to reinstate the loan during the publication period, the beneficiary must allow him / her to do so up to five business days prior to the date of sale, unless the loan is all due and payable pursuit to the terms of the note. The beneficiary will also sign a "Bid Construction Letter" which will instruct County Records Research to make the opening bid on the beneficiary's behalf. This bid will usually be for the total amount of the debt secured by the Deed of Trust plus any advances, trustees fees and expenses. The beneficiary may instruct County Records Research to make a deficiency bid. A deficiency bid is one which is less that the amount of the debt and is used when the beneficiary does not want the property back and / or the value of the property is less then the debt due on the note.