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Author Topic: Interesting language in notice of foreclosure  (Read 6555 times)

Offline Bill H

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Interesting language in notice of foreclosure
« on: August 26, 2015, 11:45:24 pm »
 Should the undersigned become the last and highest bidder at the foreclosure sale, the Trustee is hereby authorized to transfer and assign said bid and to convey title to said foreclosed property to the Gulf Coast Baptist Association, Inc., or whomever the undersigned shall authorize. The statement in the Trustee's Deed that the undersigned has requested transfer of its bid to grantee(s) in the Trustee's Deed shall be binding on the undersigned and conclusive evidence in favor of the assignee or other parties thereto and that the Trustee is duly authorized and empowered to execute same[/b

Trustee is the undessigned

Beneficiary apparently wants the property and wil do whatever to get it.

Offline Bill H

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Re: Interesting language in notice of foreclosure
« Reply #1 on: August 27, 2015, 02:47:18 pm »
I was incorrect. found the ansere and it is.......

Not so, this is not uncommon language.  For example in all foreclosures on a VA loan if there is no third party successful bidder it is bid in for the lender and the bid is assigned to the VA and title goes to the VA.  All of this is recited in the Trustees Deed. 

saves time effort and energry by going directly back

Offline dannyspastics

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    • Innovative Estates
Re: Interesting language in notice of foreclosure
« Reply #2 on: February 11, 2016, 11:50:41 pm »
yes i think its a common language but if you know about this topic very well.  :biggrin
Innovative Estates | Sell Your House Fast DC, MD, VA
http://www.sellmydcmetrohouse.com

 




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