Legal Question in Real Estate Law in California

Do banks need to disclose non permitted structures during a foreclosure sale ?


Asked on 2/02/11, 3:41 pm

3 Answers from Attorneys

Terry A. Nelson Nelson & Lawless

Foreclosures are sold 'as is'.

Read more
Answered on 2/08/11, 5:08 pm

The bank is not actually selling the property at a foreclosure sale. The trustee of the deed of trust is. Theoretically if the trustee had actual knowledge of the condition of the property, they might have a duty to disclose. But in fact, trustees sales are conducted by employees of large trustee sale companies and they never know anything about the property that is not in the public record.

Read more
Answered on 2/08/11, 5:59 pm
Bryan Whipple Bryan R. R. Whipple, Attorney at Law

If it is a trustee's sale, there is an auction that takes a few minutes to complete; the bidders will be the lender and a few speculators who are supposed to have studied the property beforehand and perhaps one or two novices. It's pretty much buyer beware.

Read more
Answered on 2/08/11, 9:34 pm


Related Questions & Answers

More Real Estate and Real Property questions and answers in California