Legal Question in Real Estate Law in Washington
WA Trustee's Sale Excess Proceeds
I have heard that when a homeowner loses their home through a non-judicial trustee's sale due to defaulted payments that the excess proceeds of the sale go to the original home homeowner. Is this true and if so, how does a homeowner go about claiming these funds if they cannot afford an attorney?
1 Answer from Attorneys
Re: WA Trustee's Sale Excess Proceeds
The attorney can be paid out of the proceeds.
I've done this before.
The excess funds actually go to the court registry in trust for the original (defaulting) ex-homeowner.
That person moves the court to disburse the funds.
There is a world of procedural issues in that sentence. You would do better to get a referral to a local attorney who will do it properly in twenty days time.
The registry is not going to pay you interest on the money, so the sooner you get it out of there the better.
Hope this helps. Elizabeth Powell
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