Real Estate Definition - Trustee’s Sale
A foreclosure sale conducted by a trustee under the stipulations of a Deed of Trust. Upon default of a mortgage, the trustee is authorized to foreclosure the mortgage and put the property up for a trustee’s sale (can also be called a foreclosure auction). The proceeds of the sale are distributed by the trustee according to the priorities listed in the deed of trust.
- Jeff Buettner
Real Estate Wiz Kid
The bank is going to foreclose! What do I do?
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