What is a TD sale (short sale real estate)?
March 10, 2010
We put a bid on a home that is a short sale. The realtor said "B of A said the TD sale was scheduled for Sept. 3rd). The office is closed now so I cant find out what a TD sale is. I know a short sale is a hit or miss and could be a long process but i’m curious what this means. Thanks for any info.
LOL ! It’s jargon for Trustee Deed Sale which is a foreclosure auction conducted by a trustee and the trustee will sell to the highest bidder at the auction. The Trustee will then issue a Trustee’s Deed (TD) to the winning bidder. The winning bidder is the new owner of the property as soon as the deed is in the bidder’s hands.
P.S. Better check to see if it is maybe the 1st of September instead of the 3rd.
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March 11th, 2010 at 2:41 am
LOL ! It’s jargon for Trustee Deed Sale which is a foreclosure auction conducted by a trustee and the trustee will sell to the highest bidder at the auction. The Trustee will then issue a Trustee’s Deed (TD) to the winning bidder. The winning bidder is the new owner of the property as soon as the deed is in the bidder’s hands.
P.S. Better check to see if it is maybe the 1st of September instead of the 3rd.
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References :
I’m a Texas Licensed Real Estate Broker who specializes in foreclosures.