• A Trustee's Sale Guaranty (TSG) Report is ordered from the title company. This report will list parties that may have an interest in this property, including all current liens, encumbrances and judgments.
• After receipt of the TSG, all parties that have an interest, either in the original Deed of Trust or have since its recording, have recorded an interest in the Property will receive notice of the Trustee's sale. This notice is to give ample warning to any parties that have an interest junior to yours that they may lose that interest once the property is sold at Trustee's Sale.
• The Substitution of Trustee and Notice of Trustee's Sale is recorded in the County Recorder's Office.
• The property and courthouse are posted with a copy of the Notice of Trustee's Sale and the same Notice is published for four consecutive weeks in a newspaper of general circulation in the county in which the property is located.
• There is continuing contact with the title company to ascertain whether or not the IRS has filed a claim or lien, or whether the Trustor has filed a bankruptcy. Should either of these happen, additional procedures become necessary.

If a bankruptcy is filed at any time prior to the completion of the trustee's sale, the sale must be postponed until the Bankruptcy Court's order is received lifting the stay against any actions by any creditors of the Trustor.

• The Beneficiary will be contacted approximately one week prior to the sale and asked to prepare a credit bid. This credit bid should include all principal, interest, monies expended to keep any senior lien holder current, taxes, costs and penalties permitted by the Note or Deed of Trust. To the beneficiary's credit bid the trustee's and attorney's fees and costs will be added and this amount is usually the opening bid at the time of sale.
• It is necessary that the Beneficiary have their credit bid prepared and submitted to the Trustee at least 3 working days before the time of the sale.  The Trustee has an obligation to provide that credit bid to anyone who asks no later than 9:00 am the day before the sale

THE SALE: If there are any bidders present, they will be asked to sign in with their name, phone number and address. The successful bidder must tender the same day of sale, cash or certified funds for the amount of their bid. If no bidders are present, the Beneficiary will take the property for the amount of the credit bid and the Trustee will then issue a Trustee's Deed naming the Beneficiary as owner of the property.

Please keep in mind that the bidder at the sale takes the Property subject to any liens that had priority above the Deed of Trust that was foreclosed. Please make sure during the period of the foreclosure that all senior lienholder are kept current, otherwise they will foreclose on their Deed of Trust and eliminate a junior's interest in the property.