Foreclosures
1
FORECLOSURES Usually, a customer whose property is in foreclosure will request to have their name removed from the account. The District must have documentation stating the party responsible for the property. The account will remain in the customer’s name until documentation is provided to reassign the account. Check Pierce County Assessor’s website for new ownership information. If there is a new taxpayer’s name, mail a certified Ownership Letter to the new property owner and make a note on the account. If a realtor or asset manager requests to have the account transferred into their name on behalf of the bank or mortgage company, they must provide documentation authorizing assignment for the property. Typically, these properties are being prepared for sale and a closing will occur when a sale is confirmed. Notice of Trustee’s Sale When a Notice of Trustee’s Sale is received, note the customer account and make a copy of the document for monitoring. After the scheduled auction date, contact the trustee to confirm a sale. If the property was reverted back to the lender, have the trustee provide documentation (deed) to reassign the account. If the property was sold to a private party, the trustee does not provide the name of the buyer. When the buyer contacts the office, they must provide documentation before a closing will occur.
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Foreclosures
Transcript of Foreclosures
FORECLOSURES
Usually, a customer whose property is in foreclosure will request to have their name removed from the account. The District must have documentation stating the party responsible for the property. The account will remain in the customer’s name until documentation is provided to reassign the account. Check Pierce County Assessor’s website for new ownership information. If there is a new taxpayer’s name, mail a certified Ownership Letter to the new property owner and make a note on the account.
If a realtor or asset manager requests to have the account transferred into their name on behalf of the bank or mortgage company, they must provide documentation authorizing assignment for the property. Typically, these properties are being prepared for sale and a closing will occur when a sale is confirmed.
Notice of Trustee’s SaleWhen a Notice of Trustee’s Sale is received, note the customer account and make a copy of the document for monitoring. After the scheduled auction date, contact the trustee to confirm a sale. If the property was reverted back to the lender, have the trustee provide documentation (deed) to reassign the account. If the property was sold to a private party, the trustee does not provide the name of the buyer. When the buyer contacts the office, they must provide documentation before a closing will occur.
