What happens at a trustee sale?

Trustee sales are advertised in advance and require an all-cash bid. The sale is usually conducted by a sheriff, a constable or lawyer acting as trustee. This kind of sale, which usually attracts savvy investors, is not for the novice.
In a trustee sale, the lender who holds the first loan on the Downtown Minneapolis and Uptown Minneapolis property starts the bidding at the amount of the loan being foreclosed. Successful bidders receive a trustee's deed.

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