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Example Robert aends the trustees sale of his 4-unit apartment building in Dallas, Texas, which has a current market value of $400,000. Five people a end the sale. Robert observes one man quietly handing money to each of the other potential bidders. When the sale begins, National City Savings, his lender, credit bids $275,000, the amount due on the loan.
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The man who paid off the other potential buyers bids only $1,000 more, $276,000. When no one makes a higher bid, the trustee declares this man to be the purchaser of the property for $276,000. Because of the obvious irregularity in the bidding process and disparity in the sale price, Robert may have grounds to set aside the trustees sale. 4. Trustee Finalizes Sale and Disburses Proceeds The trustee will give the highest bidder a Trustees Deed Upon Sale document, also known in some states as a Trustees Deed. This deed is then recorded in the county recorders offi ce.