Superior Court County of Alameda, Berkeley
There were no probate sales over bidders at two court confirmations Thursday, 11/3/11 at the Berkeley Superior Court of Alameda, 2120 Martin Luther King Jr. Way. One thing I tell buyers is that someone can show up at the court and over bid, one of the problems with probate court confirmation sales. But nobody showed up.
I had a small property, listed at $75,000. The Attorney was Richard Karlsson, Interim County Counsel. One of his assistants took care of the matter. It was confirmed by the the Hon. William McKinstry at $68,500, within the 90% minimum requirement.
The overbid formula was a) Original bid $68,500 + b) 10% first $10,000 of original bid $1,000 + c) 5% of (original bid - $10,000) $2,925,00 = a+b+c= $72,425.
The good news for me was that I also had the buyer. Both seller and buyer were happy with the sale.
Both sales were confirmed without muss or fuss. Neither the representatives for the seller nor the buyers showed up. I was there just in case something came up. The attorney got up and announced the sale of real property and asked if anyone wanted to bid. Silent reply. CONFIRMED.
The responsibility to make sure deal closed transferred to the buyer.
I had a small property, listed at $75,000. The Attorney was Richard Karlsson, Interim County Counsel. One of his assistants took care of the matter. It was confirmed by the the Hon. William McKinstry at $68,500, within the 90% minimum requirement.
The overbid formula was a) Original bid $68,500 + b) 10% first $10,000 of original bid $1,000 + c) 5% of (original bid - $10,000) $2,925,00 = a+b+c= $72,425.
The good news for me was that I also had the buyer. Both seller and buyer were happy with the sale.
Both sales were confirmed without muss or fuss. Neither the representatives for the seller nor the buyers showed up. I was there just in case something came up. The attorney got up and announced the sale of real property and asked if anyone wanted to bid. Silent reply. CONFIRMED.
The responsibility to make sure deal closed transferred to the buyer.
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