My friend, a realtor, told me that he and his client showed up to court on the sale date to overbid. He had called the listing agent and he was told that a personal check would do.

In my experience, you always take a cashier's check for 10% of the first overbid amount. I'm sure there are exceptions, but with a cashier's check there are no exceptions.

The original bidder did not show up. The judge said OK Mr. New Bidder, we'll take your offer but we need a cashier's check. Go to the nearest bank to get one. Up jumped the listing agent. Your honor, while he is getting the check, can we call the original buyer to see if he wants to bid up? Judge said OK. (Huh? Really?) 

The new bidder went to a bank and was delayed a little in getting the check. Finally he got the cashier's check. What happened next? He went back to court only to hear that they were trying to get a hold of the original buyer. (Huh? What?) Lo and behold, the original buyer does show up! (What?) Now there was competition and the original buyer beats him.

What's the lesson here? Take a cashier's check...always. Don't take it easy. Don't listen to the listing agent in this regard. What's he going to say when he screws up? "Sorry." And you and your client lose.

For buyers interested in probate listings, below is a list of Pending Probate Listings which are going to court for confirmation. If you need help with any of them call me. These usually take place in Berkeley or the Martinez court house.

Buyers must bring cashier's check to bid.

15385 Inverness St. San Leandro CA $339,000.  Single level 3 bedroom 1 bathroom ranch style home featuring eat in kitchen, attached garage, fireplace and nice size back yard. Interior needs updating.

Multiple offers were received. No more offers. Probate Sale with Court Confirmation. Required 10% min. down payment. Pre-escrow opened with Placer Title Alameda. Call for confirmation date and time at 510.418.9443.

1748 9th St. Oakland was a very big home is West Oakland. Built in 1905, this was a Victorian with plenty of original exterior and interior detail. The tax records indicated a duplex with 5 bed, 1 bath, 2652 sf, on a 3250 sf lot.
It was beautiful inside. It had big rooms and high ceilings. What a gorgeous property.
However, the property needed everything. Doors, windows, walls, etc. Basically, it was a cash purchase.
The first overbid fore it was set at $289,250. So the winning bid was $275,000. The investor who I knew that was interested in the property couldn't go that high.
Court confirmation took place on May 15, 2013 at 9 am at the Berkeley courthouse. There were no over bidders and the court confirmed the sale.
I'd love to see this home restored and at what the list price will be.

There were no over bidders for Yale. I met with the listing and buying agent in court just to say hello. They asked me if I was bidding or if I was bringing someone to overbid. I told them neither.

The first over bid was $300,800 so I estimated the winning bid must have been around $286,000 [($286,000 + 5%) + $500].

The house went pending Jan 25, 2013 and went to court on April 11. 2013. That's not too bad. But, oh, I heard that this was the second time for them being there because there was some problem the first time.

The confirmation was nice and boring. No one bid up and no one opposed the sale. The buyer looked happy and relieved.

As usual, the court confirmation was in Berkeley at 2120 Martin Luther King Jr. Way, Dept 201.

This sale is not a probate sale but rather a short sale.

I decided to go to probate court because it was last day of the year. Another reason was that I knew the buying agent.

First things first, the judge was an hour late. Jeez! I thought she might have forgotten that it was a working day. The Honorable Cecilia Castellanos is well known for being late. Sorry judge.

The sale being confirmed was for 607 Jean St. Oakland CA 94610. It was listed at $585,000 and it came up for confirmation at $650,000. There had been multiple offers on it. Nobody else showed up to overbid, despite many people calling. Usually when the amounts are large, nobody shows up.

It was nice to bump into Ruben Sundeen, who was representing the seller. We have done a deal before.

Next court date for me will be on January 11 to see the first confirmations which will be 3925 Edenvale Place, Oakland CA, listed at $99,000, first overbid at $165,875. Also, 25843 Bel Aire Dr. Hayward CA. listed at $225,000, first overbid at $242,000.

And so we go into 2013.