Claim Against Bidder for Nonpayment
- California State Law - Revenue and Taxation Code Section 3456.
-- By bidding on the property you
acknowledge the following:-
If the highest bidder defaults,
under Californian State Law (Revenue and Taxation Code Section 3456)
, Real Estate Bargains Inc will not resort to
the second highest bidder. This can trigger following actions:-
(a) Real Estate Bargains Inc shall
have a claim against the bidder for setup/hosting expenses, revenue/time lost,
and attorney fees.
(1) If a bidder does not pay the claim
arising under subdivision (a) within 30 days after the notice is sent,
The following shall apply:
- The Real Estate Bargains Inc may utilize any
means authorized by law to collect the claim, including, but not limited to,
transferring the amount of the claim to the unsecured roll/collection agencies.
Notification will also be sent to various credit agencies.