By Carol Hann
Five people were at the north entrance to Imperial County Courthouse at 2 p.m. on August 2, waiting for the arrival of the auctioneer to start the bidding processes of the sale of the Barbara Worth and Resort, legally registered as Imperial Palms Resort, LLC, a California Limited Liability Corporation. The address of the resort is purported to be 2050 Country Club Drive, Holtville, California. The deed of trust was recorded May 9, 2012 in the office of the County Recorder of Imperial County, California.
Notice of the auction was published in this paper, and a notice of sale was posted on a board at the north entrance to the Imperial County Courthouse on Main Street in El Centro. Upon his arrival, the auctioneer announced that the auction had been postponed until September 5 at 2 p.m. Those waiting for the auction expressed disappointment.
The Imperial Palms Resort, LLC, defaulted on a loan. The Notice of Trustee’s sale indicated that “The total amount of the unpaid balance of the obligation secured by the property to be sold and reasonable estimated costs, expenses and advances at the time of the initial publication of the Notice of Sale is $2,633,509.33.”
In a July 7, 2017 written statement issued by First American Title Insurance Company in Irving, Texas, a notice to potential bidders read, “If you are considering bidding on this property lien, you should understand that there are risks involved in bidding at a trustee auction. You will be bidding on a lien, not on the property itself. Placing the highest bid at the trustee auction does not automatically entitle you to free and clear ownership of the property. You should also be aware that the lien being auctioned off may be a junior lien. If you are the highest bidder at the auction, you are or may be responsible for paying off all liens senior to the lien auctioned off, before you can receive clear title to the property.”
A phone call to Nationwide Posting and Publications on August 3 indicated postponement of the auction was due to the filing of a bankruptcy.