When a debtor defaults on a loan, a secured lender has several options for repayment. One option is a foreclosure sale under Article 9 of the Uniform Commercial Code ("UCC").1 An Article 9 sale can maximize the secured lender's recovery without the cost and delay of a judicial foreclosure sale or a sale under Section 363 of the Bankruptcy Code and without certain hurdles presented by a direct sale between the debtor and a buyer. If a buyer or the secured lender determines the Article 9 sale is the preferred route, there are procedures to consider. This article discusses the procedures of an Article 9 sale as well as the advantages and pitfalls involved. Section I explains the sale remedy, section II describes the mechanics of the sale process, section III discusses the advantages, and section IV points out potential pitfalls.
Braun is proud to announce the newest addition to our team, Rhianna Martin. Since joining, Rhianna has broken new molds and added new expertise to the Braun sales team. With a closing already under her belt, we know she’ll continue to be successful. Welcome to our team, Rhianna!
Where are you from and where did you attend school?
I come from Barstow, California… widely regarded as the ‘Jewel of the Desert.’ Ask anyone! Oh no wait… that’s Vegas. Well, Barstow is halfway between here […]
Braun recently welcomed Michelle Berns to our team; she joins us as Regional Director. Meet Michelle!
Where are you from and where did you attend school?
I attended the University of WI with a major in Communications.
How did you end up in Manhattan Beach?
I was born in California, but I moved to the Midwest with my family when I was entering junior high school. I adore the Midwest; however, with my background in marketing, technology and entertainment, the exposure in California offered so many opportunities in my interests…so I knew I needed to make it my home.
What kinds of hobbies and interests do […]
Braun’s clients (and prospective clients) have experienced the incredible results of our global bespoke marketing campaigns. Clients understand the powerful results these campaigns provide, including global exposure with hundreds of thousands of impressions, targeted media coverage, grassroots marketing tactics…and so much more. What our clients may not know is the behind-the-scenes action involved in creating, executing and analyzing these campaigns in a matter of days or weeks. Let’s uncover the teamwork it takes to launch a bespoke marketing campaign that can reach millions…
1. Research, research, […]
Braun is proud to represent the sale of 345 West Portal – the most prestigious office building in West Portal, with prime location on the Muni line and an ample and private parking lot featuring 17 spaces. The classic, throwback feel of West Portal also translates into its vacancy rate, with a low average of 2.5% vacancy in this building. When visitors come to West Portal, they fall in love with it, and they stay.
What exactly makes West Portal so special? […]
Braun is proud to announce another successful sale due to our Worldbid auction platform. Thanks to our bespoke marketing campaign for the Popeye's Louisiana Kitchen restaurant located at 3246 Mercer University Drive in Macon, GA, multiple bids were received prior to auction...with the highest and best bid approved by the seller.
2015 was a banner year for Napa County land values, with the price of a prime acre of Napa Valley vineyard rising 14.8 percent, according to a report by the California Chapter of the American Society of Farm Managers and Rural Appraisers. To own a piece of the choicest land on the valley floor, a buyer will have to pay an average of $310,000 per acre, compared to $270,000 in 2014...
Todd Wohl and Dave Isackson recently returned as Braun representatives from the 2016 NTREA Conference held in Chicago, IL. The NTREA Conference is an annual 3-day educational and developmental forum, featuring presentations by national speakers who provide information for the purpose of helping members better perform their duties as trust real estate property and asset managers...
$1.3 Billion Sony Bldg. Purchase Latest in Renewed U.S. Spending Spree
By Mark Heschmeyer – Direct Link
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Far from losing steam, foreign investors in the last few weeks seem to have stepped up their U.S. real estate investment game in the wake of several new mega-deals, while others have announced they intend to do so after a sluggish start to the year.
The breaking news this week is that Saudi Arabia’s Olayan America, in a joint venture with Chelsfield, a London-based property group, struck a […]
Braun Co., an international brokerage, auctions, valuations, partnership interests, advisory and acquisitions company, has launched the Minority Interest Market Exchange (MIMX) to handle the sale of minority and partnership interests in commercial real estate. The first of its kind platform, geared toward investors wishing to exit early a partnership or minority interest in commercial real estate, includes
Braun Worldbid is proud to announce that (after a spirited bidding frenzy) 102 Emerald Bay in Laguna Beach has been sold. This 0.26 acre parcel was one of the largest in Emerald Bay, and was one of the southernmost true beachfront homesites, affording it maximum daylight...
What exactly does a fiduciary do, and why are they needed? In this episode of Braun Beat, Todd Wohl discusses the role of fiduciaries with Jim Sullivan, CEO of Conservatrust Fiduciary Services, Inc.
How is real estate sold in receivership? What is a court receiver's responsibilities, and how are they appointed? Check out the latest episode of Braun Beat to get these questions (and many more) answered by expert receiver Steve Speier. Hosted by Todd Wohl, Senior Partner.
"What's my property worth?" is the number one question asked by our sellers. You’ll find that many brokers rely solely on the concept of price per square foot to determine property value. It’s certainly a measuring tool that’s easy to use, and has frequently been cited since the rise of real estate values several years ago.