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P.H.T.S., LLC v. Vantage Capital, LLC

Court of Appeals of Washington, Division 1

March 9, 2015

P.H.T.S., LLC, Respondent ,
v.
Vantage Capital, LLC , Appellant

Oral Argument January 15, 2015

Appeal from Snohomish Superior Court. Docket No: 14-2-01985-6. Judge signing: Honorable Joseph P Wilson. Judgment or order under review. Date filed: 02/19/2014.

Bruce I. Fine (of Fine PS ), for appellant.

Rodney T. Harmon, for respondent.

Authored by Ann Schindler. Concurring: Ronald Cox, Michael J. Trickey.

OPINION

Page 21

Schindler, J.

¶ 1 During the one-year redemption period under chapter 6.23 RCW, a licensed real estate broker may list property sold at a sheriff's sale. If the property is not redeemed by the judgment debtor at the end of the one-year period, the purchaser at the sheriff's sale shall accept the highest qualifying offer as defined under RCW 6.23.120(1). On cross motions for summary judgment, the court ruled P.H.T.S. LLC made the highest qualifying offer and ordered the sale of the property according to the terms of the offer. We affirm.

FACTS

¶ 2 The facts are not in dispute. Vitaliy Glinsky purchased a condominium unit in Rosemount Heights. Rosemount Heights is located in Lynnwood at 2802 143rd Street SW. On September 27, 2006, BAC Home Loans Servicing LP[1] recorded the deed of trust on the condominium. Ownership of the condominium unit is subject to the recorded declaration for Rosemount Heights. The Rosemount Heights Condominium Homeowners Association (Association) assesses monthly fees for a proportionate share of the common expenses. The Association is authorized to file a lien on property for unpaid assessments. The lien is subject to foreclosure.

¶ 3 Glinsky stopped paying the monthly assessments in September 2011. In July 2012, the Association filed a lien and a judicial foreclosure action. The complaint named Glinsky, his marital community, and Bank of America NA, the successor in interest to BAC, as defendants. Neither Glinsky nor Bank of America filed an answer or responded to the lawsuit.

¶ 4 On September 26, 2012, the court entered an order of default, a default judgment, and a decree of foreclosure. The default judgment against Glinsky was in the amount of $8,642.54 plus interest. The order of foreclosure directs the Snohomish County sheriff

Page 22

to sell the property and apply the proceeds toward the payment of the default judgment.

¶ 5 On December 14, 2012, Vantage Capital LLC purchased the condominium at the public auction. The certificate of sale states that as the highest bidder for the sum of $45,500, Vantage received all " right, title and interest of the judgment debtor." [2] The certificate expressly states that the sale is subject to the one-year statutory redemption period[3] for the judgment debtor. The one-year redemption period expired on December 16, 2013.

¶ 6 One day before December 16, licensed real estate broker Thomas J. Sullivan listed the condominium for sale on Zillow.com.[4] The Zillow.com posting states the condominium is for sale " [b]y [o]wner" for $170,000 and describes the property as a " 1000 square foot condo home" built in 2003 with " 2 bedrooms and 2.0 bathrooms," an attached garage, and forced air heating.

¶ 7 At 3:00 p.m. on December 16, Sullivan delivered an " Offer to Purchase" from P.H.T.S. LLC to Vantage. Sullivan is a managing member of P.H.T.S. The Offer to Purchase ...


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