We were recently in a training class and learned that we could take a partial payment and have them sign an addendum that states that this does not stop the lien process. If they have not paid in full prior to the sale on a specified date. If anyone has a form they use in these cases I would love to see what you have.
Thanks...LeAnn

That would depend upon which state you are in as each state has different rules to play by.

If you are in California I would be glad to share what I use. Just shoot me an email.

We kind of have something to that affect set up. It's a contract to make scheduled payments. If not followed exact it voids the contract and the auction process continues. It doesn't pause it or anything. It's not legally binding though. We just put it in bold print and emphasize it to start a fire under our tenants and make 'em pay up. One tenant defaulted, so we couldn't auction their stuff. We just have a rule as managers that they aren't allowed partial payments at all. ever again

Why isn't your agreement legally binding?

I was told that it has to do with the fact that payment has been made within 30 days of the auction or the lock cuts. I'm not exactly sure. If we could just do it that'd be great! We will often times set up payment plans of 2-3 installations and if they default once they automatically get sold at next auction unless paid in full. But if we take a payment 2 weeks before the auction, we can't continue the auction process. Utah law I guess.

just as an example (the above statement)