What is required in order to bid at a trustees sale?
In order to bid at sales you must qualify with the auctioneer at the time of sale with cash, a cashier’s check drawn on a state or national bank, a check drawn by a state or federal credit union, or a check drawn by a state or federal savings and loan association, savings association, or savings bank, or a cash equivalent which has been designated in the notice of sale as acceptable to the trustee prior to, and as a condition to, the recognizing of the bid at the time of sale in the amount the bidder is willing to bid up to. This is competitive bidding and will be sold to the highest bidder. The first bid being offered on behalf of the beneficiary, which is approximately the amount specified in the Notice of Sale at the time of the publication. Most states require the full amount at the time of the sale.
