A Dedicated Service For SB1079 Properties
Afterauctionbid is your dedicated resource in navigating the process of purchasing a property through SB1079 .
The AAB Process
Utilizing the power of data, we provide a time saving list of eligible properties, that have sold after auction!
Teaming up with our friends at Datatree, we offer a convient an affordable resource for conducting your due dillence on an eligible property
When your ready to submit your Notice of Intent (NOI), Afterauctionbid.com gives you a set of tools to make the bidding process as simple as clicking of button.
How it Works
Eligible Bidders, as defined in the California Civil Code §2924m(a)(3) have the right to bid on the subject real property after the scheduled foreclosure sale. Please note that the opportunity to bid is time sensitive and will be lost if not timely acted upon.
Step 1
Up to Fifteen calendar days after the foreclosure sale, eligible bidders may submit a nonbinding written notice of intent to place a bid. The bid or written notice of intent to place a bid shall be sent to the foreclosure trustee by certified mail, overnight delivery, or other method that allows for confirmation of the delivery date (such as email, if accepted by the trustee) and shall be received by the trustee no later than 15 days after the foreclosure sale.
Step 2
Forty-five days after the foreclosure sale, except that during the 45-day period, an eligible bidder may submit to the trustee a bid in an amount that exceeds the last and highest bid at the trustee’s sale, in the form of cash, a cashier’s check drawn on a state or national bank, a cashier’s check drawn by a state or federal credit union, or a cashier’s check drawn by a state or federal savings and loan association, savings association, or savings bank specified in Section 5102 of the Financial Code and authorized to do business in this state.
The bid shall be accompanied by an affidavit identifying the category to which the eligible bidder belongs and stating that the eligible bidder meets the criteria for that category. The trustee may reasonably rely on this affidavit. The bid and affidavit shall be sent to the trustee by certified mail, overnight delivery, or other method that allows for confirmation of the delivery date and shall be received by the trustee no later than 45 days after the trustee’s sale.
Step 3
As of 5 p.m. on the 45th day after the trustee’s sale, if one or more eligible bidders has submitted a bid, the eligible bidder that submitted the highest bid shall be deemed the last and highest bidder pursuant to the power of sale. The trustee shall return any losing bid to the eligible bidder that submitted it.
Choose your plan
Be the first to know before REO
FAQ
find answers to Frequently Asked Questions.
Certified funds are guaranteed funds backed by a bank or other financial institution
Title Reports are an essential part of your due diligence and are not required to have but strongly recommended before you decide to send certifed funds to the trustee.
Your certified funds are returned to you in full.
