The lender gets to make the first bid, which is the Opening Bid. Some also refer to it as the drop bid, because lenders may substantially discount the opening bid from the amount owed. The laws regarding opening bids vary from state to state. In California, the lender/trustee is under no legal obligation to announce the opening bid in advance of the sale. They typically release the opening bid the day before or the morning of the sale. Sometimes the bid is not announced until the sale starts.
The Research Team at PropertyRadar works diligently to post opening bids as quickly as possible.
You can set Alerts so that we automatically update you when Opening Bids are published in PropertyRadar.
We also provide the trustee name, phone number, and Trustee Sale number so that you can manually call the trustee for last minute information.