The Verifyd Bidder App adds online and mobile bidders to the foreclosure auction that takes place on the courthouse steps. It allows bidders from across the country to participate in foreclosure auctions without physically being there in person. The love auction still takes place with a real person at the appropriate location, and the Verifyd Bidder app acts as a proxy.
The app verifies the time, date and location of the person conducting a foreclosure auction to ensure that the borrower’s rights are protected. It is intended to verify and ensure that the sale is conducted according to the law and to prevent fraud on the part of the banks, lenders, servicers and their vendors.
The app delivers the foreclosure Notice of Sale to the person reading the sale, and it tracks exactly where and when the Notice of Sale is both opened and closed to ensure that the process is carried out at the right time, date and location.
This app also helps with managing the funds from the sale and helps provide efficient and accountable sale day management tools.