[irish_links]

A blind auction is another term for sealed bid auction. Every state and most counties in each state have their own unique rules for conducting sheriff sales and property auctions. Some are likely to employ sealed bids.

As for lender bids, in the past it was almost universally true that a lender would submit a full-priced bid for the reasons I stated. Perhaps that is less likely these days in so much as lenders will do almost anything to avoid adding to their REO portfolios. Pardon me.

What's your problem?

[SeeSac]

What's your problem?

The fact that foreclosure auctions are PUBLIC auctions, not sealed bid auctions. A blind foreclosure auction is not a sealed bid auction, it is one where the bidders are not afforded an opportunity to inspect the property.