About EFA
Effective Foreclosure Auctions is based out of San Diego, CA and their management team has over 15 years working in the default/REO side of mortgage banking. This team includes professionals who have 25+ years experience in holding real estate auctions, as well as substantial exposure at the local, grass-roots level in buying foreclosures at the trustee’s sale. Our concept is simple: We help remove the all-too-frequent obstacles of foreclosure auctions (postponements, delays, difficulties locating qualified investors/buyers) by streamlining the relationship between buyers and sellers to generate a much more effective foreclosure auction at the courthouse steps and after. We serve as a conduit to unclog the current system and match lenders (who want to sell) with qualified foreclosure investors (ready to buy).
Initially, our service provides lenders with a Lender's Opening Bid (LOB) valuation report or lenders use their own valuations. Once the lender has chosen an opening bid, we heavily promote the upcoming “Effective Foreclosure Auction” and offer the option of sharing the opening bid price to draw more seasoned and serious buyers into the bidding arena. The end result: The “Effective Foreclosure Auction” runs much more smoothly as lenders quickly sell off their REO inventory as soon as it hits foreclosure while investors receive exceptional deals in purchasing real estate.