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Verifyd, an Atlanta-based fintech team that has created a digital system for dates, times, and locations of foreclosure sales in real-time, this week announced they have launched a social distancing app for live foreclosure auctions, which are typically conducted in public spaces.
Known as the “Verifyd Bidder App,” this new app enables buyers looking to purchase a foreclosed property at the courthouse to use their phone, tablet, or PC to bid on properties. Additionally, app users will be able to, in real-time, bid for properties everywhere without having to leave their homes.
Should a buyer decide to visit the courthouse, they can be six-feet apart from the auctioneer conducting the sale.
“The COVID-19 pandemic has forced us all to take a look at our legacy procedures,” said CEO Mike Watkins of Verifyd, LLC. “We realized immediately that the traditional method for conducting and bidding on these auctions will cause many people to congregate together in closed spaces, putting all parties at risk. That’s what inspired us to create a solution.”
The Verifyd Bidder App has been leveraged in the Atlanta, Georgia region for over two-years to date. The app is set to launch for the entire state of Georgia as quickly as possible to accommodate for the current crisis.
“We are anticipating a surge in foreclosures in the coming year, which is why we want to do our part to protect the housing market – no one wants another 2008 crisis again,” said Watkins. “By making sure that all interested parties are able to bid on auctions safely, we are hoping that most properties auctioned will go to third party buyers, as to not inundate the lenders with foreclosed properties that they will have to then list and sell. The lenders are then ensured they receive fair market value for the property. It’s a win-win for all parties.”
The Verifyd Bidder App is available for download in the App Store and Google Play Store today.
About Verifyd, LLC
Verifyd, LLC is a compliant foreclosure auction platform that ensures legality of foreclosure sales while allowing real-time interaction with the remote auctioneers. The Atlanta-based team is releasing their new mobile app, the Verifyd Bidder App, to further Georgia counties.
For more information, visit: www.verifyd.com.
