I do not know where did you find this info. Usually, a min. bid on Trust Deed Sale may be based on the 1rst deed of trust on the property may be not much. Or, sometimes the sale may be between family member, or a gift shown real low on the sale price.
Currently, I am working on some short sale cases. If you are interested to invest on some property which below market price, let me know. I will include you as one of my investment group of clients. You will be the first to be notified on some investment opportunities.