There was no 11th-hour reprieve or last-minute deal.
In the end, no bidders came forward.
Los Alamos National Bank set a minimum bid at $2.9 million, to secure the Hilltop House Hotel during a foreclosure auction in front of the Justice Center Wednesday, just before noon.
Approximately 20 people were in attendance as special master John Morse read the conditions of the sale.
Morse announced the bank had submitted a $2.9 million bid. He then asked everybody in attendance if there were any other bids.
There was silence.
Morse then awarded possession of the hotel to the bank.
LANB president Steve Wells said the bank never favors the foreclosure process “but unfortunately, this was the only option we had left.”
Wells then explained the process of what happens next.
“This process requires the judge presiding over the foreclosure to approve the auction transaction and that can take up to a week depending on the judge’s workload and of course any concerns, which we do not expect,” Wells said. “New Mexico law allows for a 30-day redemption period where the debtor can redeem the property with payment of the amount required.