Is it possible to bid a trustee sale real property by a loan/mortgage?

Usually they will take a cashier's check or a certified check. Call the auctioneer in advance to confirm.

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By law payment MUST be made with cash, certified/cashier's check, money order, or wire transfer.

RCW 61.24.070 says: "the entire bid shall be paid to the trustee in the form of cash, certified check, cashier's check, money order, or funds received by verified electronic transfer, or any combination thereof."

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Your question is unclear, but it appears you may be interested in buying notes for loans that are in foreclosure and then competing the foreclosure sale. Otherwise, it is difficult to understand what you mean when you say "is it possible to bid. . .by a loan/mortgage".

If you buy a loan that is in foreclosure, you will buy the note and the collateral security interest represented by the deed of trust. When the purchase of the note and deed of trust is complete, you will be the beneficiary under the deed of trust. RCW 61.24.070 allows the beneficiary under a deed of trust to use the amount of the monetary obligations secured by the deed of as a credit against that beneficiary's foreclosure sale bid. If the beneficiary ultimately bids more than the secured debt, the balance of the payment (in excess of the debt) must be in cash. This is what the statute says:

"(2) The trustee shall, at the request of the beneficiary, credit toward the beneficiary's bid all or any part of the monetary obligations secured by the deed of trust. If the beneficiary is the purchaser, any amount bid by the beneficiary in excess of the amount so credited shall be paid to the trustee in the form of cash, certified check, cashier's check, money order, or funds received by verified electronic transfer, or any combination thereof."

As pointed out by others, if the purchaser is not the beneficiary, the entire bid must be paid in the form of cash, certified check, cashier's check, money order, or funds received by verified electronic transfer, or any combination thereof.

Best of luck.