Find Laws Find Lawyers Free Legal Forms USA State Laws
Home » Find Laws » Property Laws » Real Estate » Real Estate Auctions » A Short Guide to Real Estate Auctions

A Short Guide to Real Estate Auctions

Auction

Real estate auctions

Real estate auctions can take place for a variety of reasons. In some cases, homeowners simply wish to make a quick sale of the property and they hold a property auction to do so. In other cases, home owners may have been delinquent on tax payments or mortgage payments. After the owner has been served a notice, the property may be auctioned at a sheriff's sale.

Seized property auctions

Seized property auctions occur when property has been seized because of illicit activities or due to non-payment. Illicit activities may include money laundering, gang activity or illegal gambling. In cases where owners have failed to pay their mortgage or to make timely tax payments, property may be seized. Seized property auctions are conducted in order to pay monies owed to certain entities, such as banks, or to punish those that made money from illegal activities.

NEXT: Short Sale

Related Articles

Link To This Page

Comments

Find an DE Lawyer
Guide to Finding a Lawyer

MORE IN PROPERTY

Short Sale Short Sale
Tips