How do public auctions and foreclosures differ?
Generally, a property taken to public auction is for sale by the owner and commonly the reasons behind the sale do not involve any financial distress, instead the owners have chosen auction as their preferred method of sale. The auction method has become increasingly used by sellers due to high profitability and expedient processing. A foreclosure however is a forced sale of a property to satisfy a debt in default. Generally the properties sold in these types of auctions are sold without a preview and the auction is held in the county courthouse that the property belongs to.
