What are the general differences between an auction, a sealed bid and a foreclosure?
Generally, a sealed bid or auction is a sale by owner. The owner is not in financial distress, but has concluded that selling his/her property via sealed bid or auction is the most effective method. As marketing moves into the mainstream, more people are finding that selling their real estate via sealed bid or auction is the most efficient way to maximize value in a very timely manner. A foreclosure, on the other hand, is a forced sale by creditors.
