Real Estate Auctions At a Glance

Real estate auctions may be voluntary in cases where homeowners simply wish to make a quick sale. For example, an estate sale may take place in order to settle estates in cases where more than one person may have inherited a piece of property. Those that inherit property jointly sometimes opt to sell the property at auction, in order to settle all legal issues quickly. There are also real estate auctions which occur for non-payment of taxes and mortgages. In addition, items purchased with monies gained through illegal activity often include the sale of those items at auction.

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