real estate auction
Land sale competition
A real estate auction is a public sale where property is sold to the highest bidder, typically within a set timeframe.
Unlike traditional sales with negotiated offers, auctions create competitive bidding that can drive prices up—or yield bargains when interest is low.
Properties sold at auction often include foreclosures, estates, or distressed sales: The bank put the foreclosed home up for real estate auction.
Auctions may have reserve prices below which the seller won't sell, or be absolute auctions where the property goes to any highest bid.
- biddingOffering prices or obeying
- opening bidFirst price proposed
- going onceAuctioneer's initial announcement
- gavelSmall ceremonial hammer
- foreclosureLender seizes mortgaged property
property · lot · sold · sold sign · hammer · reserve · no reserve · buyer · cash buyer · seller · mortgage · investment · courthouse · paddle · opening · closing · appraisal · fair market value
- auctionsbidding, bid, bidder, hammer price, gavel
- forced salesforeclosure sale, sheriff's sale, tax sale, forced sale, seizure
real estate auctionprivate sale
Transaction without public offering
MLS listing · direct sale · for sale by owner · rent-to-own · lease agreement
estate, auction, reals, reality, realities, realistic, realistically, unrealistic, realism