Auction Sale Types

Atlantic Auctions is located in Bel Air, MD and serves the east coast with commercial real estate auctions, residential real estate auctions, and other specialty auctions. Below is a list and description of the auction sale types that we commonly manage.

Trustee’s Sales

A mortgage foreclosure sale initiated by the lender when a borrower defaults on their mortgage. Such sales are overseen by the court.

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Bankruptcy Sales

An asset liquidation whereby a court appointed Bankruptcy Trustee sells the assets of the debtor / bankruptcy estate.

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Bank Ordered Sales

Typically means the property is owned by the bank which acquired the property through a foreclosure sale.

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Lender Sales

Same as Bank Ordered Sale, but the Lender may be a finance company, an investor or private note holder, etc.

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Owner Sales

Owner wants to quickly liquidate an asset – real estate or equipment. Often prompted by, or in cooperation with, the bank or possibly the IRS. Usually, but not always, a distress sale.

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Sheriff’s Sales

Court ordered auction to satisfy a creditor’s judgment against the owner and overseen by the Sheriff’s office.

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Tax Lien Sales

County offers at auction properties that have delinquent property taxes.

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Secured Creditor Sales

Upon default of a secured loan, the secured creditor is entitled to seize, and then sell, the collateral to discharge the debt that the security interest secures.

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