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.
A mortgage foreclosure sale initiated by the lender when a borrower defaults on their mortgage. Such sales are overseen by the court.
An asset liquidation whereby a court appointed Bankruptcy Trustee sells the assets of the debtor / bankruptcy estate.
Bank Ordered Sales
Typically means the property is owned by the bank which acquired the property through a foreclosure sale.
Same as Bank Ordered Sale, but the Lender may be a finance company, an investor or private note holder, etc.
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.
Court ordered auction to satisfy a creditor’s judgment against the owner and overseen by the Sheriff’s office.
Tax Lien Sales
County offers at auction properties that have delinquent property taxes.
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.