Public Auction

Public Auction is one of the methods used by financial institutions, such as the NHT, to legally recover outstanding mortgage loans in default. The process involves offers (bids) made publicly by prospective purchasers, in a public forum, to purchase any of the properties listed for sale by, or on behalf of the institution. The property is sold to the highest bidder.

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Before Auction Day
Auction Day
After Auction Day (Closing the sale)