Foreclosure auction – What happens if no one bids on my home?

The auction of my home will be held on 21st September. Who can make a bid on my home? What will happen if no one bids on my home?

2 Answers

Your lender may also get help from a real estate agent to sell the property.

Anyone can bid for your home and win the auction to buy the property. If no one bids for the home, then the auction will not take place. The property will remain with your lender. Later on, the lender may again arrange for another auction.

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