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What's the difference between a foreclosure auction and a regular auction?
Wiki User
∙ 14y ago
A foreclosure auction is a forced auction. The person who used to own the property being auctioned owed either the bank or the government money. For not paying the money back, their property is sold at auction to satisfy their debt. A regular auction could be anything and isn't necessarily to pay off debt, but usually to make a profit.
Wiki User
∙ 14y ago
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