Difference between court sale and auction

Differences in procedure, time and manner, and price determination. Procedural differences: the auction is through public bidding, the highest bidder to obtain ownership of the property. While the sale is in the case of the auction failed to sell the property, according to the provisions of the law for the disposal of property. Auctions take place over a period of time and are conducted through public auctions and online platforms. Participants are allowed to bid for a specified period of time and the highest bidder ultimately gets the property.

An auction, on the other hand, is a one-time transaction in which property is sold directly to a specific buyer by the courts and relevant agencies. The price of an auction is determined through public bidding and is ultimately paid by the highest bidder. The price of a sale is determined by the court and related agencies based on market value, appraisal reports, and other factors.