Sale by auction refers to the sale, or the upcoming sale, of a property by way of an auction.
This term is often used to advertise properties that are going up on auction due to them being foreclosed by the bank or being put up by an owner voluntarily.
In other cases, it can also be due to abandonment.
These adverts can often be found in newspapers and online portals.
They basically serve as an invitation to real estate investors to attend these auctions to bid on the property.
It can also be used to describe properties in advertisements so as to inform potential buyers that a seller acquired a particular property by auction, and might be willing to sell at a low and fair price.
