Bank Owned Auctions
Bank owned auctions are often called different names like REO auctions, OREO auctions, or Foreclosure auctions. These terms are just different ways of saying the same thing. The seller, a bank or other financial institution, has taken ownership of the property. A bank might take ownership of a property fora number of reasons, but the most common is a borrower not being able to pay for the mortgage or loan on the property or real estate.
At Rowell Auctions, Inc. we regularly conduct online and onsite auctions of bank owned property and bank owned real estate. These bank owned auctions are listed on our website as foreclosure auctions, but the meaning is the same. Due to our close relationship with financial institutions helping them manage growing REO inventories our bidders will often have a wide variety of bank owned properties at auction. Our bank clients find that auctions,either online or onsite, is one of the best ways to quickly achieve market value in today’s sluggish real estate market.
To see all bank owned auctions being offered by Rowell Auctions, Inc. please check our event calendar and check out some of our current and past auctions below
Rowell Auctions, Inc. is a well established and reputable auction firm based in Georgia that specializes in online real estate auctions and on site land and farm auctions. We market a wide range of auction needs from the very small estate sale to the large corporate commercial projects. This includes (REO) bank owned auctions,foreclosure auctions, bankruptcy auctions, single family home auctions, as well as land auctions, farm auctions, equipment auctions, and estate property. Established in 1936, Rowell Auctions, Inc. continues to thrive today with a professional and highly accredited team of licensed auctioneers and appraisers with a wealth of experience conducting auctions online and throughout the entire United States. We invite you to explore our website and to contact us for any questions you may have.