A public sale of property to the highest bidder. Foreclosure auctions and tax-sale auctions are the most common types. In both cases, the homeowner has lost (or is about to lose) ownership.
Related terms
Reviewed by John Quigley · Founder, BuyHousesInCash · Last updated May 2026
Selling a house in a hurry?
We close in 7 days. No fees, no repairs, no agent commissions.
Get a Cash Offer →