Property auctions are events where properties are sold to the highest bidder. They provide an alternative method of buying and selling real estate, often with a time-limited bidding process. Auctions can be conducted in person or online. Properties at auctions can include residential homes, commercial buildings, land, and other types of real estate. Auctions can offer potential advantages such as a faster sale process, competitive bidding, and potential bargains. However, it’s important to thoroughly research and understand the auction process, property conditions, and any associated risks before participating.