Can you get bargains at foreclosures? Getty Images
There are many different types of auctions: foreclosures, estate auctions and lien auctions.
There is a big difference in what is auctioned and how the auction is carried out.
Business Insider was there at all three auction types and summarizes the differences – and explains where you can actually get a bargain.
Anyone who has ever been to an auction or auction knows this very special feeling that people exude at the events. The mood is electric and everyone in attendance is secretly hoping to snag a bargain.
Maybe there’s something you want, but nobody else? Should you bid? Which bid do you enter and where is your pain threshold? There are countless types of auctions. The best known of these are pawn auctions, estate auctions and foreclosures.