The phrase "auction property" is correct and usable in written English.
It can be used when referring to a property that is being sold through an auction process.
Example: "The auction property was listed online, attracting numerous potential buyers eager to place their bids."
Alternatives: "property for auction" or "property being auctioned".
This fall Sotheby's will auction property from his estate, featuring works by Giacometti, Calder, O'Keeffe and Rivera.
In April 2002, after lawmakers refused to provide money for the program, a justice in the state's highest court, Martha B. Sosman, ordered the state to auction property for the program or repeal it.
After completing legal default proceedings, banks typically auction properties on the steps of county courthouses.
In the past, developers and individual homeowners were loath to auction properties because of the air of desperation associated with the process.
He planned to contact the bidders, as well as those who had attended open houses in advance to view auction properties, to gauge further interest.
And, while all auction properties were once derelict places in need of severe renovation, these days private sellers with nicely turned-out homes are risking a sale by auction.
Four individual sellers confirmed plans to auction properties at 555 West 23rd Street in Chelsea; the Millennium Tower Residences at 30 West Street in Battery Park City Placee 57 at 207 East 57th Street; and 325 Fifth Avenue at West 32nd Street.
"Watch the people sizing each other up: it's like, 'Hmm,' " said Barbara Corcoran, president of the Corcoran Group, a Manhattan real estate company, which plans to auction properties solely on the Internet.
Ebay started a real estate division in August 2000 that auctions property and time shares.
The growing popularity of online auctions is changing all that, commonly doubling and tripling the amounts that states receive for auctioned property.
But in recent months, when mortgages started going bad and foreclosures multiplied, several lenders contacted the company's officers and asked if they could get back into the business of auctioning properties.
