[throwaway_kufu]

Edit: sorry you were talking about my example and not the domain.

Auctions are contracts, in this case the seller (bank) agrees to accept the highest offer at the end of the expiration of the auction. So the terms are of the auction are time limited, historically the foreclosure auctions were done in person (sometimes on the courthouse steps), I’ve been at in person foreclosure auctions and the bank had a representative that ended up buying most of them (at least at the ones I attended)