Bank Sale Pivot
Biddeford, ME - April 2020
Tranzon was conducting a foreclosure auction of a Maine oceanfront property for a regional lender and long-time client. It was scheduled for early April, just as Coronavirus concerns were peaking in the US. Interest in the property was very high, but the requisite live auction was a risk, and bidders might be understandably reluctant to attend. Postponement was one option, but there was no telling when the sale could be rescheduled.