Seven Hills Auctions opens online sale of 28 bank-owned properties

Seven Hills Auctions launched bidding on 28 bank-owned and institution-direct properties across eight states, with the online auction set to close Aug. 18 at noon EDT. The lineup spans homes, commercial buildings and land, giving buyers access to distressed assets from banks, private equity funds and other motivated sellers.

Why it matters: - The auction puts a multistate pool of distressed real estate in front of buyers at once, which can create pricing pressure and faster sales. - The mix of property types widens the buyer base, from homeowners and small investors to commercial and bulk-lot buyers. - The no-reserve townhome package signals that some assets may clear quickly if bidding is active.

What happened: - Seven Hills Auctions opened bidding on its August Auction Showcase, an online-only sale featuring 28 properties. - The auction includes assets in Alabama, Florida, Georgia, Illinois, Mississippi, South Carolina, Tennessee and Texas. - Bidding is open now at 7hauctions.com and ends Aug. 18, 2026, at 12:00 p.m. EDT. - The properties are being sold by direct order of super regional banks, private equity funds and other motivated sellers.

The details: - The portfolio includes single-family homes, commercial and retail buildings, a restaurant building, a former convenience store and carwash, and development-ready land parcels. - The auction includes a 16-lot townhome package offered with no reserve. - Most of the properties are bank owned. - The auction carries a 10% buyer’s premium. - Broker compensation is available for qualified, licensed real estate brokers. - Buyers can view property details, due diligence materials and register to bid at the auction site or by calling 800-742-9165.

Between the lines: - Buddy Lee, president of Seven Hills Auctions, framed the sale as a chance for buyers to access inventory that banks and institutions want sold now. - The online-only structure removes geography from the bidding process and can broaden participation beyond local buyers. - The spread across eight states suggests the seller base is using auction channels to move assets that may not be a fit for traditional listing timelines.

What's next: - Interested buyers have until Aug. 18 at noon EDT to complete registration and bid. - Seven Hills Auctions is encouraging bidders to review due diligence materials before the auction closes. - More information is available at 7hauctions.com or by phone at 800-742-9165.

The bottom line: - Seven Hills Auctions is using an online auction to move a broad, bank-heavy real estate portfolio across the Southeast and Midwest in a compressed timeframe.