Nine properties across North Carolina will sell at a bank- ordered real estate auction on Aug 17 and 18, according to J. P. King Auction Company, a real estate auction marketing firm.

In a release, J. P. King said the company will conduct four events that span across two days, where they will offer commercial buildings, homes and land. The four events will take place in Spindale, Winston-Salem, Southern Pines, and Kannapolis.

"It's a great opportunity to buy a variety of properties at a fraction of the original cost," said Craig King, president and CEO of J. P. King Auction Company. "When banks acquire properties through foreclosure, they want to convert those properties back into active loans as quickly as possible, and this provides discounted rates and high values for buyers."

The first event, in Spindale, takes place on Aug. 17 at 10 a.m. A two-story home will be offered followed by six acres of development land. The land, which is zoned for a residential development, will sell absolute with no minimums and no reserves.

Two land tracts and five homes will be offered at the Kannapolis event, including 52 acres in The Falls Subdivision and 42 acres at 412 Village Park. This event will be held at the Holiday Inn in Salisbury at 3 p.m.

In Winston-Salem, J. P. King will offer an 11,000 square-foot commercial building fronting Reidsville Road. This brick building sits on 1.5 acres and will be auctioned at 10 a.m. on Aug. 18. At 3 p.m. in Southern Pines, a large commercial building, formerly an indoor golf facility, will sell on-site at 110 Pinehurst Avenue.

J. P. King Auction Company specializes in high-value properties and portfolios such as luxury homes, developments, condominiums, land and ranches. The company has marketed properties in all 50 states and six countries with recent sales in Texas, Florida, Tennessee, Oregon, Wisconsin, Alabama and Wyoming. This sale is conducted through its asset division, which serves corporate clients, financial institutions and government entities in the disposition of strategic assets.