Mortgagee sales.... selling before auction?

maybe the bank hadn't atually taken thehouse, they had just told the owner they were going to be foreclosed so the owner told the agent that, the agent thought cool I will create some interest by marketing it as a mortgagee sale. An offer came along that got the owner out of hot water and the rest is history.
 
maybe the bank hadn't atually taken thehouse, they had just told the owner they were going to be foreclosed so the owner told the agent that, the agent thought cool I will create some interest by marketing it as a mortgagee sale. An offer came along that got the owner out of hot water and the rest is history.

That doesnt exactly sound legal though....
 
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