We’re a group who took out a loan on four properties for our business. Unfortunately, we’ve fallen behind on payments and the bank is planning to auction them off. I’m only interested in buying back my house, not the other properties. Is there any way to negotiate with the bank before the auction to buy my house back? Could you please explain the process?

Yes, you can negotiate with the bank before the auction. You can approach the bank and propose a settlement offer for your property. However, the bank is not obligated to accept your offer and can proceed with the auction if they deem it suitable. You need to make a strong case for your offer, highlighting your financial situation and commitment to repay the debt.