It has already happen. Look what happen in 08. The banks did the foreclosures and then just sat on the properties or sold them in mass to someone else. There wasn’t any auctions on the courthouse steps for the local populace to bid only a dollar.

No. The auctions wouldn’t happen in person but online. Some reit or foreign money or both will bid more than the locals could afford.

It might be the beer I am drinking but am I the only one that thought a lot of the lets should be const?

Stocks on the Nasdaq and the rest of the USA exchanges are at T+1, transaction date plus one day. So they settle the next business day not in 2 to 3 days like you mentioned.