Properties owned by many sellers offered through a common promotional campaign auctioned in a single event.
Properties owned by many sellers offered through a common promotional campaign auctioned in a single event.
A group of properties offered through a common promotional campaign. The properties to be auctioned may be owned by one seller or multiple sellers.
The minimum bid is a price established by the seller below which the asset may not be sold.
The maximum bid is the most an absentee bidder is willing to bid on an item. The auction company will bid on behalf of the absentee bidder. The auction company will raise the existing bid by the proper increment and continue that process until the bidding stops or the maximum bid is reached. The auction… Continue reading MAXIMIUM BID
The highest price in terms of money that a buyer is willing, but is not under any duty, to pay for a particular property to an owner who is willing, but not obligated, to sell.
A period of time prior to the auction when prospective bidders may inspect the condition of the items available for sale.
A fee paid to an individual or entity for bringing a business deal to the auction company. The finder will often serve as an intermediary until the deal is consummated. The fee is usually based on a percentage of the profit created by the deal.
The present high bid. To become the current high bidder, you must advance the bidding by the next acceptable bid increment.
A numerical listing of items available for sale at auction, often including detailed descriptions, quantity, unit, and the terms and conditions of the auction.
An arrangement in which a real estate professional representing a potential bidder in a real estate transaction is able to earn a share of the auction company’s commission.