by Myers Jackson | Jan 6, 2025 | Auction News
Does the bidding start at a certain price? Not always. If no minimum is announced, bidding starts at the starting bid or the initial offer. For Other Questions About Auctions & Auctioneers CLICK THIS LINK For all active auctions and properties for...
by Myers Jackson | Jan 6, 2025 | Auction News
What is a minimum bid? The announced starting amount for bidding. Minimum bids are different from starting bids. The sellers agrees to accept the price at which the minimum bid has been set. For Other Questions About Auctions & Auctioneers CLICK...
by Myers Jackson | Jan 6, 2025 | Auction News
How do I know if an auction is absolute? It will explicitly state “absolute” in the auction listing. The Uniform Commercial Code 2-328 states that an auction is presumed to be an auction with reserve unless stated absolute or without minimum bid. ...
by Myers Jackson | Jan 6, 2025 | Auction News
What does "As Is, Where Is" mean? You are buying the property in its current condition with no guarantees. Read the Terms and Conditions of Sale in completeness. For Other Questions About Auctions & Auctioneers CLICK THIS LINK For all active...
by Myers Jackson | Jan 6, 2025 | Auction News
What is an "absolute auction"? An absolute auction means the property will sell to the highest bidder regardless of price. However, there are rules that govern the offer and acceptance in strict dictation of the The Uniform Commercial Code 2-328. For...
