by Myers Jackson | Sep 10, 2022 | Terms
Tie Bids When two or more bidders bid exactly the same amount at the same time. This must be resolved by the auctioneer. Real estate words and definition CLICK THIS BUTTON For other words and definitions related to real estate auctions CLICK THIS BUTTON For all...
by Myers Jackson | Sep 10, 2022 | Terms
Caveat Emptor A Latin term meaning “let the buyer beware.” A legal maxim stating that the buyer takes the risk regarding quality or condition of the property purchased, unless protected by warranty. This Latin term caveat emptor puts buyers on notice. It is telling...
by Myers Jackson | Sep 10, 2022 | Terms
Cooperating Broker A real estate broker who registers a prospective buyer with the auction company, in accordance with the terms and conditions for that auction. The broker is paid a commission only if his prospect is the high bidder and successfully closes on the...
by Myers Jackson | Sep 10, 2022 | Terms
Withdrawl Failure to reach the reserve price or insufficient bidding. Real estate words and definition CLICK THIS BUTTON For other words and definitions related to real estate auctions CLICK THIS BUTTON For all active auctions, and properties for sale CLICK...
by Myers Jackson | Sep 10, 2022 | Terms
Catalog or Brochure A publication advertising and describing the property(ies) available for sale at public auction, often including photographs, property descriptions and the terms and conditions of the sale. Real estate words and definition CLICK THIS BUTTON...
