by Myers Jackson | Sep 10, 2022 | Terms
Terms and Conditions The printed rules of the auction and certain aspects of the Purchase & Sale Agreement that are read and/or distributed to potential bidders prior to an auction sale. Real estate words and definition CLICK THIS BUTTON For other words...
by Myers Jackson | Sep 10, 2022 | Terms
Carrying Charges The costs involved in holding a property that is intended to produce income (either by sale or rent) but has not yet done so, i.e., insurance, taxes, maintenance, management. Also known as “holding costs”. Real estate words and definition CLICK...
by Myers Jackson | Sep 10, 2022 | Terms
Tax Sale Public sale of property at auction by governmental authority due to nonpayment of property taxes. Real estate words and definition CLICK THIS BUTTON For other words and definitions related to real estate auctions CLICK THIS BUTTON For all active...
by Myers Jackson | Sep 10, 2022 | Terms
Caravan Auctions A series of on-site auctions advertised through a common promotional campaign. Auctioneers successfully use caravan auctions to drive from place to place selling different types of real property. There will be different structures, dwellings, homes,...
by Myers Jackson | Sep 10, 2022 | Terms
Memorandum Also referred to as a “Bidder Acknowledgment,” or “Broker Acknowledgment,” the memorandum is signed by those parties either on the auction floor or in the contract room. Auctioneers will post prior to the auction a document called the “memorandum of bid“ or...
