by Myers Jackson | Sep 10, 2022 | Terms
Bid Rigging The unlawful practice whereby two or more people agree not to bid against one another so as to deflate value. See “Collusion”. Real estate words and definition CLICK THIS BUTTON For other words and definitions related to real estate auctions CLICK...
by Myers Jackson | Sep 10, 2022 | Terms
Bid Caller The person who actually “calls,” “cries” or “auctions” the property at an auction, recognizing bidders and acknowledging the highest bidder. Commonly known as the auctioneer. Real estate words and definition CLICK THIS BUTTON For other words and...
by Myers Jackson | Sep 10, 2022 | Terms
Bid Assistants Individuals of a live auction team whose primary responsibility is to accurately interpret and effectively communicate buyer participation to their auctioneer. They should also be qualified to assist prospective bidders with the necessary information to...
by Myers Jackson | Sep 10, 2022 | Terms
Bid Acknowledgment A form executed by the high bidder confirming and acknowledging the bidder’s identity, the bid price and the description of the property. Also known as “Memorandum.” Real estate words and definition CLICK THIS BUTTON For other words and...
by Myers Jackson | Sep 10, 2022 | Terms
Bid A prospective buyer’s indication or offer of a price they are willing to pay to purchase property at auction. Bids are usually in standardized increments established by the auctioneer. Real estate words and definition CLICK THIS BUTTON For other words and...
