by Myers Jackson | Sep 10, 2022 | Terms
Market Value The highest price that a property will bring in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller, each acting prudently, knowledgeably and assuming the price is not affected by undue stimulus. Ask yourself...
by Myers Jackson | Sep 10, 2022 | Terms
Other Real Estate Owned Real property owned by a banking institution that is not directly related to its business. In balance sheet terms, OREO assets are considered non-earning assets for purposes of regulatory accounting. OREO is most frequently a result of...
by Myers Jackson | Sep 10, 2022 | Terms
Absentee Bid Remote absentee bidding is the act of placing an offer for property when an individual, a company representative and/or their agents are not physically present at the property. Auctioneer reserves the right to collect absentee bids under remote...
by Myers Jackson | Sep 10, 2022 | Terms
Livestock Marketing Association The LMA is an association committed to the support and protection of the local livestock auction markets and the livestock marketing industry. Real estate words and definition CLICK THIS BUTTON For other words and definitions...
by Myers Jackson | Sep 10, 2022 | Terms
Listing Broker A real estate broker who has a listing on a property and cooperates with the auction company by allowing the auction agreement to supersede their listing agreement. The broker commonly known as the listing broker or the buyers broker is the individual...
