by Myers Jackson | Sep 10, 2022 | Terms
Master Personal Property Appraiser A professional designation awarded by the NAA Education Institute to help professional auctioneers learn the responsibilities of appraising assets. Designees are taught to conduct a complete and appropriate appraisal, as well as...
by Myers Jackson | Sep 10, 2022 | Terms
Uniform Commerical Code Adopted in unison by 49 states with exception of Louisiana whose rules are just slightly different. Uniform Commerical Code (UCC) 2-328 , Auction Rules and Law , Governs auctions and uniform acts that have been promulgated by states. Texas...
by Myers Jackson | Sep 10, 2022 | Terms
Reserve What does reserve when selling at auction or real estate. personal property, farm, ranch house, car The minimum price that a seller is willing to accept for a property to be sold at auction. Also known as “reserve price”. The reserve price is...
by Myers Jackson | Sep 10, 2022 | Terms
Bookkeeper or Clerk The individual responsible for the accounting and paperwork at an auction sale. 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...
by Myers Jackson | Sep 10, 2022 | Terms
Regroup A process used in real estate auctions where a bidder has the opportunity to combine several parcels of land previously selected by other bidders, thereby creating one larger parcel out of several smaller parcels. This process is often used in conjunction with...
