by Myers Jackson | Jan 5, 2025 | Auction News
What is the dominant strategy of an auction? The dominant strategy is to bid your true value—exactly what the object is worth to you. Figure out what an appropriate market value or what a price you as the buyer is willing to pay. Gain help from a Real Estate Agent,...
by Myers Jackson | Jan 5, 2025 | Auction News
What is the most likely reason to lose a bid? Non-compliance is a common reason for losing a bid. Missing details from the buyer’s registration, false proof of funds, refusal to comply with the Terms and Conditions of Sale. If the buyer’s agent does not properly...
by Myers Jackson | Jan 5, 2025 | Auction News
Do I get clear and insurable title? The buyer is responsible for the title policy if the transaction is insurable. All property is offered “As Is” and “Where Is” with no guarantee or warranty, expressed or implied. Information about known...
by Myers Jackson | Jan 5, 2025 | Auction News
When there is cash or no financing contingency, can I still bid? Yes, you can still bid. A cash offer might seem better to some, but waiving the financing contingency can also be attractive. However, forfeiting deposits or other contingencies can introduce risks....
by Myers Jackson | Jan 5, 2025 | Auction News
Is it true that sellers don’t always pick the highest offer? Sellers don’t always pick the highest offer. For instance, an offer well above the asking price with a 5% down payment might be rejected if the property doesn’t appraise at the proposed purchase price. How...
by Myers Jackson | Jan 5, 2025 | Auction News
What are aggressive bidding strategies? We define multiple aggressive bidding strategies: MAX BIDDING TOOL, high opening bid, high bid increase (jump bids), short acceptance deadline with collectable funds at the BID AWARD. Some bidders want to end the bidding...
