by Myers Jackson | Dec 7, 2024 | Terms
Reserve In real estate terms, “reserve” refers to the minimum price that a seller is willing to accept for a property being sold at auction. Contact Get InTouch Email: 411@myersjackson.com Phone: +1-844-400-2828 Phone +1-469-460-4848 Text Address:...
by Myers Jackson | Nov 30, 2024 | Terms
contract pending An auction where the property is sold to the highest qualified bidder with no limiting conditions or amount. The seller may not bid personally or through an agent. Also known as an “auction without reserve.” For all active auctions, and...
by Myers Jackson | Nov 14, 2024 | Terms
subject to confirmation A subject to confirmation or reserve auction is an auction in which the final sale price is not automatically binding until it is approved by the seller or another party, such as a reserve holder. The auctioneer or seller may set a reserve...
by Myers Jackson | Nov 14, 2024 | Terms
Paticipating Broker A real estate broker who registers a prospective buyer with the auction company, in accordance with the terms and conditions for that auction. The broker is paid a commission only if his prospect is the high bidder and successfully closes on the...
by Myers Jackson | Nov 14, 2024 | Terms
Listing Agreement A contract executed by the auctioneer and the seller which authorizes the auctioneer to conduct the auction and sets out the terms of the agreement and the rights and responsibilities of each party. Contact Get InTouch Email:...
by Myers Jackson | Nov 13, 2024 | Terms
Auction Without Reserve An auction where the property is sold to the highest qualified bidder with no limiting conditions or amount. The seller may not bid personally or through an agent. Also known as an “auction without reserve.” For all active...
