by Myers Jackson | Sep 10, 2022 | Terms
Tax Sale Public sale of property at auction by governmental authority due to nonpayment of property taxes. Real estate words and definition CLICK THIS BUTTON For other words and definitions related to real estate auctions CLICK THIS BUTTON For all active...
by Myers Jackson | Sep 10, 2022 | Terms
Caravan Auctions A series of on-site auctions advertised through a common promotional campaign. Auctioneers successfully use caravan auctions to drive from place to place selling different types of real property. There will be different structures, dwellings, homes,...
by Myers Jackson | Sep 10, 2022 | Terms
Memorandum Also referred to as a “Bidder Acknowledgment,” or “Broker Acknowledgment,” the memorandum is signed by those parties either on the auction floor or in the contract room. Auctioneers will post prior to the auction a document called the “memorandum of bid“ or...
by Myers Jackson | Sep 10, 2022 | Terms
Buyer’s Premium An advertised percentage of the high bid or flat fee added to the high bid to determine the total contract price to be paid by the buyer. A buyers premium was first used in England by what some people say was CRISTI‘s Auction house. This was a fee that...
by Myers Jackson | Sep 10, 2022 | Terms
Uniform Standards of Professional Appraisal Practice USPAP can be considered the quality control standards applicable for real property, personal property, intangibles and business valuation appraisal analysis and reports in the U.S. and its territories. USPAP was...
by Myers Jackson | Sep 10, 2022 | Terms
Buyer’s Broker A real estate broker who represents the buyer and, as the agent of the buyer, is normally paid for his/her services by the buyer. Real estate words and definition CLICK THIS BUTTON For other words and definitions related to real estate auctions...
