by Myers Jackson | Sep 10, 2022 | Terms
Bidder’s Choice A method of sale whereby the successful high bidder wins the right to choose an asset or assets from a grouping of similar or like-kind assets. After the high bidder’s selection, the asset is deleted from the group, and the second round of bidding...
by Myers Jackson | Sep 10, 2022 | Terms
Real Estate Owned (REO) REO is a class of property owned by a lender, typically a bank, after an unsuccessful sale at a foreclosure auction. A bank will typically set the opening bid at a foreclosure auction for at least the outstanding loan amount. If there are no...
by Myers Jackson | Sep 10, 2022 | Terms
Bidder Package The package of information and instructions pertaining to the property to be sold at an auction event obtained by prospective bidders at an auction. Also referred to as “bidder packet” or “due diligence packet.” Contact Get InTouch Email:...
by Myers Jackson | Sep 10, 2022 | Terms
Bidder Number The number issued to each person who registers at an auction. Contact Get InTouch Email: 411@myersjackson.com Phone: +1-844-400-2828 Phone +1-469-460-4848 Text Address: Myers Jackson P.O. Box 2014, Grapevine, TX 76099 Name* First Last Email*...
by Myers Jackson | Sep 10, 2022 | Terms
Real Estate Real estate, also known as real property, is a legal term that encompasses land along with improvements to the land, such as buildings, fences, wells and other site improvements that are fixed in location — immovable. Contact Get InTouch Email:...
by Myers Jackson | Sep 10, 2022 | Terms
Bid Rigging The unlawful practice whereby two or more people agree not to bid against one another so as to deflate value. See “Collusion”. Contact Get InTouch Email: 411@myersjackson.com Phone: +1-844-400-2828 Phone +1-469-460-4848 Text Address: Myers Jackson...
