by Myers Jackson | Sep 10, 2022 | Terms
Market Value The highest price that a property will bring in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller, each acting prudently, knowledgeably and assuming the price is not affected by undue stimulus. ...
by Myers Jackson | Sep 10, 2022 | Terms
Other Real Estate Owned Real property owned by a banking institution that is not directly related to its business. In balance sheet terms, OREO assets are considered non-earning assets for purposes of regulatory accounting. OREO is most frequently a result of...
by Myers Jackson | Sep 10, 2022 | Terms
Absentee Bid A procedure that allows a bidder to participate in the bidding process without being physically present. Generally, a bidder submits an offer on an item prior to the auction. Absentee bids are usually handled under an established set of guidelines by the...
by Myers Jackson | Sep 10, 2022 | Terms
Livestock Marketing Association The LMA is an association committed to the support and protection of the local livestock auction markets and the livestock marketing industry. Contact Get InTouch Email: 411@myersjackson.com Phone: +1-844-400-2828 Phone...
by Myers Jackson | Sep 10, 2022 | Terms
Listing Broker A real estate broker who has a listing on a property and cooperates with the auction company by allowing the auction agreement to supersede their listing agreement. Contact Get InTouch Email: 411@myersjackson.com Phone: +1-844-400-2828 Phone...
by Myers Jackson | Sep 10, 2022 | Terms
JUMP BID It is a bidding strategy by which a bidder increases the bid by more than the next accepted bid (such as placing your bid at $150 when the next accepted bid is $125). This practice is used by some bidders to discourage others from bidding in hopes of...
