by Myers Jackson | Sep 10, 2022 | Terms
Preview Specified date and time property is available for prospective buyer viewing and audits. Also known as “Open House” or “Inspection”. Real estate words and definition CLICK THIS BUTTON For other words and definitions related to real estate auctions CLICK...
by Myers Jackson | Sep 10, 2022 | Terms
Absolute Auction 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.” Real estate words and definition...
by Myers Jackson | Sep 10, 2022 | Terms
Auction Price The price of a property obtained through the auction method of marketing. Real estate words and definition CLICK THIS BUTTON For other words and definitions related to real estate auctions CLICK THIS BUTTON For all active auctions, and properties...
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. Ask yourself...
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 Remote absentee bidding is the act of placing an offer for property when an individual, a company representative and/or their agents are not physically present at the property. Auctioneer reserves the right to collect absentee bids under remote...
