by Myers Jackson | Jan 2, 2024 | Terms
Starting Bid starting bid “Starting bid,” also called “opening bid”: the amount suggested by the auctioneer to open the bidding. If no bidders are interested in bidding at that amount, the auctioneer will drop the opening bid until a bid is received. The...
by Myers Jackson | Sep 10, 2022 | Terms
Accredited Auctioneer Real Estate The professional designation awarded by the NAA Education Institute to qualified real estate auctioneers who meet the educational and experiential requirements of the Institute and who adhere to a strict code of ethics and standards...
by Myers Jackson | Sep 10, 2022 | Terms
Accounting of Sale A report issued to the seller by the auctioneer or auction company detailing the financial aspects of the auction. For all active auctions, and properties for sale CLICK THIS BUTTON Contact Get InTouch Email: 411@myersjackson.com Phone:...
by Myers Jackson | Sep 10, 2022 | Terms
Due Diligence The process of gathering information about the condition and legal status of assets to be sold. Due diligence is the responsibility of the buyer or in other words to purchase her must perform the duties of inspections, surveys, examination of title, on...
by Myers Jackson | Sep 10, 2022 | Terms
Multiple Listing Services The MLS is a suite of services that enables brokers to establish contractual offers of compensation (among brokers); facilitates cooperation with other broker participants; accumulates and disseminates information to enable appraisals; and is...
by Myers Jackson | Sep 10, 2022 | Terms
Conditions of Sale The legal terms that govern the conduct of an auction, including acceptable methods of payment, terms, buyer’s premiums, possession, reserves and any other limiting factors of an auction. Usually included in published advertisements or announced by...
