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. Real estate words and definition CLICK THIS BUTTON For other words and definitions related to real estate auctions CLICK THIS...
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. In other words, to purchase real property one must perform the duties of inspections, surveys, examination...
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...
by Myers Jackson | Sep 10, 2022 | Terms
Multi-Seller Auction Properties owned by multiple sellers, offered through a common promotional campaign and auctioned in a single event. 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
Multi-Property Auction A group of properties offered through a common promotional campaign. The properties to be auctioned may be owned by one seller or multiple sellers. Real estate words and definition CLICK THIS BUTTON For other words and definitions related...
