by Myers Jackson | Sep 10, 2022 | Terms
Regroup A process used in real estate auctions where a bidder has the opportunity to combine several parcels of land previously selected by other bidders, thereby creating one larger parcel out of several smaller parcels. This process is often used in conjunction with...
by Myers Jackson | Sep 10, 2022 | Terms
Referring Broker A real estate broker who does not have a listing on a property but refers the auction company to a potential seller for an auction. Usually earns a flat fee commission for referring product to an auction company. Contact Get InTouch Email:...
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*...
