Listing Info
LISTING INFO
Does the bidding start at a certain price?
Not always. If no minimum is announced, bidding starts at the starting bid or the initial offer. For Other Questions About Auctions & Auctioneers For all active auctions and properties for sale For other words and definitions related to real estate auctionsContactGet...
What is a minimum bid?
The announced starting amount for bidding. Minimum bids are different from starting bids. The sellers agrees to accept the price at which the minimum bid has been set. For Other Questions About Auctions & Auctioneers For all active auctions and properties for sale For other words...
How do I know if an auction is absolute?
It will explicitly state "absolute" in the auction listing. The Uniform Commercial Code 2-328 states that an auction is presumed to be an auction with reserve unless stated absolute or without minimum bid. For Other Questions About Auctions & Auctioneers For all active auctions...
What does “As Is, Where Is” mean?
You are buying the property in its current condition with no guarantees. Read the Terms and Conditions of Sale in completeness. For Other Questions About Auctions & Auctioneers For all active auctions and properties for sale For other words and definitions related to real estate...
What is an “absolute auction”?
An absolute auction means the property will sell to the highest bidder regardless of price. However, there are rules that govern the offer and acceptance in strict dictation of the The Uniform Commercial Code 2-328. For Other Questions About Auctions & Auctioneers For all active...
What if I am a broker?
Licensed brokers can earn participation fees by registering clients in advance in accordance with the Terms and Conditions of Sale. For Other Questions About Auctions & Auctioneers For all active auctions and properties for sale For other words and definitions related to real...
I cannot make it to the sale in person. Can I bid online? If so, how?
Many auctions offer online or telephone bidding. Check the auction terms for details. For Other Questions About Auctions & Auctioneers For all active auctions and properties for sale For other words and definitions related to real estate auctionsContactGet InTouchEmail:...
If I scratch my nose, stretch, or wave at a friend, will the auctioneer think I’m bidding?
It’s possible, but skilled auctioneers can recognize true bids. Auctioneers are trained to seek bids but verify authenticity. For Other Questions About Auctions & Auctioneers For all active auctions and properties for sale For other words and definitions related to real estate...
Can I register online?
Yes, through the online platform used for the specific auction. It may be required that additional information or paper registration at a site location for a live or physical sale. For Other Questions About Auctions & Auctioneers For all active auctions and properties for sale...
Does it cost anything to register or attend the auction?
Most auctions do not charge a fee to attend. The Terms and Conditions of the Auction will dictate the payment, if any. Other forms of verification may take place, such as credit card minimal charge to authenticate identification. For Other Questions About Auctions & Auctioneers...
Our Latest Listings
Mortgagor
Mortgagor The owner of real estate who pledges property as security for the repayment of a debt; the borrower. Real estate words and definition For other words and definitions related to real estate auctions For all active auctions, and properties for sale...
Co-borrower
Co-borrower Any borrower other than the first borrower whose name appears on the application and mortgage note, even when that person owns the property jointly with the first borrower and shares liability for the note. Real estate words and definition For other...
Mortgagee
Mortgagee The institution or individual to whom a mortgage is given. Real estate words and definition For other words and definitions related to real estate auctions For all active auctions, and properties for sale ContactGet InTouchEmail: 411@myersjackson.com...
Mortgage Rate
Mortgage Rate The interest rate you pay to borrow the money to buy your house. Real estate words and definition For other words and definitions related to real estate auctions For all active auctions, and properties for sale ContactGet InTouchEmail:...
Closing Statement
Closing Statement See “HUD-1 Settlement Statement.” Real estate words and definition For other words and definitions related to real estate auctions For all active auctions, and properties for sale ContactGet InTouchEmail: 411@myersjackson.com Phone:...
Mortgage Life Insurance
Mortgage Life Insurance A type of insurance that will pay off a mortgage if the borrower dies while the loan is outstanding; a form of credit life insurance. Real estate words and definition For other words and definitions related to real estate auctions For all...
Mortgage Lender
Mortgage Lender The lender providing funds for a mortgage. Lenders also manage the credit and financial information review, the property and the loan application process through closing. Real estate words and definition For other words and definitions related to...
Closing Date
Closing Date The date on which the sale of a property is to be finalized and a loan transaction completed. Often, a real estate sales professional coordinates the setting of this date with the buyer, the seller, the closing agent, and the lender. Real estate...
Mortgage Insurance Premium (MIP)
Mortgage Insurance Premium (MIP) The amount paid by a borrower for mortgage insurance, either to a government agency such as the Federal Housing Administration (FHA) or to a private mortgage insurance (PMI) company. Real estate words and definition For other...
Mortgage Insurance (MI)
Mortgage Insurance (MI) Insurance that protects lenders against losses caused by a borrower’s default on a mortgage loan. MI typically is required if the borrower’s down payment is less than 20 percent of the purchase price. Real estate words and definition For...
Mortgage Broker
Mortgage Broker An individual or firm that brings borrowers and lenders together for the purpose of loan origination. A mortgage broker typically takes loan applications and may process loans. A mortgage broker also may close the loan. Real estate words and...
Mortgage
Mortgage A loan using your home as collateral. In some states the term mortgage is also used to describe the document you sign (to grant the lender a lien on your home). It also may be used to indicate the amount of money you borrow, with interest, to purchase your...
Money Market Account
Money Market Account A type of investment in which funds are invested in short-term securities. Real estate words and definition For other words and definitions related to real estate auctions For all active auctions, and properties for sale ContactGet...
Modification
Modification Any change to the terms of a mortgage loan, including changes to the interest rate, loan balance, or loan term. Real estate words and definition For other words and definitions related to real estate auctions For all active auctions, and properties...
Merged Credit Report
Merged Credit Report A credit report issued by a credit reporting company that combines information from two or three major credit bureaus. Real estate words and definition For other words and definitions related to real estate auctions For all active auctions,...
Maturity Date
Maturity Date The date on which a mortgage loan is scheduled to be paid in full, as stated in the note. Real estate words and definition For other words and definitions related to real estate auctions For all active auctions, and properties for sale ContactGet...
Market Value
Market Value The current value of your home based on what a purchaser would pay. An appraisal is sometimes used to determine market value. Real estate words and definition For other words and definitions related to real estate auctions For all active auctions,...
Margin
Margin A percentage added to the index for an adjustable-rate mortgage (ARM) to establish the interest rate on each adjustment date. Real estate words and definition For other words and definitions related to real estate auctions For all active auctions, and...
Manufactured Housing
Manufactured Housing Homes that are built entirely in a factory in accordance with a federal building code administered by the U.S. Department of Housing and Urban Development (HUD). Manufactured homes may be singleor multi-section and are transported from the factory...
Low-Down-Payment Feature
Low-Down-Payment Feature A feature of some mortgages, usually fixed-rate mortgages, that helps you buy a home with a low down payment. Real estate words and definition For other words and definitions related to real estate auctions For all active auctions, and...