Listing Info
LISTING INFO
5376 Lake Chelen Dr., Fort Worth TX 76137
What does auction mean for 5376 Lake Chelen Dr., Fort Worth TX 76137 The auction process to manage real estate sales. Multiple offers with increased transparency. The only losers are those who do not place a bid. SOLD & CLOSED 5376 Lake Chelen Dr., Fort Worth TX 76137 House SOLD at Auction...
855 Prairie Creek Dr., Grand Prairie TX 75052
What does auction mean for 855 Prairie Creek Dr., Grand Prairie TX 75052 The auction process to manage real estate sales. Multiple offers with increased transparency. The only losers are those who do not place a bid. Contract Pending For more information about pending contracts Grand Prairie TX...
What is an unfair advantage in bidding?
If a group of people conspire against the seller to suppress the bidding in any process is unfair in the fact that some may be discouraged to participate. In an instance that any Real Estate Professional and their buyers disparages the process or any group of real estate agent under the control of...
What does it cost to sell something at your auction?
Talk to the Auctioneer about the fees, commissions and other costs associated with selling real property. 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 forms of payment do you accept at your auctions?
Cash, Wire Transfer Guarantee Letters may be acceptable from of payment. See the Terms and Conditions of Sale for what may be accepted for each auction. Remember an individual auction is a sperate sale and terms are most certainly different each time. For Other Questions About...
Can I offer less than what I see has been offered?
Buyers’ choice to bid what they prefer is viable and may be entertained. Present the auctioneer with the bid and see what happens. For Other Questions About Auctions & Auctioneers For all active auctions and properties for sale For other words and definitions related to real...
Is there something wrong with the property?
Having a property sold at auction is not necessary a desperation move. Would the MONA LISA sell from desperation… well NO. So, think about why real estate would he sold by an auctioneer. The simple answer is the seller deserves competitive offers, public awareness and an open marketplace...
How much should I offer for the property?
The amount offered is a decision for the buyer. The buyer may gain assistance from an appraiser, real estate agent, retain a broker price opinion or consider valuation models to help determine the price the buyer would pay. Ultimately, it is the buyers own decision to offer the price they are...
Can I inspect the property?
The Uniform Commercial Code provides for reasonable inspection. In most cases the auctioneer will open the property in advance for such inspection. Inspection periods may take places with a scheduled appointment by contractors, licensed inspectors, agents or the buyer may perform their own due...
What is Match The BID?
When the seller observes the bidding process, at t any point the seller may accept the bid as presented. If the bid is less than the reserve, the seller, upon such observation the seller may order the auctioneer to reduce the reserve and match the highest bid ultimately authorizing the sale at...
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Credit
Credit The ability of a person to borrow money, or buy goods by paying over time. Credit is extended based on a lender’s opinion of the person’s financial situation and reliability, among other factors. Real estate words and definition For other words and...
Counter-offer
Counter-offer An offer made in response to a previous offer. For example, after the buyer presents their first offer, the seller may make a counter-offer with a slightly higher sale price. Real estate words and definition For other words and definitions related...
Cost of Funds Index (COFI)
Cost of Funds Index (COFI) An index that is used to determine interest rate changes for certain adjustable-rate mortgage (ARM) loans. It is based on the weighted monthly average cost of deposits, advances, and other borrowings of members of the Federal Home Loan Bank...
Cooperative (Co-op) Project
Cooperative (Co-op) Project A project in which a corporation holds title to a residential property and sells shares to individual buyers, who then receive a proprietary lease as their title. Real estate words and definition For other words and definitions...
Convertible ARM
Convertible ARM An adjustable-rate mortgage (ARM) that allows the borrower to convert the loan to a fixed-rate mortgage under specified conditions. Real estate words and definition For other words and definitions related to real estate auctions For all active...
Conversion Option
Conversion Option A provision of some adjustable-rate mortgage (ARM) loans that allows the borrower to change the ARM to a fixed-rate mortgage at specified times after loan origination. Real estate words and definition For other words and definitions related to...
Conventional Mortgage
Conventional Mortgage A mortgage loan that is not insured or guaranteed by the federal government or one of its agencies, such as the Federal Housing Administration (FHA), the U.S. Department of Veterans Affairs (VA), or the Rural Housing Service (RHS). Contrast with...
Mutual Funds
Mutual Funds A fund that pools the money of its investors to buy a variety of 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 InTouchEmail:...
Contingency
Contingency A condition that must be met before a contract is legally binding. For example, home purchasers often include a home inspection contingency; the sales contract is not binding unless and until the purchaser has the home inspected. Real estate words...
Construction Loan
Construction Loan A loan for financing the cost of construction or improvements to a property; the lender disburses payments to the builder at periodic intervals during construction. Real estate words and definition For other words and definitions related to...
Condominium
Condominium A unit in a multiunit building. The owner of a condominium unit owns the unit itself and has the right, along with other owners, to use the common areas but does not own the common elements such as the exterior walls, floors and ceilings or the structural...
Concession
Concession Something given up or agreed to in negotiating the sale of a house. For example, the sellers may agree to help pay for closing costs. Real estate words and definition For other words and definitions related to real estate auctions For all active...
Comparables
Comparables An abbreviation for “comparable properties,” which are used as a comparison in determining the current value of a property that is being appraised. Real estate words and definition For other words and definitions related to real estate auctions For...
Multiple Listing Service (MLS)
Multiple Listing Service (MLS) A clearinghouse through which member real estate brokerage firms regularly and systematically exchange information on listings of real estate properties and share commissions with members who locate purchasers. The MLS for an area is...
Common Areas
Common Areas Those portions of a building, land, or improvements and amenities owned by a planned unit development (PUD) or condominium project’s homeowners’ association (or a cooperative project’s cooperative corporation) that are used by all of the unit owners, who...
Multifamily Properties
Multifamily Properties Typically, buildings with five or more dwelling units. 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:...
Commitment Letter
Commitment Letter A binding offer from your lender that includes the amount of the mortgage, the interest rate, and repayment terms. Real estate words and definition For other words and definitions related to real estate auctions For all active auctions, and...
Collateral
Collateral An asset that is pledged as security for a loan. The borrower risks losing the asset if the loan is not repaid according to the terms of the loan agreement. In the case of a mortgage, the collateral would be the house and real property. Real estate...
Multifamily Mortgage
Multifamily Mortgage A mortgage loan on a building with five or more dwelling units. 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:...
Assumption
Assumption A homebuyer’s agreement to take on the primary responsibility for paying an existing mortgage from a home seller. Real estate words and definition For other words and definitions related to real estate auctions For all active auctions, and properties...