Listing Info
LISTING INFO
Can the agent bid for me?
Only under strict authorization with power of attorney give permission for an agent to bid for a buyer. If the agent bids outside of these bound the agent is responsible for the actions taken to bid on the property and must fulfill the obligations as the bidder. For Other Questions...
Can I stop other people from bidding?
No you cannot. In fact, such interference is prohibited. The Department of Justice pursues criminal actions for this behavior that includes bid suppression, bid rigging, payoffs, conspiracy, or any conspiracy to interfere with any portion of the auction process. Imagine if you and another buyer...
Does a real estate agent get paid a commission or BAC?
In most cases, yes. A Real Estate Broker or the Brokers Agent must announce the buyer in advance. In most cases there are forms or a certain procedure that is required. Procuring cause must be proved to receive compensation. For Other Questions About Auctions & Auctioneers For...
What is a Buyer Premium Concession?
This means a discount will be taken in account and announced by the Auctioneer. The announcement may be made prior to the initiation of the bidding. The Terms and Conditions may change with the Auctioneers Announcement. BUYER PREMIUM EXAMPLE: Assume $500,000 is the last bid = $25,000 buyer premium...
How do I access the reserve?
By initiating a bid online, a notification will be sent to the bidder. In other portions of the sale the auctioneer may make verbal announcements to indicate if the reserve has been met. Otherwise, the reserve is a confidential number and must not release unless the seller gives written authority....
What is the cheapest price that I can offer?
The minimum or lowest bid increment as indicated in the bidding platform when online bidding is in progress. For Other Questions About Auctions & Auctioneers For all active auctions and properties for sale For other words and definitions related to real estate auctionsContactGet...
Can I make an offer to buy prior to the auction?
Yes, but the seller often prefers to go through the auction process. 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: 411@myersjackson.com...
Will there be an open house preview?
Open house previews are typically scheduled for improved properties. 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: 411@myersjackson.com...
Where will the auction be held? (Date, Time, & Place)
The auction listing provides the location, date, and time. 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: 411@myersjackson.com Phone:...
Who is selling the property, and why are they selling?
Properties are sold for various reasons: estate liquidations, business dissolutions, downsizing, or ease of sale. For Other Questions About Auctions & Auctioneers For all active auctions and properties for sale For other words and definitions related to real estate...
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...