Listing Info
LISTING INFO
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...
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...
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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...
Lock-In Rate
Lock-In Rate A written agreement guaranteeing a specific mortgage interest rate for a certain amount of time. Real estate words and definition For other words and definitions related to real estate auctions For all active auctions, and properties for sale...
Loan-To-Value (LTV) Ratio
Loan-To-Value (LTV) Ratio The relationship between the loan amount and the value of the property (the lower of appraised value or sales price), expressed as a percentage of the property’s value. For example, a $100,000 home with an $80,000 mortgage has an LTV of 80...
Closing Costs
Closing COSTS The upfront fees charged in connection with a mortgage loan transaction. Money paid by a buyer (and/or seller or other third party, if applicable) to effect the closing of a mortgage loan, generally including, but not limited to a loan origination fee,...
Loan Origination Fees
Loan Origination Fees Fees paid to your mortgage lender or broker for processing the mortgage application. This fee is usually in the form of points. One point equals one percent of the mortgage amount. Real estate words and definition For other words and...
Loan Origination
Loan Origination The process by which a loan is made, which may include taking a loan application, processing and underwriting the application, and closing the loan. Real estate words and definition For other words and definitions related to real estate auctions...
Liquid Asset
Liquid Asset A cash asset or an asset that is easily converted into cash. 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 Agent
Closing Agent The person or entity that coordinates the various closing activities, including the preparation and recordation of closing documents and the disbursement of funds. (May be referred to as an escrow agent or settlement agent in some jurisdictions.)...
Lifetime Cap
Lifetime Cap For an adjustable-rate mortgage (ARM), a limit on the amount that the interest rate or monthly payment can increase or decrease over the life of the loan. Real estate words and definition For other words and definitions related to real estate...
Closing
Closing The process of completing a financial transaction. For mortgage loans, the process of signing mortgage documents, disbursing funds, and, if applicable, transferring ownership of the property. In some jurisdictions, closing is referred to as “escrow,” a process...
Lien
Lien A claim or charge on property for payment of a debt. With a mortgage, the lender has the right to take the title to your property if you don’t make the mortgage payments. Real estate words and definition For other words and definitions related to real...
Clear Title
Clear Title Ownership that is free of liens, defects, or other legal encumbrances. 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:...
LIBOR-Index
LIBOR-Index An index used to determine interest rate changes for certain adjustable-rate mortgage (ARM) plans, based on the average interest rate at which international banks lend to or borrow funds from the London Interbank Market. Real estate words and...