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 such interface 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. For Other Questions About Auctions &...
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
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...