Absolute Auction
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In an Absolute Auction
once the property is offered for sale at the auction and
a bid is received, the property can not be withdrawn
from the auction and must sell for the top bid offered. |
With Reserve
Auction -
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In a With Reserve
Auction the seller places a price on the property that
must be obtained by the auctioneer in order for the
property to sell. If the "Reserve Price" is not obtained
the property does not sell. |
Seller
Confirmation Auction -
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In a Seller
Confirmation Auction the seller does not establish a
"Reserve Price" that must be obtained by the auctioneer.
The seller has the opportunity to either accept or
reject the top bid obtained by the auctioneer. If the
seller rejects the top bid, the property does not sell.
If the seller accepts the top bid, the property is
considered sold. |
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Contact Phillip Wilson,
Auctioneer to schedule an auction for your real estate
property,
or for additional information on Real Estate Auctions. |
