by Chris
on November 12, 2008
During the auction
Here are the terms you must know to understand what’s going on during the auction.
Reserve price – the vendor has set a minimal price that he would be willing to sell for. The auctioneer doesn’t reveal this price so nobody knows what it is.
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by Chris
on November 8, 2008
Even now, when the real estate market is slowing down, at least 50% of the houses are sold at auctions. This means that any home buyer should know exactly what to do at auction, what are the rules, understand and speak the language of auctions. Before I knew all the things you are about to learn, auctions scared the daylight out of me. Especially because of the huge amounts of money involved – every silly mistake can cost you a lot.
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