ArtsAutosBooksBusinessEducationEntertainmentFamilyFashionFoodGamesGenderHealthHolidaysHomeHubPagesPersonal FinancePetsPoliticsReligionSportsTechnologyTravel
  • »
  • Education and Science»
  • Law & Legal Issues

"Absolute" Auction

Updated on June 25, 2012

Going, Going, Gone...

A common practice especially in today's real estate market is to use the services of an auction company. Residential and Commercial properties are going on the auction block as a means of selling the abundance of surplus inventory.

By setting a date certain a sale will happen on a given day and will result in the purchase and sale of a specific property, the seller has created a sense of urgency where none had existed in prior marketing.

These days "absolute sale" is used to send a message to the buying public that at the fall of the gavel the property is sold without reserve. Without reserve means the seller has not place a reserve value or minimum price on the property being offered for sale.

Most buyers actually call an "absolute sale" a real auction. The reason, is because when a property is offered absolute the bidders know that if they're the winning bidder at the end of bidding they've bought the property at the high bid price. No predetermined value has been placed on the property by the seller.

Beware of the enthusiasm and high energy levels attracted by the auction environment. The excitement by the audience participating during the bidding is like nothing you've ever experienced. You owe it to yourself to attend an auction an realize outstanding deals.

Good Luck! Bid High and Bid Often!

Comments

    0 of 8192 characters used
    Post Comment

    No comments yet.