Bidding in Real Estate Auctions
Real estate auctions can be of great use for those seeking to either sell a property quickly or a buyer seeking to get a great find at a good price. Real estate auctions can offer market value properties that are attainable in different ways. Online only real estate auctions opens up the a world of opportunity for anyone interested in property. Being able to view the bidding from anywhere in the world makes the real estate auction easily accessible and therefore the property has a higher chance of getting sold in timely and cost effective manner. The process in which a real estate auction property is sold is through bidding, the bid is the amount a buyer is willing to offer for the property, through the duration of the real estate auction process, the bid's will continuously go up until the highest bid can no longer be surpassed. The auctioneer coordinates the increasing amounts and keeps order of all the bids. Bidding can be done just as easily online as it is done in a live real estate auction, the instructions are placed with each auction and explain the process.
Many people are interested in real estate auctions, but may not know or understand the auction business and how to participate in real estate auctions. By posting definitions and examples I hope to give a better understanding of real estate auctions terms. These terms are direct definitions given by NAA (National Auctioneers Association). You can view more real estate auction terms at http://www.myersjackson.com/
Bid
A prospective buyer's indication or offer of a price he or she will pay to purchase property at auction. Bids are usually in standardized increments established by the auctioneer
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