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What does “Absolute Auction” mean?

April 26, 2017absolute auction mean

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What does “Absolute Auction” mean?

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Real Estate being sold “Absolute” means the property will be sold to the highest bidder, regardless of the high bid price.

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A. A property that is sold at Absolute Auction means that it is selling to the highest registered bidder regardless of price. There is no minimum and the seller cannot reject the highest bid attained at the auction.