How does the Round Robin Auction work?
The Round Robin Auction is a buyer friendly auction that eliminates all the usual risks associated with buying at auction. On Saturday and Sunday, there will be an open house from 12:00 PM to 5:00 PM to visually inspect the property and sign up to participate in the auction, and to place an initial bid. The actual auction is held by phone on Sunday evening. Starting at 6 pm each bidder will receive a call informing him or her of the current bid and offering them the opportunity to increase their bid in order to proceed to the next round. Rounds will continue until only one highest bidder remains. Buyers will need to be available (at home or by cell phone) Sunday evening to receive multiple phone calls.
