What are the different forms of auctions?
There are two forms that an auction can take: “absolute” or “confirmation”. At an absolute auction, the real estate sells to the highest bidder without minimum or reserve. At a confirmation auction, the seller has the right to accept (confirm) or reject the last bid price at the auction. The form of the auction depends on a number of factors, including market conditions such as location, declining or appreciating market, physical condition of the property as well as financial constraints such as mortgages and liens. Our recommendation of the form of auction is based upon years of experience in this marketplace and our commitment to bringing you the top market value for your property.
