Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

What do the terms reserve and absolute mean?

April 26, 2017mean Reserve terms

0

Posted

What do the terms reserve and absolute mean?

2 Answers

0

Posted

An auction where the property is being sold with a reserve means that the property is being sold subject to seller confirmation. When a property is being sold absolute it will be sold to the highest bidder regardless of price.

0

Posted

An auction where the property is being sold with a reserve means that the property is being sold subject to seller confirmation. When a property is being sold absolute it will be sold to the highest bidder regardless of price. Any absolute properties will be noted in the brochure.