How does a land auction work?
Frequently asked questions.
What is a real estate auction? - It is a method of buying and selling real estate which simplifies the purchasing process through the medium of an auctioneer.
Do I have to register on sale day?- Yes, you will register on sale day with the clerk and receive a number , which is your bidder number.
What if I'm the highest bidder? -There will be a required amount of down or earnest money to be paid on sale day. Your bid is considered acceptance of the terms of the auction you participated in. If you as a buyer fail to close, the down payment/ earnest money is non-refundable. If the seller fails to close, the buyer will be refunded 100% of any down payment/earnest money.