If you are in , you are selling and or you are an looking for opportunities you want to consider auctions as a for finding what you need. With round the clock bidding and available you be sure you are protected when buying .

Some will say that you should never buy a you haven’t seen and if you do you deserve whatever you get. That be so but what if the you buy is a great deal? If you do not buy it then you will miss out on that deal.

There are three main types of auctions, absolute, , and reserve. means just that, there is a price set by the seller and bids must start at that price and the seller will not accept any bid than that set price. Setting a for the being sold ensures that the seller will not to consider a below- bid and helps the by them they need to join in on the bidding for that particular property.

The most popular type of is the same as an auction you might come across offline, the . An is the type of auction where the highest bidder is sold the property. This is the type of auction where the seller does not care if they profit from the of the property, they just need to be out from underneath it for whatever reason.

The reserve type auction be the most confusing of all the types outlined . In reality, a is a lot in the sense by your property with a agent or doing for by owner. A is set by the seller but the seller does not reveal what it is. Bids are subject to acceptance or rejection based on what that set price, or reserve price, is. do not to place bids on this type of because their offers are subject to confirmation and even if they place the highest bid they lose out on the property.

When dealing with be careful to understand what is binding and what is non-binding. A binding contract is one that you may back out of if necessary but will place you in danger of being black-balled in the if you fail to through with the deal. Some encourage feedback regarding deals that taken place and you receive a reputation for bad conduct on the auction . So act in good faith and always through with every deal you enter .

Non-binding contracts mean that if situations are disclosed from the to the seller or the seller to the then the of the property be voided without any consequences regarding the .