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re: Anyone familiar with land auctions?
Posted on 10/8/21 at 12:04 pm to Lightning
Posted on 10/8/21 at 12:04 pm to Lightning
They aren’t immediately selling the smaller tracts. They’re taking bids on the smaller individual tracts and then taking bids on tracts combined, up to the entire property combined as one. Whichever combination of bids results in the highest price is then chosen to move forward with the sale.
1
Posted on 10/8/21 at 12:49 pm to Woodbird
quote:
They aren’t immediately selling the smaller tracts. They’re taking bids on the smaller individual tracts and then taking bids on tracts combined, up to the entire property combined as one. Whichever combination of bids results in the highest price is then chosen to move forward with the sale.
correct. Ive participated in similar auctions before, and the bids are contingent.
Check the auction process and fees very carefully for weasel language ..... just know what you're dealing with and you should be fine.
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