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Frequently Asked Questions
WHAT IS A LIVE AUCTION
Prospective buyers arrive at the auction location, view the property and/or chattels, then place their bids. The Auctioneer declares a lot “SOLD!” when the bidding stops. Prospective buyers should sign-up with our staff to receive a bidder’s number. (Please have a valid State Identification card ready.) When you are ready to bid on a lot, simply raise your number and our staff will catch your bid! Once you are declared the high bidder, you can choose to keep bidding on other lots or check out with our cashier to pay for your purchases. Specific terms and conditions will be advertised. Announcements made the day of the sale supersede printed terms. Bidding on real estate is a legally binding agreement to purchase the real estate or property for the bid amount. Closings are not contingent on financing, appraisals, inspections, or any other factors. Bids cannot be retracted.
ALL TYPES OF AUCTIONS
Farm & livestock
Real estate - any size
AUCTION PLANNING INCLUDES
Pack, organize, set-up, tear-down, and clean-up.
Licensed food trailer for Auction Day, or you can use your local church or 4-H group.
Tents and tables.
Absolute Auction – The highest bidder wins the auction, regardless of the price of the bid. There is no reserve price.
Buyer’s Premium – An additional charge to cover administrative expenses. Normally, a percentage of the purchase price.
Lot – An item or group of items sold at auction. Lots are determined before the auction and by the auctioneer and/or staff.
Reserve Price – The lowest price the seller is willing to accept for a lot. If the reserve price is not met, then the lot will not be sold.
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