Offlinei joined a local mailing list of real estate updates including auctions, meetings, etc...
i just got an e-mail that a few townhouses are being auctioned off. 4 of the 5 are being sold absolute.
what does absolute mean in this case?
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"how you do anything, is how you do everything."
An Absolute Auction for real estate is where the property is sold to the highest bidder regardless of the price paid (amount of the winning bid). Thus, the auction attendees should start the minimum bid low. However, sometimes they have a "recommended" minimum bid to start the auction. I hope this helps. Good luck with real estate investing. Believe and Achieve!
- Joe
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Thanks for the information. Always good to know.
Sandra
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