how does it work to auction off a house and it dont bring what you want do you have to sale?

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how does it work to auction off a house and it dont bring what you want do you have to sale?

would you have to pay fees to the auctioneer

2006-06-09 07:56:14 · 2 answers · asked by WILLIAM W 2 in Business & Finance ➔ Renting & Real Estate

2 answers

There are two kinds of auctions. The absolute auction is one where you agree to sell for the price the auctioneer gets as the final bid. The reserve auction is one where you have a price set beforehand and will only be required to sell if the final bid is at or above your reserve. Either way, the auctioneer did their job by holding the auction so you do have to pay the auction fees.

2006-06-09 12:04:43 · answer #1 · answered by mycornerofbrickheaven 3 · 0⤊ 0⤋

yes you still pay all fees put a reserve price on the house

2006-06-09 15:12:07 · answer #2 · answered by bigklb10 2 · 0⤊ 0⤋