In this real estate exam prep video, we will discuss Auctions. Selling real property using the Auction Method is a big part of the real estate profession. You also need to know some key real estate terms for your real estate licensing exam. They include:
Offeree –
Offeror –
For Sale By Auction –
Absolute Auctions –
Auction With Reserve (a.k.a. Reserve Auction) –
Personal Property –
Chattel –
Personalty –
Best of luck with your studies…
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Paul Vojchehoske
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P.S. Nothing in this video shall be construed as legal or financial advice and is for INFORMATIONAL purposes only! Please consult with a competent attorney, financial advisor, and your broker before implementing anything you’ve learned from this video. Likewise, the issues discussed herein may not be applicable in your state or local jurisdiction.
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Paul Vojchehoske
Real Estate Exam Prep, Real Estate Principles and Practices, Section 10: Practice of Real Estate