Online Auction Opportunity — Name Your Price!

The Gavel Is Hovering — Name Your Price!

This is your opportunity to take control and decide what you’re willing to pay. The seller wants to know your number, and the online auction format puts the bidding strategy in your hands. Whether you believe the property is worth more or less, the decision is yours.

Would you bid $100,000 more—or $100,000 less? The auction is designed to give qualified bidders the opportunity to compete online while following the established terms and conditions of sale.

How the Auction Works

🟢 The Green Light

When the applicable auction conditions are satisfied and the reserve price has been met, the light turns green and the final countdown begins.

This is the moment when the auction enters its final stage. Subject to seller bid-match rights if the bid is below the reserve, bidders must remain attentive as the clock counts down.

⏱️ The Countdown Clock

Once the green light appears, every second matters.

Your objective is simple: remain the highest bidder when the countdown reaches zero. The bidder holding the winning position at the close of bidding may be required to move forward with the contract process, subject to seller acceptance and all applicable auction terms.

If you’re watching from the sidelines and the light turns green, another bidder could take the lead before you have a chance to respond.

🔨 The Hammer

As bidding approaches the closing stage, the virtual hammer is ready to fall.

When the bidding closes, the highest bidder secures their position for final seller acceptance, subject to the complete terms and conditions of the auction.

Winning the bidding does not necessarily mean the transaction is automatically finalized. All applicable seller rights, confirmations, contract requirements, and auction terms remain in effect.

Know Your Strategy

Auction buying is different from traditional real estate purchasing. Instead of simply submitting a conventional offer and waiting for a response, bidders compete against one another according to the auction rules.

Before participating, bidders should understand:

• The current bid
• The applicable reserve
• The buyer’s premium
• The countdown and closing procedures
• Seller confirmation requirements
• Bid-match provisions
• Online and offline auction terms
• Contract requirements
• Payment and closing obligations
• Any additional terms and conditions of sale

The 15% Buyer’s Premium is an important consideration when determining your maximum bid. Buyers should calculate the total potential purchase obligation, including the applicable premium and any other costs, before deciding how high they are willing to bid.

Don’t Wait Until It’s Too Late

Auction opportunities can move quickly.

You may be watching the bidding and thinking about your next move when another bidder takes the lead. If the green light activates and you haven’t positioned yourself competitively, you could miss the opportunity to participate in the final stage.

The strategy is ultimately yours.

Know your maximum number. Understand the terms. Watch the bidding. And if you decide to compete, be prepared to act according to the auction rules.

The goal is to be in the winning position when the clock reaches zero.

From: Zillow

Seller Rights & Auction Terms

Myers Jackson, Auctioneer, under the direction of the seller, may process and execute bids or offers in accordance with the seller’s reserved rights, including applicable rights relating to reservation, liberty of bidding, counter-bidding, or other seller rights.

All bidding and purchase activity remains subject to the applicable online and/or offline Terms and Conditions of Sale, Offer, Price, Seller Confirmation, and other auction requirements.

A 15% Buyer’s Premium applies.

TDLR License #17057

Before placing a bid, prospective buyers should carefully review the complete auction terms and conditions and independently verify all information relevant to their purchase decision.

The Opportunity Is Yours

The gavel is ready.

The light may turn green.

The clock will begin.

And when the countdown starts, the bidder who remains in the top position when time expires may have the opportunity to move forward, subject to seller acceptance and all applicable terms.

Don’t simply watch the auction—know your number and be prepared to compete.

Name your price. Watch the light. Follow the clock. And let the bidding begin.

From: Zillow