Allowing a bidders to participate in the bidding process without being physically present. Where a bidder submits an offer on an item prior to the auction. Absentee bids are usually handled under an established set of auction terms, rules and procedures established by the auctioneer. These particular rules and procedures may be unique to each property at auction

An auction where the property is sold to the highest bidder with no limits, conditions, amount or reserves. The seller however, may not bid personally or through an agent, or anyone acting on behalf of the seller. An absolute auction presents the greatest opportunity for the buyer.

Area measurement (square measure) used primarily in the United States. One (1) acre is equal to 43,560 square feet, 4,046.86 square meters, or 0.4047 hectares.

One (1) acre equals 43,560 square feet. One (1) acre equals ten (10) square chains. One (1) acre equals 160 square rods, poles, or perches. One (1) acre equals 4,840 square yards. One (1) acre equals 4,046.856 square meters. One (1) acre equals 0.4047 hectares. One (1) acre equals 0.0016 square miles or sections. One (1) acre equals 0.004 square kilometers. One (1) acre equals 0.0000434 townships. One (1) acre equals 1.183676 arpents. One (1) acre equals 4.0 roods.

Features, both tangible and intangible, which enhance and add to the desirability of real estate

A commercial or residential building with an unfinished interior and lacking heating, ventilating, and air conditioning (HVAC), and usually without lighting, plumbing, ceilings, or walls. A base shell is ready for warm shell or vanilla shell improvements (VSI), which are usually completed once the lease agreement has been signed.
Synonymous with grey shell or cold shell.

All property other than real property. Chattels are distinct from real property in that they are moveable (not attached or affixed). Exceptions are made for trade fixtures or furniture, fixtures, and equipment (FFE), which can be attached, but are still considered chattels. Also known as personalty or personal property, chattels can be tangible (things or objects owned) or intangible (rights and relationships that are included in ownership). Tangible chattels include all objects that one owns, such as vehicles, clothing, houseplants, small appliances, etc. Examples of intangible chattels include patents, copyrights, royalties, and community property relationships. Transfer of chattels is done through a bill of sale, a will, intestate succession, or by court order (judgment).

A commercial or residential building with an unfinished interior and lacking heating, ventilating, and air conditioning (HVAC), and usually without lighting, plumbing, ceilings, or walls. A cold shell is ready for warm shell or vanilla shell improvements (VSI), which are usually completed once the lease agreement has been signed.
Synonymous with grey shell or base shell.

Where two or more people agree not to bid against one another so as to deflate value or when the auctioneer accepts a fictitious bid on behalf of the seller so as to manipulate or inflate the price of the property. It is an unlawful practice.

1. Usefuleness or desirability as a business, commodity, or investment. 2. A quality or characteristic of an investment, property, goods, or services such that it can be sold or traded at a profit.

A written instrument by which a property owner (grantor) transfers to a grantee ownership of and title to real property.

Deriving little or no value from on-site facilities or amenities.

The right of a mortgagor who has defaulted on the mortgage note to redeem or recover the title to the property by paying off the entire mortgage note prior to the foreclosure sale.

The reversion of property to the state when a decedent dies intestate and there are no heirs capable of inheriting, or when the property is abandoned.

The highest monetary price a property would bring, if offered for sale in an arm's-length transaction for a reasonable period of time in a competitive market. Also known simply as market value.

Abbreviation for furniture, fixtures and equipment, a term normally used in business or commercial real estate. However, this term can also apply to personal, non-commercial items. Articles considered to be FF&E are personal property unless they are permanantly attached or affixed to real estate. Under the terms of most commercial leases, FF&E are to be removed by the tenant upon expiration of the lease, and are therefore personal property. Examples of FF&E include computers, office furniture, shelving, beds, etc. Synonymous with trade fixture.

An article which was once personal property but has been so affixed to real estate that it has become real property (stoves, bookcases, trees and landscaping, etc.). If determined to be a fixture, then ownership of the article transfers with the real property even though it is not mentioned in the deed.

Normally used in real estate with business or commercial applications such as bed and breakfasts, this term can also apply to personal, non-commercial items. Articles considered to be FF&E are personal property unless they are permanantly attached or affixed to real estate. Under the terms of most commercial leases, FF&E are to be removed by the tenant upon expiration of the lease, and are therefore personal property. Examples of FF&E include computers, office furniture, shelving, beds, etc. Synonymous with trade fixture.

A commercial or residential building with an unfinished interior and lacking heating, ventilating, and air conditioning (HVAC), and usually without lighting, plumbing, ceilings, or walls. A grey shell is ready for warm shell or vanilla shell improvements (VSI), which are usually completed once the lease agreement has been signed.
Synonymous with base shell or cold shell.

A commercial or residential building with an unfinished interior and lacking heating, ventilating, and air conditioning (HVAC), and usually without lighting, plumbing, ceilings, or walls. A grey shell is ready for warm shell or vanilla shell improvements (VSI), which are usually completed once the lease agreement has been signed.
Synonymous with base shell or cold shell.

The care and work put into a building to keep it in operation and productive use; the general repair and upkeep of a building. If maintenance is deferred, the building will suffer a loss in value.

The highest monetary price a property would bring, if offered for sale in an arm's-length transaction for a reasonable period of time in a competitive market. Also known as fair market value.

Something that is commercially valuable and desirable, and that can usually generate a profit or return on an investment (yield).

All property other than real property. Personal property is distinct from real property in that it is moveable (not attached or affixed). Exceptions are made for trade fixtures or furniture, fixtures, and equipment (FFE), which can be attached, but are still considered personal property. Also known as personalty or chattels, personal property can be tangible (things or objects owned) or intangible (rights and relationships that are included in ownership). Tangible chattels include all objects that one owns, such as vehicles, clothing, houseplants, small appliances, etc. Examples of intangible chattels include patents, copyrights, royalties, and community property relationships. Transfer of personal property is done through a bill of sale, a will, intestate succession, or by court order (judgment).

1. Land, improvements upon the land (structures such as buildings, fences, sewers or septic tanks, etc.), and appurtenances that run with the land (such as streets, sidewalks, and easements).
2. Ownership of land, improvements, appurtenances, and natural resources of the land (such as minerals, oil, gas, water, etc.).