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Auction subject to confirmation
Definition: An auction sale in which the seller has reserved the right to:
- specify a minimum price (reserve price)
- accept or decline any or all bids
- withdraw the item or property from the sale at any point prior to the completion of the sale
Terms, Definitions, and Concepts: Auction, Real Estate
- specify a minimum price (reserve price)
- accept or decline any or all bids
- withdraw the item or property from the sale at any point prior to the completion of the sale
Terms, Definitions, and Concepts: Auction, Real Estate
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