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looking at a property that has gone higher than the reserve. If I am the high bid is there anything to stop me from winning the auction?

asked by Steve B. on 9/6/19

1 Answer

Hi,

A reserve is the price set by the seller indicating the lowest price the seller might accept for a property. The Seller's reserve is not disclosed during the auction and once reserve is met, bidding continues through the end on the bidding period. At the end of the auction, all bids and bid components such as financing type and requested closing date are subject for the seller's approval. The seller is not obligated to accept a bid and reserves the right to refuse a bid even if the reserve price is met.

To learn more about the reserve and bidding process, you may visit our FAQs at https://www.hubzu.com/portal/support.

Thanks
Altisource Customer Advocacy Team

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