1. Home


  2. Glossary


  3. A


An auction is a public sale of a property or real estate sold to the highest bidder when they reach the owner’s reserve price.

If the highest bid does not meet the owner's reserve price, then the property is 'passed in', and private negotiations may commence between the property owner and the highest bidder.


Making the home loan journey easy for you anytime, anywhere.

© Copyright 2022 Tella (New Zealand) Limited. All Rights Reserved. Powered by Tella.