What is a reserve auction and how is it done, because I have control over a property that is in value of easily over half of a million dollars, and only 2 weeks left on my control to sell the property.
The upside is that the area has some million dollar homes a little larger than my 2500 sq ft deal (including an additionally fully finished 2500 sq ft basement). In short the home needs some minor TLC and I would sell on the basis of a person expanding the property to blend in with the other 3400+ sq ft homes in this area. I don’t want to be in over my head and this deal is worth more than it represents in money to me, the owner has more people to refer in the event I can get the job done in the timely manner I proposed when buying (controlling) the property. Any assistance in how a reserve auction is conducted is appreciated.