Matthew Price Auctions & Real Estate

Seller FAQs & Auction Terms

General information about selling at auction with Matthew Price. For questions specific to your property, reach out directly.

Common Questions

Seller FAQs

What types of property do you auction?
A wide range — residential homes, farms, cropland, commercial buildings, recreational property, undeveloped land, and investment properties. Every auction is evaluated individually, so reach out to discuss whether your property may be a good fit.
Why consider an auction instead of a traditional listing?
The auction method creates a defined timeline, targeted marketing, and a competitive bidding environment that can work well for many sellers. Results vary depending on the property, market conditions, and other factors, so we’re happy to talk through whether auction is a good fit for your situation.
My property hasn’t sold through traditional methods. Could auction help?
Often a property that hasn’t sold simply hasn’t reached the right buyers yet. An auction campaign is built to generate broad exposure and qualified interest in a short window. Outcomes depend on a number of factors — reach out and we can talk through your specific situation.
Where does the auction take place?
Most auctions are conducted on site when practical. We may also arrange a nearby public or private venue depending on the property type and your preference, and online bidding may be available as well. The specific format is set as part of your auction agreement.
My property needs work before it can be shown. Can you help coordinate that?
We can help coordinate general cleanup, yard work, and minor repairs through local contractors as a convenience to sellers. Any such services are handled through separate arrangements and costs. It’s best to discuss your property’s condition with us early, so we can advise on the right approach before the auction campaign begins.
The information above is for general informational purposes only and does not constitute legal, financial, or real estate advice. All auction terms, conditions, and services are subject to a written agreement. Past results are not a guarantee of future outcomes. Contact us directly with questions specific to your property.
Definitions

Auction Terminology

Absolute Auction
An auction conducted without a reserve price, in which the property sells to the highest qualified bidder regardless of the final bid amount. Terms and eligibility requirements still apply — see the specific auction’s Terms & Conditions for details.
Absentee Bid
A procedure that may allow a pre-qualified bidder to submit a bid before the auction without being physically present. Availability and requirements vary by auction — contact us for details before auction day.
As-Is
Property offered with no representations or warranties about its condition, fitness for a particular use, or any other characteristic. Buyers are solely responsible for their own due diligence before bidding. Bidding constitutes acceptance of the property in its present condition.
Auction With Reserve
An auction in which the seller retains the right to accept or reject any bid. A minimum acceptable price may or may not be disclosed. The seller isn’t obligated to sell unless that reserve condition is met.
Auction Without Reserve
An auction in which the seller agrees to sell to the highest qualified bidder with no minimum price requirement. Once the first bid is received, the property may not be withdrawn from sale. All other Terms & Conditions still apply.
Bidder’s Choice
A method of sale in which the high bidder earns the right to select one or more properties from a designated group. After each selection, the remaining properties are re-offered. Specific rules governing this method are outlined in that auction’s Terms & Conditions.
Broker Participation
An arrangement in which a licensed third-party broker may register a prospective buyer before the auction. A commission may be paid to the participating broker only if their registered client is the successful high bidder and the transaction closes. Registration deadlines and commission terms vary by auction.
Buyer’s Premium
An additional amount, calculated as a percentage of the high bid, added to determine the total purchase price. Any buyer’s premium will be clearly disclosed in that auction’s Terms & Conditions before bidding opens.
Due Diligence
The process by which a prospective buyer independently investigates a property’s condition, title, encumbrances, zoning, and any other relevant factors before bidding. All properties sell as-is, and buyers are solely responsible for completing their own due diligence before auction day.
Multi-Parcel Auction
An auction format in which multiple parcels may be combined and offered in various configurations — individually, in combination, or as a whole. The specific structure is outlined in that auction’s Terms & Conditions.
Multiple Property Auction
An auction event in which two or more properties are offered under a single promotional campaign. Properties may belong to one or more sellers, and each is subject to its own individual Terms & Conditions.
Preview / Inspection
Scheduled times before the auction when prospective buyers may inspect the property. Attendance is strongly encouraged — since everything sells as-is, bidding is treated as acknowledgment that the buyer had the opportunity to inspect.
Property Info Package
A package of general information relating to the property being offered — descriptions, available surveys, and auction terms. It’s for informational purposes only and doesn’t constitute a warranty, so buyers should independently verify anything important.
Registration
The process required to participate as a bidder — typically valid ID and, in some cases, proof of funds. Requirements vary by auction and must be completed before bidding. Registering doesn’t obligate a party to bid or purchase.
Terms & Conditions
The legally binding rules governing a specific auction — payment method, buyer’s premium if any, possession date, reserve requirements, and closing requirements. Bidders are responsible for reading and understanding these before participating. Bidding constitutes acceptance of all Terms & Conditions.
The definitions above are for general informational purposes only. They do not constitute legal advice and may not reflect the specific terms of any individual auction. Every auction is governed solely by that auction’s published Terms & Conditions. Consult a qualified attorney with any legal questions.
Explore More

Where To Go Next

The Auction Process

See exactly how we take your property from listing to closing, step by step.

See How It Works →

How We Market Your Property

Every channel covered — see how the marketing campaign is built around your buyers.

See Our Marketing →

Buyer FAQs & Terms

Curious how the process looks from the buyer’s side? Start here.

Buyer FAQs →

Ready to Sell at Auction?

Contact Matthew Price for a free consultation. We’ll walk you through the process and answer any questions specific to your property.

Matthew Price Auctions & Real Estate  ·  Fuquay-Varina, NC  ·  919-614-6288  ·  matt.price@Matthew Price, Auctioneer & Real Estate Broker
NC Auctioneer License #8267  ·  NC Real Estate Broker License #303262