When buying a home, the best place to start is to hire an Exclusive Buyer Agent. EBAs only work with homebuyers and there is never a conflict of interest that will jeopardize your negotiating position. Visit http://www.naeba.org for a referral to an Exclusive Buyer's Agent in your area.
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Best of luck!
It is my understandin that this is a traditional auction process. Some of the homes have a reserve price that has been set and the winning bid must be approved by the seller, and some will go for the highest bid price.... more