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Passed In

Discussion in 'Investing Glossary' started by Glossary, 28th Sep, 2006.

  1. Glossary

    Glossary Active Member

    12th Sep, 2006

    If a property is not sold at auction because the owner’s reserve price has not been reached, it is passed in. The highest bidder then retains the first option to purchase at the reserve price. It is then possible to negotiate for the purchase, either on the same day or afterwards.

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