Legal Question in Real Estate Law in Texas

Real Property Auction

If a house is advertised for auction to go to the highest bidder and the highest bid is $500, would the homeowner be legally bound to sell at this price?


Asked on 4/27/07, 5:46 pm

1 Answer from Attorneys
Johm Smith tom's

Re: Real Property Auction

Only if they were foolish enough not to require a minimum bid. At state auctions they can refuse to sell if they want to try to get more from a new auction; I don't think they do that often though...too many to sell.

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Answered on 4/27/07, 5:49 pm


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