Real Estate, Houses On The Market & Flats For Lease
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Dummy bidding is when an agent or an individual performing on the seller’s behalf pretends to be genuinely thinking about purchasing a property by making bids at an public sale. When dummy bids continue after the reserve price has been reached, the real bidder is competing with a false purchaser and is pushed to pay as a lot as they’ll. Unless the dummy bidding is fully disclosed at both the beginning of the public sale and on the time the bid is made, it is more probably …