That means that whoever has the high bid gets their choice of property, either by the lot, acre, unit, etc. Terms - The terms for the sale are usually cash. That means that a down payment will be charged the day of the sale with the balance due in so many days. Please see the terms section on any properties you are interested in to find out the details.
Some sellers offer their own terms.
In some cases the sellers restrict the property. This simply means that they set up rules for what can and can not be done on the property. The Auctioneer's Chant Our Auctioneer is Col. Lou Dempsey. He is a third generation Dempsey Auctioneer. He will call out a bid, either by the dollar, by the acre, by the lot, etc. and will continue until he reaches the top dollar.