b'GlossaryAuctionFeeReserve a public sale in which a payment made inthe minimum amount that goods or property are exchange for advice a seller will accept as the sold to the highest bidder. or services. winning bid.BidderHolding Deposit AgreementReservation Agreementa person or organisationa sum paid to demonstratewhen a conditional auction buyer pays a fee and making a formal offer,commitment to purchasing reserves the rightespecially at an auction. your property.to buy the propertyBuyerLegal Documentsfor a period of time a person who makes a document that contains(reservation period) .a purchase. key information a potentialReservation Fee Conditional Auctionbuyer needs to know abouta non-refundable fee the highest bidder a property before bidding. required from the winning at or above reserve at Memorandumbidder as a way of securing the close of the auction, a legal document thata property to them for the the buyer must place records the details of a salereservation period.a non-refundableof a property. Site Viewing an opportunity for anyone reservation fee to secure Property interested in the property an option to exchangea building or buildings andto look around and fully contracts on the the land they belong to. inspect the propertyproperty. Online Auction before auction.Exchangean auction held over theVendor when both parties swapinternet and accessed bya person or company and sign the contracts. internet connected devices. offering something for sale.'