Fall of the Hammer definition

Fall of the Hammer means the point, after bids have been received, at which Auctioneer declares the Property “sold” to the Bidder acknowledged by Auctioneer as having made the Winning Bid. During an online auction, the Fall of the Hammer may occur electronically at the end of timed (or extended) bidding. If the Property is exposed for sale Subject to Seller’s Confirmation, the Fall of the Hammer will occur on Seller’s confirmation of the sale either at the High Bid Subject to Confirmation or at such other amount as may be agreed to, in good faith, by Seller and the Buyer.
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Fall of the Hammer means the point, after bids have been received, at which Auctioneer declares a parcel of Real Property “sold” to the Bidder acknowledged by Auctioneer as having made the Winning Bid. During an auction that is exclusively online, the Fall of the Hammer will occur electronically at the end of timed (or extended) bidding.
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Fall of the Hammer means the point at which Auction Clerk declares the Property “sold” to the Bidder acknowledged by Auction Clerk as having made the Winning Bid. During an auction that is exclusively online, the Fall of the Hammer will occur electronically at the end of timed (or extended) bidding. In an auction that is Subject to Seller’s Confirmation, the Fall of the Hammer will occur on Seller’s Confirmation of the High Bid Subject to Confirmation.
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Examples of Fall of the Hammer in a sentence

  • Any contract formed with the Fall of the Hammer will be subject to the conditions set forth in this Section.

  • The Buyer’s Premium is earned at the Fall of the Hammer and is non-refundable.

  • The Buyer’s Premium is earned at the Fall of the Hammer and will not be refunded by Auctioneer.

  • YOU recognize that if the bidding is reopened for any reason after the Fall of the Hammer, or if Auctioneer permits the withdrawal of a subsequent advancing bid, YOUR bid may be accepted and YOU may be declared the Winning Bidder.

  • Unless specific Property is, in express written terms, exposed for sale at Absolute Auction, Auctioneer has the right to withdraw any Property from the Auction prior to the Fall of the Hammer.

  • If (i) a bid is made while the hammer is falling in acceptance of a prior bid, or (ii) promptly after the Fall of the Hammer or other termination of the bidding Auctioneer is made aware of a bid that was unnoticed prior to the Fall of the Hammer or other termination of the bidding, and it is demonstrated to Auctioneer’s satisfaction that such bid was, in fact, timely made, Auctioneer may, in Auctioneer’s sole and absolute discretion, reopen the bidding (but will not be required to).

  • Because the Buyer's Premium is earned with the Fall of the Hammer, Auctioneer has no obligation to mitigate damages with respect to the Buyer's Premium, and YOU acknowledge and agree that mitigation of damages is not possible.

  • Auctioneer may Withdraw the Property prior to the Fall of the Hammer, even if bids have been tendered and/or recognized.

  • The provision checked below applies to the Auction: The Real Property is offered With Reserve, and, as such, any bid may be rejected and the Property may be withdrawn by Auctioneer at any time before the Fall of the Hammer.

  • The execution of an Absentee Bid will typically be commenced at a percentage of the maximum amount of the Absentee Bid as determined by Auctioneer in Auctioneer's sole and absolute discretion, and will be advanced competitively until the Fall of the Hammer or until maximum amount of the Absentee Bid is reached, whichever occurs first.


More Definitions of Fall of the Hammer

Fall of the Hammer means the point, after bids have been received, at which LAG declares the Property “sold” to the Bidder acknowledged by LAG as having made the Winning Bid. During an online auction, the Fall of the Hammer may occur electronically at the end of timed (or extended) bidding.
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Fall of the Hammer means the time at which an offer for the Sale of a Lot:
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Fall of the Hammer means the point, after bids have been received, at which Auctioneer declares the Real Property “sold” to the Bidder acknowledged by Auctioneer as having made the W inning Bid subject to Seller’s Confirmation.
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