2015 California Real Estate Laws: No Shill Bidding At Real Estate Auctions
This is part of our series about new 2015 California Real Estate laws. Click here to see the series.
This new law prohibits anyone from causing or allowing any person to bid at a sale for the sole purpose of increasing the bid on any real property being sold by the auctioneer.
An auctioneer or another person may place a bid on the seller’s behalf during an auction of real property if proper notice is given that bid has reserve.
This law also requires disclosure to all auction participants that the particular bid has been placed on seller’s behalf. See Civil Code §§ 2079.23 and 1812.610.
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