Agency
In Oregon, what is a 'buyer's premium' in the context of real estate auctions?
AA premium service level offered by buyer's agents
BAn additional charge paid by the buyer (above the winning bid price) at auction, representing a portion of the auctioneer's compensation✓ Correct
CA premium title insurance product for buyers
DAn Oregon-specific guarantee fund for buyers
Explanation
In real estate auctions, a buyer's premium is an additional percentage (typically 5–10%) added to the winning bid price that the buyer must pay — so the total purchase price is the bid plus the buyer's premium. For example, a $300,000 bid with a 10% buyer's premium results in a $330,000 purchase price.
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