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Download the Xome Auctions App. Search our Michigan auction properties on Xome.com. Search Michigan real estate owned (REO), CWCOT, short sale and foreclosure homes for auction here.A bid increment is the minimum amount a bid must increase during an auction, usually a percentage of the seller’s reserve price. Here’s an example of how bid increments work: Let’s say that bidding begins for a property at $20,000 and someone bids that amount. The next minimum bid amount that appears is $22,500.…

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