What does it mean if a property is sold "subject to confirmation"?

When a property is sold "subject to confirmation," it means that the sale is not final until the owner or seller reviews the received bids and decides whether to accept or reject them. This process allows the seller to retain control over the transaction and ensures that they can weigh the offers against their expectations or requirements for the sale.

This condition is often used to safeguard the interests of the seller, allowing them to not accept bids that they deem unsatisfactory or lower than their desired sale price. It also indicates to bidders that their bid may not be the final outcome unless the seller agrees to it.

The other choices do not capture the essence of this term. For instance, selling at a minimum price focuses on a price threshold rather than the seller's discretion over the bids. Selling without any bids contradicts the premise that bids are being collected and considered. Lastly, the idea that the auctioneer controls all bids does not accurately represent the seller's final say in the matter, as the auctioneer typically facilitates the process rather than making final decisions on acceptance or rejection.