The property sold after passing in at the Final Bidding Stage

The article covers the process negotiations after a listing has passed in, including the role of the auctioneer

    If a property passes in at an auction and you have come to terms with the highest bidders on a mutually acceptable price, the Auctioneer may sign the contract on behalf of the buyer in accordance with state auction regulations.

    However, if the specified deadlines have elapsed, the sale will be treated as a private treaty negotiation by crossing out any references to Schedule 1.