S.D. Admin. R. 20:69:06:07
A real estate auction may not begin until the announced and advertised time and date, and may only occur at the announced and advertised place of the sale. All efforts of selling shall cease at the end of the sale or at the time of the announcement of no sale. If property being sold by auction is put up in tracts, each tract is the subject of a separate sale. Any sale is with reserve unless the real estate being sold is explicitly put up without reserve. A bidder may retract a bid until the auctioneer's announcement of completion of the auction, but a bidder's retraction does not revive any previous bid.
Each sale at auction is complete when the auctioneer announces its completion by the fall of the hammer or in any other customary manner.
S.D. Admin. R. 20:69:06:07
General Authority: SDCL 36-21A-89(7).
Law Implemented: SDCL 36-21A-1, 36-21A-72, 36-21A-89.