It means that the property is being offered to the highest bidder, subject to the seller accepting or rejecting the bid. Most Owner Assist Realty property auctions are conducted subject to seller confirmation. It is also possible that the property will be subject to an underlying lien holder such as a lender accepting the bid amount including commission and fees as payment in full for a lien that has a greater balance owed than the amount of the winning bid. This is known in real estate circles as a short sale and if the property is subject to a short sale the time for closing may be extended to accommodate the lender requirements.
