Real Estate Made Simple! Three Ways to SELL YOUR HOME OR PROPERTY!
No, due to the condition of the property and liability there will no showings on the house.
No, this property is in very poor condition and is recommended to be demolished.
We recommend a cash buyer for this property due to the condition.
A buyer's premium is a fee as a percentage added to the highest bid for the purchase price. We have a 10% buyer's premium which is standard for the auction industry. For example: If the highest bid was $100,000 then the purchase price will be $110,000. The buyer's premium should be taken into consideration when bidding at auction.
In order to be approved to bid on the property, either online or at the live auction, you must provide proof of fund/lender letter and winning bidder must furnish a bid deposit of $10,000, which will go towards the earnest money deposit. The winning bidder will provide an earnest money deposit of $10,000 or 10% of the contract price, whichever is greater due to the title company 48 hours following the auction. This 10% earnest money deposit is non-refundable.
The auctioneer and staff want you to understand the auction process. The auctioneer will go over the terms and conditions and then ask for any questions before the bidding starts. Once the auction start a bidding assistant, commonly called a "ringman" may help you in relaying bids to the auctioneer. If you are unsure what the bid is or who has the highest bid feel free to ask the "ringman" during the auction.