How It Works

This is how the Auction process works !

1.  First we take care of all the advertising so buyers know that your home is for sale.

2.  People come and look at the home and decide if they would like to take part in the auction. There are no deposits and no prequalification* needed to bid.

3.  A bidder must have registered and viewed the home for sale by the date and time specified for each property.

4.  A bidder may leave a higher opening bid which earns you the right to be the first person to be called for an opening bid. There will be bidding sheets at the property to write in your opening bids. If you place an advance bid and are the highest bidder you will be the first one we call in the round robin (there are advantages to this). If you were second highest pre-bidder we call you second and so forth.

5.  If you are the winner of the auction you will be required to place a $10,000 (sellers discretion as to the amount) deposit with the designated escrow company. Fifty percent (50%) of that deposit is non-refundable to cover the costs of legal and escrow. We also will require the Fifty percent deposit to be released upon opening of the escrow to both pay legal and escrow cost.

6.  There is a normally a cash discount for anyone who can close the sale within the 30 day time period from the first business day (Monday) after the sale. Keep this in mind if you are able to take advantage during your bidding process. The amount of the discount will vary from property to property.

7.  After 60 days in escrow there is a daily charge per day. This is to cover the owner’s costs of mortgage, taxes, etc. to keep the property maintained but still gives you time if needed to get your financing in place. All paperwork will be handled by the escrow company.

8.  The auction style will be a round robin where we will call the highest opening bidder from the pre-bidding sheets. From there we will call each and everyone on the list. If we call and you don’t answer…we don’t call back. If you feel you have been missed, call us on the back line given to you on the information sheet from the viewing days.

9.  If we call and you are all done bidding please just say “I am done” and we will no longer contact you.

10.  Please only bid what you can actually perform on!

*Note –discounts for early performance will be obtained better by your having been “prequalified” by the Lender of your choice.