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Bidding Rules
No Prequalification Necessary. All Bidders Welcome! This is not a HUD auction, IRS auction, “repo” auction, or foreclosure auction. This is a marketing plan to bring the buyer and the seller together quicker in a condensed, mutually beneficial, selling period of time. (See “Terms of Sale” for clarification of qualification rules.)
1. The bidding process will be conducted by Tom Kitas and Tony Satamura 2. Only buyers who have seen the home during the Open Houses on May 19th and May 20th may bid on it. 3. If you wish to be included in the bidding process, then provide the following before 6pm on Sunday evening, May 20, 2007: Your name Your Email Address Sunday evening telephone number Initial offer 4. The bidders will be called back from highest and best offer. 5. All offers made are based on cash, conventional, seller financing*, or lease purchase** and an offer price. 6. All preliminary bids must be multiples of $500 and can be left at any time prior to 6pm on Sunday evening. 7. No one can enter the bidding after 6pm on Sunday 8. The bidding will be open. We will tell anyone the status of the bids at any time. 9. Every bidder will have the opportunity to top the current bid until highest & best offer is established. 10. When we start calling back bidders on Sunday Night we will telephone the highest offer first. We will continue to call bidders based on the next best offer. As soon as 1 bidder reaches the highest and best offer the process will be over.
If an acceptable offer is not reach after calling all bidders there will be another round of calls from the highest and best offer down the line. This will be a second chance for all bidders to make one last and final offer.
1. If the highest/best offer bidder does not meet the conditions of the terms-of-sale or fails to provide credible ability to purchase the home – the home will immediately be offered to the next highest/best offer bidder at his or her final bid price.
Important Note: For your protection: The bids are not legally binding contracts and can be withdrawn at anytime.
For the owner’s protection: The owner reserves the right to reject any and/or all offers without explanation with exception to an accepted contract being processed.
Back-up purchase agreements will be taken.
This is a sale with a Minimum Undisclosed Reserve. GOOD LUCK!
* Seller financing will require 10% down and at least a 600 credit score. Qualification for seller finance is less than a conventional lender.
* Lease Purchase offer will require 5% down.
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Open House Contact Info |
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Inspection Hours Owner Direct Info
● 12pm to 5pm ● Phone: 843-450-6362 ● Saturday & Sunday 843-602-4195 ● May 19 & 20, 2007 ● Email: click to email seller ● Call 888-340-2578 for a 24-Hour Automated Description. |
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