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Terms of Sale
SETTLEMENT: The settlement process is the same as in a conventional residential sale.
CONTRACT: At the close of bidding, an appointment will be made with the highest and best offer bidder to complete a purchase agreement and accept a 5% earnest money deposit, which will be held in a designated escrow account. Failure by the initial successful bidder to sign the purchase agreement within 24 hours will disqualify that bidder. If the highest and best bidder is disqualified, the next highest and best bidder will be notified immediately.
PURCHASER QUALIFICATION: Bidders must initiate financing on this home, if applicable, within 24 hours of contract acceptance. Proof of the bidder’s ability to pay the purchase price, and/or qualify for financing, must be in the form of a written letter of qualification from a financial institution and must be provided within 5 business days of contract acceptance. Purchaser should plan on closing within 30 days of contract acceptance; unless other extenuating circumstances are agreed to after purchase qualifications are met. Should the highest and best offer bidder fail to show his or her ability to pay the purchase price, or prove qualifications for financing within the specified 5 day period, or prove unable to close this sale within the 30 day period, then seller reserves the right to terminate the sale process and offer the property to the next highest and best offer bidder under the same stipulations. The owners reserve the right to reject any or all bids and terminate the sale process at any time without explanation to any potential buyer with the exception of a duly executed contract.
CLOSING COSTS: Closing costs and any points are at buyer’s expense. Sellers are responsible only for there costs. Taxes for current year shall be prorated between parties. Seller will follow typical requirements provided in state law.
INSPECTION REPORT & DISCLOSURE: Seller has provided both a current inspection report and a state Property Disclosure Statement.
REALTOR OR BROKER FEES: Seller will not be responsible for any commission or fees due to a Broker or Real Estate agent representing a buyer. If a Broker or Real Estate Agent elects to bid on behalf of his/her client, all bids MUST BE NET TO SELLER and buyer will pay any fees, monies or commissions due to the broker or real estate agent separately.
SALES POSTPONEMENT/CANCELLATION: Owner reserves the right to postpone or cancel the sale if, in their opinion, an insufficient number of calls are received by Friday evening or due to illness, foul weather or force majeure. In any such event, the sale may be cancelled altogether or postponed to an alternative weekend. Notice will be given to all...so we encourage you to call leaving your name and phone number specifically for this purpose.
This is a sale with a Minimum Undisclosed Reserve.
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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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