Property 4312: Terms (last updated: 12/26/07)

Total Deposit
15% down. See below for guaranteed deposit requirements.

Guaranteed Deposit
A good faith registration deposit in the form of a $35,000 bank cashier's check (made payable to yourself) is required to register to bid at the time of the Auction and will be credited towards the 15% deposit. The remainder of the deposit may be paid by personal check. Seller reserves the right to accept other forms of payment. The amount of the guaranteed deposit is not based on the value of the property.

Settlement
On or before 30 days from the date of the Auction.

Agreement of Sale
The Agreement of Sale will be posted several days prior to the auction.

Absentee Bidding by Telephone
Arrangements by signed agreement of sale and guaranteed deposit must be made with the Traiman office no later than one week prior to auction.

On-Site Bidder Registration
Begins 1 hour prior to Auction.

Minimum Opening Bid
There is no minimum opening bid.

Real Estate Brokers & Agents Invited
Earn a commission. Register your buyer no later than 48 hours prior to the auction by Traiman's form including your client's signature. Agents buying for themselves or family members are not eligible to collect a commission. Download form and guidelines (2 page PDF).

First time auction attendees
The open public auction method is where the parties who are interested in bidding on the property gather as an audience and bid in an open public forum. You will be asked to register at the time of the auction and display your $35,000 Bank Cashiers Check or cash. Before the bidding begins the auctioneer will review the terms of the auction and explain how the bidding will occur. Most people bid by raising their hand. The auctioneer calls out the numbers in a clear understandable cadence. Our intention is to make you feel comfortable with the process before you enter the bidding. You need not be represented by a Real Estate Broker to bid and buy at auctions.

We suggest that you contact a mortgage company or bank prior to coming to the auction for the purpose of determining how much of a mortgage you will qualify for. If you are the winning bidder and cannot get a mortgage or for some other reason are unable to complete settlement the total amount that you deposit will be forfeited.

The property is being sold free and clear of all liens and encumbrances as stated in the Agreement of Sale – Please review the Clear of Liens and Encumbrances Clause of the Sale Agreement.

Good Luck!

Notice
The information used for the advertising of this property may not be accurate. Measurements, figures, and drawings are approximate. Interested parties must do their own research and are not to rely on any information provided by the seller, the auction company, or their representatives. The Agreement of Sale takes precedence over any advertising or oral or written announcements. Auctioneer represents the Seller, not the Buyer. Subject to good and marketable title. Auctioneer reserves the right to reject bids that the auctioneer deems inadequate. If you have a question at during the auction, please notify an auction staff member for a private conversation. Seller and the auction company reserve the right to have parties escorted from the premises for soliciting other bidders or for other reasons deemed inappropriate. Information contained herein is subject to change.

Back to Property Information