Please note that this auction is available only for online bidding. The auction will close on Monday, October 5, 2009. Click the banner at the top of the page to go to the storefront for more details on the televised auctions.
PLEASE READ CAREFULLY- Bid4Assets Real Estate Buyer Responsibilities
Some sellers buy large "pools" of under-valued properties from banks. The seller may not inspect every property prior to sale. The seller represents these properties to the best of their knowledge. In some rare cases, property may have severe damage or be subject to county/city orders not described in the auction. It is highly recommended that interested bidders arrange for an external inspection personally or through a designate and that they contact the county or city in which the property is located to confirm the status of the property.
Bid4Assets reminds all potential real estate bidders that it is your responsibility to complete all due diligence needed to determine the condition, market value, or investment value of this asset prior to placing a bid.
Necessary due diligence items may include, but are not limited to,
A satisfactory inspection of the property
Completion of a title search
Investigating back property taxes and
Other - liens and encumbrances such as unpaid utility bills.
By placing a bid, you acknowledge that any statements made by the seller about the condition or market value of the property are subjective, and do not release you from your responsibility to perform due diligence. Please contact Bid4Assets if you believe that a seller is intentionally misrepresenting a property in their auction.
Settlement Requirements
This auction requires that the winning bidder pay a Buyer's Premium of 10.00% of the winning bid amount. (The Buyer's Premium covers the costs associated with the auction).
This amount will be added to the winning bid and will be included in the total purchase price paid by the Buyer to the Seller.
Payment Type
Settlement Agent
The sales contract will be sent within 24 hours after close of the auction, see Additional Details tab for a sample contract
Buyer must return sales contract within
48 hours after auction closes
If financing, mortgage approval must be received within
72 hours after close of auction
Closing will take place within 30 days after auction
closes
Buyer pays a deposit of $2,000, or
10% whichever is higher. Deposit is non-refundable.
For TV auctions, earnest money deposit will
be taken over the phone by credit card.
For online auctions, deposits
are accepted through cashiers check.
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