THIS IS A BID & ASSUME AUCTION. You are bidding on the down payment and the full purchase price is $7,500. The duration of the note is 15 months. On a $1 down payment, the monthly payment would be approximately $500/month, including principal, interest, property taxes, and servicing fee. There is no prepayment penalty to pay the note off faster.
The down payment (which will be equal to the winning bid) and a deed preparation and recording fee of $500, plus 10% fee (due to bid4assets) will be due within 3 business days of the auction's close and may be paid by, cashier's check, or wire transfer.
This is a land contract sale, where the deed is held in escrow and will not be recorded until the note is paid in full. All monies paid are non-refundable.PROPERTY WILL BE CONVEYED CLEAR OF ANY LIENS OR BACK TAXES!
PLEASE MAKE SURE YOU'RE READY TO FUND THE DOWN PAYMENT BEFORE YOU BID!
Bidders are responsible for due diligence prior to bidding.