Bidding Method
- Only buyers who have seen the home may bid on it.
- Bids may be left at any level, at any time prior to 8:00 P.M. Sunday evening.
- No one can enter the bidding after 8:00 P.M. Sunday evening, however bidding may continue into Monday if necessary.
- The bidding will be open. We will tell anyone the status of the bids at any time.
- The bidding will begin on Sunday night, starting at 8:00 P.M. We will call bidders in rotation until all bidders have had an opportunity to bid their final bid.
- The highest bidder prior to the round-robin bidding will have the opportunity to make the first bid when the final bidding begins. The next highest bidder will get the second call, and so on down the list.
- Every bidder will have the opportunity to top the high bid until the highest bidder is established.
- If there is more than one bid at the same level, the earliest bid will be honored, or the bidder with a lender pre-approval.
- Bids must be $500 apart ($99,000; $99,500; $100,000; etc.)
- The highest bidder (with a pre-approval from a lender) will be offered the home at the bid price. A high bidder without a pre-approval will be considered – pending Monday a.m. lender approval.
- The successful bidder will complete a standard purchase and sales agreement within 24 hours with earnest money being due at that time.
There will be a $3,000 discount off the high bid price for a cash and/or quick buyer.
*Please see Mortgage Lender on site, or find contact info on table.* |
