Buying at Auction
Terms of Sale for
Foreclosures
In order to participate and bid at an
auction, one must have the appropriate
deposit as specified below with him/her at
the time and place of the auction. Auctions
take place on the property. Registration is
complete after signing in with the
auctioneer and showing him/her the deposit.
All deposits are to be shown to the
auctioneer at the time and place of the
auction. Deposits must be in the form of
cash, certified check or bank check. The
check should be made out to yourself.
When the property is sold, the highest
bidder will be required to endorse the check
over to the law firm immediately upon the
property being sold. The auctioneer will be
working with the high bidder in completing
the paperwork in completing the transaction.
After the check is endorsed, the high bidder
will be required to sign a Memorandum of
Sale (Purchase & Sale Agreement) in
triplicate.
In most cases or otherwise noted, the
balance of the purchase price will be due in
30 days. Any and all other terms shall be
announced at the time and place of the sale.
The auctioneer makes no representations as
to the accuracy of the information contained
in any advertisement in print or on the
internet.
In order to qualify as a bidder at the
auction, one must have the appropriate
deposit as specified below with him/her at
the time and place of the auction.
All deposits are to be shown to the
auctioneer at the time and place of the
auction. Deposits must be in the form of
cash, certified check or bank check. The
check should be made out to yourself.
The high bidder will be required to endorse
the check over to the law firm immediately
upon the property being sold. After the
check is endorsed, the high bidder will be
required to sign a Memorandum of Sale
(Purchase & Sale Agreement) in triplicate.
In most cases or will be otherwise noted,
the balance of the purchase price will be
due in 30 days. Any and all other terms
shall be announced at the time and place of
the sale. The auctioneer makes no
representations as to the accuracy of the
information contained in any advertisement
in print or on the internet. |