Pre-Auction Procedure

Each prospective bidder is required to register before being allowed to bid. Each bidder must present a certified check, cashier's check, in an amount of $10,000. made payable to International Real Estate Auction or payable to the bidder (which will thereafter be endorsed to International Real Estate Auction upon a winning bid). This check will used to apply to the initial earnest money on a winning bid. ONLY a certified check, cashier's check, will be accepted.

Purchaser's Responsibility

Each potential purchaser is expected to have made an on-site inspection of the property, reviewed its related documents prior to the auction, and bid after having made and relied solely on his/her own independent investigation and inspection of the property. Potential purchasers acknowledge that the sale of each property offered will be made on as described in the Real Estate Contract.

Auction Procedure

By bidding at the auction, each bidder agrees to be bound by these terms and conditions of sale. All information contained herein and all other auction-related material is subject to and superseded by the Real Estate Contract which is made available to prospective bidders prior to the auction and which should be reviewed prior. All bidding is open and public. Announcements made by the auctioneer at the auction will supersede any written information, except the Real Estate Contract.

The Successful High Bidder: The winning bidder must immediately present the the additional deposit required equal to 10% of the sales price and will be required to sign the Real Estate Contract, with the balance due at closing within 30 days.

Bid Acceptance

The properties in this auction is being offered on a reserve basis. Final bids are irrevocable and are subject to Seller's acceptance If the high bid is not accepted by Seller all earnest money shall be refunded to the high bidder. The high bid can be accepted only in a writing signed by Seller, and the auctioneer is not authorized to sign an acceptance on behalf of Seller.

Brokerage Participation

Will pay a referral fee to licensed real estate salesperson/brokers. To qualify you must obtain and return signed cooperating agreements which outline in detail the conditions required to earn a fee. 

The closing for the property will take place on the date specified in the Real Estate Contract. At the time of initial closing, the purchaser shall pay the sum required to purchase the property.