BIDDING RULES

No pre-qualification is necessary to bid, however, bidders must be pre-approved prior to contract signing. All bidders are welcome! This is not a HUD auction, IRS auction, “repo” auction, or foreclosure auction. (See “Terms of Sale” page for clarification of qualification rules)

  1. The bidding process will be conducted by the Owners.
  2. Only buyers who have seen the home during the Open Houses on March 15th and March 16th may bid.
  3. If you wish to be included in the bidding process, then provide the following before 5 pm on Sunday evening, March 16th, 2019
    • Your name
    • Telephone number where you can be reached Sunday evening
    • Preliminary bid amount
  4. The round-robin bidding will start at 7:00 pm on Sunday evening, March 16th, 2019
  5. All preliminary bids must be multiples of $500 and can be left at any time prior to 5pm on Sunday evening.
  6. No one can enter the bidding after 5pm on Sunday.
  7. The bidding will be open. We will tell anyone the status of the bids at any time.
  8. Every bidder will have the opportunity to top the high bid until the highest bidder is established.
  9. When the round-robin bidding opens we will telephone the highest bidder first.
  10. We’ll call the next highest bidder next; and so on down the list until all bidders have been called.

We will conduct several rounds in this manner until there is only one bidder left.
Each time you receive a call you have two options:

  1. Raise the high bid by $1500 or more in multiples of $1500
  2. Retire from the bidding process

We will offer the home to the highest bidder at his or her highest bid price.
If the highest bidder does not purchase the home or meet the conditions of the terms of sale, the home will be offered to the next highest bidder at his or her final bid price.
Any bid submitted by a buyer does not commit you or the owners legally. It is only a bid, not a legally binding contract. The owners reserve the right to reject any and for all bids without explanation