Bidding will continue until reserve price is met.
No pre-approvals wil be required to bid!

NOTICE:  This is a short sale subject to existing lender's and trustee's approval which will result in delays.  At this point, the response should not take a long time since seller approval is not necessary.

For this auction only:  Do not send in written offers until the auction is over and you are the winning bidder.  All offers must be submitted through this site by bidding on the property.  Once you bid we will contact you for loan pre-qualification or verification of funds to purchase.  If you are the winning bidder you will be contacted to sign an As-Is FAR/BAR purchase agreement with right of inspection, short sale addendum and applicable disclosures (also listed here as attachments).  A deposit of $5,000 will be required at signing of contract and will be non-refundable after the inspection period or if the lender and/or trustee does not approve the sale.  If you are financing please make sure your lender has your documents and approval updated.
Finally, this property is ready for offers.  This property has a month to month tenant.  The rent has been used to maintain the property.  Even though this property is a short sale it is not the typical unmaintained home.  All offers should consider that the bank and trustee approval are looking for an owner occupied price not an investor discount.

The good news is this sale will be a bargain!

1. To bid on our property, you must be of legal age to enter into contract to purchase real estate (18 in most states, 21 in others). If you're in doubt about the legal age to enter into contract in your state, please consult with competent legal counsel before bidding.
2. Buyers Agent commission of 2.5% is being offered.  Buyer's agent is protected as long as registered prior to beginning bidding.  Commission Agreement Required for short sales prior to acceptance of any offers when sale is  a co-broke.
3. All bids are placed in US Dollars.
4. If you are outbid by another bidder, you will receive an email notice so you can return and increase your bid if you so desire.
5. The bidding will be open and everyone will have access to the bid history during the auction.
6. As the auction nears the ending time it will auto-extend until bidding is silent for 1 minute.
7. If there is more than one high bid at the same level (a tying bid), the bid first submitted will be honored.
8. The high bidder will be notified via email after the auction ends.
9. Seller reserves the right to postpone or cancel this auction at any time for any reason.
10. Sale is “as-is”, "where-is". Seller will not fix anything.
11. At lease 2 business days prior to the auction close, bidders are required show proof of funds or obtain loan pre-approval from the approved lenders listed on this site.  See "Buyer-Offer Procedures" for details. 
12. Closing will take place at seller's and winning bidder's agreed upon title company within 30 days of signing the contract.
13. When contract is signed, winning bidder will pay $5000 earnest money to be held at title company handling the closing.
14. Winning bidder may, at their option and expense order a title examination and insurance.
15. Seller will include the following personal property in the sale: None
16. Seller will exclude the following real property from the sale: None
17. All Buyers are to get pre-approved prior to bidding whether cash or financing.  See the tab marked "Buyers-PreApproval for more details.
18. All offers must be submitted on contracts provided by the listing agent for the property  and are available for review on www.defaultrescue.com  prior to the end of an auction.  All offers are required to include the loan pre-approval.  Go to "Buyers-Offer Procedure" for details.
19. Many of the properties listed on this site are short sales and subject to lender approval and time delays.  Although we make our best efforts to disclose the status of the sale under these circumstances we can not guarantee the time frames we cannot control.
20. Buyers reaching the minimum reserve amount may call the listing agent and request a "Call" on the bid.  We will then move the bid date back to 72 hours and allow other interested parties to bid.  The Buyer winning the bid will then go to contract rather than waiting to posted dates for bidding.

Please contact Gidget Jackson at gidget@remax-downtown.com  239-410-1808