General Explanation of Auction

So, what’s going on here?

We are selling our property this way to hopefully save you money and to complete the transaction quickly. The bidding process is held to allow YOU to set the market price. We fully expect the final bidder to have an INSTANT EQUITY opportunity. Once the bidding is complete the transaction is the same as any other home purchase in the State. There is nothing hidden or secret about the process. We will be conducting bidding out in the open.

The process only requires us to have the home open to show for one weekend and beats the heck out of the traditional “list it and wait” strategy.

Does it work? We’re 100% committed to selling our home this way. Check back here to see the results of the sale.

Frequently Asked Questions

Why are you selling the home?

We need to sell the home for personal reasons.

Are Agents Welcomed?

Absolutely. However, the commission paid to that agent must be paid by buying party.

Are you really going to sell your home to the highest bidder?

Absolutely. We are 100% committed to this process and look forward to any and all bids

Do I need to be pre-qualified to bid?

No. We will work with the highest/best bidder after the bidding process to make sure you qualify for the loan.

What if I am the highest bidder and I am unable to buy the home for any reason? Absolutely nothing. If you are the highest bidder we will expect you to send us a purchase agreement within the allotted time. If at any time during the escrow period you cannot perform on the contract we will simply return your earnest money, move on to the next highest bidder and cancel your contract. No harm, no foul. Our goal is to sell the home quickly, not to enter into some type of legal process. See the Rules/Terms for more details.

What happens if I bid too much?

Most lenders in this state will perform their own appraisal of the property. If you bid too much your bank will let us know and we’ll have to adjust the price accordingly. Don’t worry about over bidding. Just be the high bidder so you get the first chance to buy the home!!!!

We plan on selling our home to the highest and best bidder on Sunday beginning at 8 PM. A round-robin bidding process will be conducted via phone after the open house/inspection period has completed.

Can we negotiate upgrades or modifications into our final price?

Absolutely. We encourage you to alter and modify it to make it your own. Please be sure to disclose exactly what you would like done in your purchase agreement and we can work out your final price. This allows you to build this cost into your mortgage rather than to pay it out-of-pocket after the fact.