Rules and Terms

RULES/TERMS

1. No pre-qualification necessary all bidders welcome.

2. No one is legally obligated to buy the home at any time during the bidding process.

3. Bids may be left at any level, at any time prior to 6 PM Sunday evening. A beginning bid of $0.01 is acceptable.

4. Leaving a bid at the inspection simply gets one on the call list for the round-robin bidding on Sunday evening.

6. Bidders may drop out at anytime during the process. Each bidder has only ONE opportunity to re-enter the bidding so long as it is before the round-robin process has completed.

7. The bidding will be open. We will tell anyone the status of the bids at anytime.

8. The home will be sold to the best bidder in round-robin bidding at any given time.

9. The highest bidder prior to the 8pm deadline will have the opportunity to make the first bid when the round robin begins. The 2nd highest bid will get the second call and so on down the list. If there is more than one bid at the same price, the first chronological bidder will be called first.

10. Every bidder will have the opportunity to top the high bid until the best bidder is established.

11. Bids must be a minimum of $500 increments.

12. The best bidder will be offered the home at the bid price and terms.

13. The best bidder is expected to present a sales contract within 24 hours of the bid acceptance.

14. If for any reason the best bidder cannot fulfill their purchase agreement terms, the second best bidder will be contacted and offered the home.

15. The sellers reserve the right to extend bidding to subsequent evenings if the round-robin process runs late into the night.

16. The sellers reserve the right to reject any bid for any reason.

17. Seller reserves the right to determine the “best bid.” The highest priced bidder may not be considered the “best bid.” Cash bidders may be given priority.

18. The final bid may be subject to lender approval.

19. Home sold AS-IS unless otherwise noted.

20. Best bidder and seller will determine a time and location to execute the purchase agreement within 24 hours.

21. Terms of the sale are subject to State Law

22. Realtor Commissions must be added to the final bid.