HOW TO BID:  TERMS AND CONDITIONS

Registration will be at 12pm on sale day

What’s Required to be a Bidder
A $5,000 Cashier’s Check is required at registration to bid on the real estate. Make the check out to Bellville Abstract
If you are not the winning bidder, your check will be returned to you after the auction.

Auction Details
-Traditional closing
-You will receive a current survey and title policy
-Taxes will be prorated at closing

10% Buyer’s Premium

Sale day announcements take precedence over printed material.

The property will be free and clear of any liens and the taxes will be prorated to closing.  We will have a bid packet out once we receive the title commitment. The bid packet will contain the terms of the auction along with the commitment, survey, disclosures, and a copy of the earnest money contract that we will be utilizing on sale day. You will need to have a Cashier’s Check in the amount of 5,000 dollars made payable to Bellville Abstract to be able bid. There will be a 10% buyers premium in effect for this sale. For example if you bid 100,000 the contract price will be your bid amount plus 10% which will be 110,000. If you bid 500,000 the contract price will be 550,000 and so on. On sale day you will have to put up 10% of the contract price as earnest money and be prepared to close with cash within 30 days of the auction. Your 5,000 cashier’s check will be applied to your 10% earnest money. You can give us a personal or company check for the balance of the 10% made payable to Bellville Abstract. This sale is subject to no contingencies so you will have to have any inspections you feel necessary done prior to the auction. It is not subject to financing so if you will be utilizing third party financing you will need to have a good understanding with your lender. Once again you must close with cash within 30 days of the auction or risk losing your earnest money.

Request a bid packet,
call 979-885-2400

For registration requirements, please contact Mark Switzer | 979-885-2400 | 979-885-8560 | [email protected]