Why is there an auction?
The Sellers’ of these Properties have chosen the Accelerated Marketing Method in order to sell their properties in an expedient and timely manner. Part of their reasoning includes the enormous amount of holding costs to maintain the properties (e.g., real estate taxes, insurance, association dues, the cost of money, etc.). With these sales, both the buyers and the sellers should be pleased. The Buyer(s) should be able to obtain these properties at a very reasonable price. The Sellers will be able to alleviate their tremendous burden of carrying costs.
What is an absolute auction property?
Properties offered at Absolute Auction will be sold to the highest bidder, regardless of price, with no minimums and no reserves.
What is a property sold subject to the seller’s confirmation?
Properties that are sold subject to the Seller’s confirmation are offered with the Seller reserving the right to reject a top bid for any or all of the properties. If the brochure does not reflect “Absolute” in the property, then it will be sold subject to Seller’s confirmation. However, Sellers spend a great deal of time and upfront money on an Accelerated Marketing Program. They are definitely motivated to sell.
Can I use the services of a real estate broker to assist me?
Antique Auctions welcomes and encourages Broker participation. Broker Registration Forms are available for download on individual Property sites with specific terms for that Property.
What title evidence will the buyer receive?
The Seller will typically provide for Title Insurance on each property purchased and closed in accordance with the terms of the Real Estate Sales Contract.
Is the description information in the brochure and newspaper ads guaranteed?
In an Accelerated Marketing Program when numerous properties are involved, errors are possible. Again, buyers must rely on their own inspection, judgment, records and own information. As indicated in the brochures, all announcements from the Auction block will take precedence over any previously printed material or any other oral statements made. All sales made by the Seller are on an “As Is”, “Where Is” basis and without representation or warranty of any nature whatsoever.
What does it mean to buy the properties in as is condition?
Buyers purchase the Properties with no guarantees in regards to the condition of the properties. Buyers shall rely entirely on their own information, judgment, and their own inspection of the properties.
- Execution of contracts will be handled by on-site licensed auctioneer.
- Potential Bidders can view and inspect properties by themselves (at their own risk for vacant land parcels) or attend scheduled previews indicated in the brochures (improved properties only).
- Each buyer must have a catalogue for bidding and endorses a Bankers cheque deposit on or before the day of the sale.
- Please make sure that you make bankers cheque deposit. This will make it easier for refund and to re-deposit, should you not be the successful high bidder.
- All Buyers are urged to review all documents necessary for the transaction within the Property Information Packages. Property Executive Summaries are also a part of the Property Information Packages.
- All announcements made on Auction day take precedence over any written or advertised materials; however the Real Estate Sales Contract as executed shall be controlling.
- Absentee Bid Forms are available for most sales. Contact Antique Auctions for more information.
- Antique Auctions and the Seller wish you the best of luck in the bidding process.
- Information contained in this material is prepared to assist a prospective buyer with the bidding process. Neither does the Seller nor Antique Auctions guarantees the accuracy of the material and bidders are urged to review the specific terms and conditions of each specific sales initiative.