Terms of the Auctions
10% Buyers Premium
There will be a 10% Premium added to the winning bid. Please take this into consideration when bidding. For example, if the final bid is $1,000,000 there will be an addition $100,000 Premium added, making the final purchase price $1,100,000.
All taxes & closing costs are the responsibility of the buyer.
This includes current, past, and delinquent taxes. Closing costs including deeds and title search are the buyer's responsibility.
Current leases transfer with the sale of the property. Leases are legally binding obligations between the landlord and the tenant.
Closes in 30 days
The closing will be set for 30 days out unless otherwise agreed upon. Bidders are urged to have financing in place. A delay in closing may result in extra fees.
Sells as-is, where-is
There are no contingencies for repairs or inspections. All inspections should be completed before auction. Private showings available with 24 notice.
10% Non Refundable deposit due 3 business days after auction
Make the check out to M&M Title. The winning bidder's check will be put towards the down payment.
Realtors must register 48 hours before auction
Only registered realtors are entitled to a commission if their client is the winning bidder. When registering, the realtor must include their client's opening bid. The realtor is entitled to 2% of their client's opening bid and 1% of any advancement of that price.