Selling To The Best Bidder on
Sunday, June 21, 2009
>>>> Starting Bid is only 52% <<<<
of market value!
Recent Comparable Sales Are Over $156,875
Zillow.com has this home valued at $157,900
This Cozy and Inviting home
will be sold to the highest acceptable bidder on Sunday evening.
2747 Green Estates Drive, Snellville, GA 30078
The most recent comparable sales will be provided at the Open House
We will have an open house from
1pm - 5pm Saturday, June 20
1pm - 5 pm Sunday, June 21
Get a detailed info packet on this home and get
FREE email notification of all the properties offered on Round Robin Bidding.
We sell several homes starting at 52% of market owned by
EXTREMELY motivated sellers.
QUESTIONS AND ANSWERS ABOUT ROUND ROBIN BIDDING
Q: Why is the home being sold by Round Robin Bid Process?
A: Because the bidding process allows all buyers to come to the home in a short period of time so it provides a fast and convenient way to sell a home in a manner that is fair to both buyers and Seller. We need to sell this home FAST. That is the reason for the exteremely low starting price.
Q: How does the Round Robin Bidding work?
A: The Round Robin Bidding approach is a buyer friendly approach that eliminates the usual risks associated with buying at auction. On Saturday and Sunday there will be an open house from 1pm to 5pm to visually inspect the property and sign up to participate in the bidding as well as place an initial bid. The final bidding is held by phone on Sunday evening. Starting at 8pm each bidder will receive a call informing him or her of the current bid and offering them the opportunity to increase the bid in order to proceed to the next round. Rounds will continue until only one highest bidder remains. Buyers will need to be available by phone Sunday evening to receive multiple phone calls.
Q: How do you sign up?
A: Come to the open house and visually inspect the home; fill in your name, phone number and bid on the bid sheet.
Q: What are the rules?
A: You need to visit and inspect the property during the open house. Complete the bid sheet so that you can be contacted on Sunday evening. You will need to be available Sunday after 9pm to sign the contract of you are the winning bidder. If you are the highest bidder and you cannot comply, and alternative arrangements are not made prior to Sunday night, we may elect to call the next highest bidder and you may lose your chance to buy the home.
The Seller may decline any and all offers not acceptable to them.
Q: How much do I need for a deposit?
A: You will need a small deposit Sunday evening only if you are the winning bidder (usually $1,000). Financing pre-approval will be available to you the day of the open house if needed.
Q: What happens to the deposit?
A: If you are the successful bider, the deposit will be written in your contract as "earnest money" and will be applied to the purchase price.
Q: Will there be any liens or encumbrances on the home?
A: No, you will receive a Warranty Deed and we will even purchase owner's title insurance for you. Any mortgages or debts against the property will be paid from the proceeds of the sale so that the home is completely free and clear.
Q: Will the purchase and sale agreement allow for any contingencies?
A: Yes your offer will be contingent upon your getting financed for the home and contingent upon a satisfactory home inspection.
Q: Will we be able to find out the current high bid?
A:Yes. We will tell anyone at any time what the current high bid is.
THE FOLLOWING IS VERY IMPORTANT!
You must register your name, telephone number, an alternative telephone number, e-mail address and initial bid amount at one of the Inspection/Open House Dates/Times. Only registered bidders can be included in the final Round Robin Bidding process, and you must enter complete informtion. Regardless of your bid amount, you will able to participate in the final bidding.
Making a bid at the Open House DOES NOT OBLIGATE YOU to buy the property, it only allows you to participate in the private telephone bidding process and establishes bidding order.
The Round Robin Bidding process will begin at 8:00pm via telephone. We will call the interested bidders who have registered until there is one high bid, and no other bidder wishes to top it. All bids will be in a minimum $500 increments. If there is more than one bid at a level, the earlier bid will be honored.
The caller will say: "Currently there are "X" number of bidders in this round and the current high bid is $_____ . Would you like to advance that bid?" You can take the opportunity to advance the bid (usually in $500 increments) and be included in the next round or decline and drop out from the bidding (again...there is no obligation.) Once you drop out we thank you for participating and you will not be called again.
Once down to the final 2 bidders, (sometimes 4) we will start to inquire as to your financing and any contingency terms. (All cash, contingent upon bank financing, approval letter, contingent upon the sale of your house, etc.)
Sale for the Highest and "BEST" Bid/Offer. Example: an "All Cash" offer closing in less time may take precident over a "Higher" offer contingent upon financing and taking longer to close, or that is contingent upon the sale of a house. Seller reserves the right to accept, reject or rescind any and all offers tendered. An acceptable offer for sale is not bound until a valid Purchase and Sale Agreement using an approved GAR (Georgia Association of Realtors) form has been fully executed, and an Earnest Money check (certified funds is preferred which may be immediately deposited into the escrow account of the Listing Broker to be held until the close and applied to the purhcase price of the property) has been received. We need to sell this home FAST so if you get pre-approved while at the home, you will get a great price on the home.
If you are the winning party, we will make arrangements to meet you at the home to execute the GAR Purchase and Sale Agreement. Earnest Money deposit (in the minimum amount of $1,000 or 1% of the final sale price, whichever is higher) will be due at this time. Clean and marketable title will be conveyed by the Seller at Close.
Get a detailed information packet on this home and get FREE email notification of all the properties we offer on Round Robin Bidding. We sell several homes with bids starting at 52% of market, owned by EXTREMELY motivated sellers.
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