 --OUR UPCOMING AUCTION--
AUCTION THIS WEEKEND!
Be the highest and best bidder to buy this Home On September 14th.
Attend our auction "OPEN TO EVERYONE IN THE PUBLIC" on September 13th and 14th between 12p-5p to purchase the beautiful home we have available for sale to the highest and best bidder. Located at 141 Kentwood Springs, Hampton, Georgia 30228 in the LegancyCommunity of Hampton in Henry County. Major cross street is McDonough Road and near the Henry County Correctional Facility.
The value of this home is estimated at $185,000 and the starting bid price is $89,500 and will be sold to the highest or best reasonable offer. Inspection of this home will be on Saturday September 13th and Sunday September 14th only, from 12pm to 5pm on both days. You will be able to get all of your questions answered and get very detailed information about the house and the bidding process on both Saturday and Sunday. Please feel free to drive by the home and take a look at the outside before the inspection times. To be fair to other bidders, this home cannot be viewed before Saturday, September 13th beginning at 12noon. This home will be sold Sunday night September 14th to the highest and best bidder. No one may bid on the home unless they, or someone that represents them, has inspected it first and there is no deposit required to bid.
This home was built in 2005, it has 4 bedrooms plus bonus room with 2 full bathrooms and 1/2 bath, and is approximately 2,860 square feet. It is a split level home with a fully finished basement and a large fenced in backyard. The kitchen has a breakfast area and bar. The huge master bedroom has trey ceilings with a large master bathroom. There is a 2 car garage with additional storage room. The property is conveniently located minutes from I-75 and Exit 235 (US Highway 19). . It is in a great school district serving Holly Springs Elementary School and Chapel Hill Middle School and High Schools.
Again, please feel free to drive by the home to take a look at the outside and to check out the neighborhood before the inspection times. The home will not be available for showing until the weekend of September 13th & 14th from 12pm to 5pm on both days.
See pictures of this home by clicking the home to the right, get directions, and get more detailed information on the auction process call (404) 348-0104
LOOK FOR OUR CLASSIFIED AD IN THE HENRY COUNTY NEWSPAPER(S):
Quick Overview
· Inspection of this home will be on Saturday 09/13 and Sunday 09/14 only, from 12pm to 5pm. After inspecting the home, please leave your bid on the Initial Bidding Sheet. There is absolutely no deposit required to bid. We will take new bids until 5:00 PM Sunday night.
· Starting at 5:30pm Sunday, we will start the round-robin bidding by calling everyone back that has left a bid prior to 5:00pm on Sunday. The lowest bidder will receive the first call and they will be informed of the highest bid price submitted. The lowest bidder will be given the opportunity to increase their bid by $1000.00 increments. The round robin bidding process will continue with calls to everyone else who has left a bid, and each bidder will be offered the opportunity to increase their initial bid.
· We will offer the home to the highest & best bidder at his/her bid price. If the highest bidder is unable to purchase the home, the second-highest bidder will be contacted. If the second-highest bidder is unable or unwilling to purchase the home, the third-highest bidder will be contacted and so on.
An appointment will occur within 24 hours after the close of bidding to complete a sales and purchase agreement and accept an earnest money deposit. The closing process is the same as with any conventional home sale and should be competed in about 30-45 days.
Answers to Common Questions about our Auction
Q: Will you really sell it for that low price?
A: We’re hoping it will go higher, but if not, we’ll accept the best reasonable offer.
Q: Can I get inside early?
A: No. Because we have to keep the bidding fair for everyone, no one can inspect the home prior to Saturday, September 13th at 12:00pm.
Q: What’s the catch?
A: There’s no catch. We’ve decided to let the market decide what the house is worth, in the fastest, fairest way possible.
Q: Do I have to pay cash?
A: No, this is a regular sale, so you can get a loan to buy it. We’ll pay our Seller side customary closing costs, and the Buyer will pay theirs, just like a normal sale.
More Frequently Asked Questions
Q. Why are you selling your home?
A. The current owner is relocating.
Q. Why are you selling this home so cheap?
A. To generate enough interest in our house to bring out enough people who are in the market to buy a home and then let them tell us what our house is worth.
Q. Why are you selling your house this way?
A. To get a quick sale. Most real estate agents will list a house high and wait for a buyer because time is on their side. The more time that goes by while the house sits unsold, the more motivated the seller becomes and the more likely it is that the seller will lower their price. We want a buyer to tell us what they are willing to pay for our house today.
Q. Do you require any kind of deposit to bid?
A. No we don’t. An earnest money deposit is the only deposit required if you are the successful highest bidder within 24 hours after the completion of the round-robin bidding.
Q. What are the terms for the sale? A. Conventional financing or cash.
A $2500.00 discount will be given for an all cash purchase for a quick and easy closing.
Q. Do you have any lenders we can get financing from?
A. Yes we do. We work with some great mortgage brokers that can help you get financing even if you have credit challenges.
Q. Will I be able to get my own home inspection completed?
A. Yes you will. You will have up to 10 days to do your due diligence on the property.
Bidding Rules & Method
No pre-qualification is necessary to bid. All bidders are welcome! This is not a HUD auction, IRS auction, “repo” auction, probate auction, or foreclosure auction. (See “Terms of Sale” page for clarification of qualification rules.)
1. Only buyers who have seen the home and inspected it may bid on it.
2. If you wish to be included in the bidding process, then provide the following before 5:30 PM on Sunday evening, September 14th, 2008
· Your name
· Sunday evening phone number(s)
· Your preliminary bid
3. Bid on the home as-is.
4. All preliminary bids for sale must be in multiples of $1,000 and can be left at any time prior to 5:00 PM Sunday evening.
5. No one can enter the bidding after 5:30 PM Sunday evening.
6. The bidding will be open. We will tell anyone the status of the bids at any time.
7. Every bidder will have the opportunity to top the current bid until the highest & best bidder is established.
8. The home will be sold to the highest & best bidder in round-robin bidding by telephone on Sunday night after the inspection period starting at 5:30 PM. To enter the round-robin bidding you must leave a bid prior to 5:00 PM Sunday night.
9. When the round-robin bidding begins, we will telephone the lowest bidder prior to the round-robin bidding first to let them know that they are in fact the lowest bidder and to give them the opportunity to top the highest bid .
10. The next lowest bidder will get the second telephone call to see if they would like to top the current high bid, and so on down the list until all bidders have been called.
11. Every bidder will have the opportunity to top the high bid until the final highest bidder is established. Bids must be $1,000 apart. Each time you receive a call, you have 3 options:
· Raise the high bid for the sale by $1,000 or more in multiples of $1,000
· Stay at your current bid
· Quit the bidding process
12. If there is more than one bid at the same level, the earliest bid will be honored.
13. The highest/best bidder will be offered the home at his/her bid price.
14. An earnest money deposit of 1.5% of the sale price will be required and collected from the highest and best bidder within 24 hours after the completion of the round-robin bidding.
15. If the highest and best bidder does not meet the conditions of the terms-of-sale or fails to provide credible ability to purchase the home, the home will immediately be offered to the second highest and best bidder at his/her final bid price. If this bidder is unable or unwilling to purchase the home, the third-highest and best bidder will be contacted.
Preference For Cash
Any bidder who can pay all cash for the purchase is preferred. An all cash sale will speed up the closing time and save the seller interest. Therefore, all cash offers are given a $2,500 discount. For example, a $200,000 cash bid will be treated as a $197,500 final sales price.
Important Note
For your protection: The bids are not legally binding contracts and can be withdrawn at any time.
For the seller’s protection: The seller reserves the right to reject any and/or all bids without explanation with exception to an accepted and executed sales contract being processed.
This is a sale with a minimum undisclosed reserve.
Back-up purchase agreements may be taken.
You may contact the seller directly at any time: (404) 348-0104
Bidding Strategy
In General:
- As a bidder, you are not competing with the seller. You are competing with other bidders.
- It is in the seller’s best interest to conduct the bidding in a fair, honest and open fashion.
- This is not an outcry or absolute auction. Outcry and absolute auctions are characterized by strict rules, no time to think during the process, and cash in hand. Bids are taken leisurely. As a bidder, you have enough time to fully consider your bids and what you are doing. Neither party is legally obligated.
- Real estate agents are welcome to bring and bid on behalf of their clients. All bids must be net to seller. The client will be responsible for paying any negotiated real estate commission in the event of a sale.
During Inspection Period:
- If you do not know what to bid, make a bid that you know will not be the highest. If you need to, ask for help. You’ll then be called after the inspection period and be informed of the highest bid. You may increase your bid at that time.
- Being the highest bidder going into the round-robin bidding gives you an advantage. You’ll be the first bidder contacted in the final bidding process.
During Round-Robin:
- Raising your bid in large increments may initially scare some buyers off and help you eventually win with a lower price. This is called preemptive bidding.
- If you are in the running and the bid is increased beyond what you are willing to pay, you can make a final bid at a comfortable level below the highest bid, hoping the highest bidder drops out at some point.
Terms of Sale
Contract: An appointment will occur within 24 hours after the close of bidding to complete a purchase agreement and accept a 1.5% earnest money deposit, which will be held in escrow by a designated escrow agent. Failure by the high bidder to sign the purchase agreement within 24 hours will disqualify that bidder. If the highest bidder is disqualified, the next bidder will be notified.
Purchase Qualification: Buyer must initiate financing on this home, if applicable, within 1 day of contract acceptance. Proof of the bidder’s ability to pay the purchase price, and/or qualify for financing, must be in the form of a written letter of qualification from a financial institution and must be provided within 7 days of contract acceptance. Purchaser should plan on closing the purchase within 30-45 days of contract acceptance.
Should the high bidder fail to show his/her ability to pay the purchase price, or qualify for financing within the specified 7 day period, or prove unable to close the sale within the specified 30-45 day period, the seller reserves the right to terminate the sale process and offer the property to the next highest and best bidder under the same stipulations. The seller reserves the right to reject any or all bids and terminate the sale process at any time without explanation to any potential buyer with exception to an accepted purchase agreement.
Closing Costs: We will pay the customary Seller’s closing costs for this transaction in order to expedite the sale.
Sale Postponement: Seller reserves the right to postpone or cancel the sale if in his/her opinion a sufficient number of calls are not received by Friday evening before the inspection times, or due to illness, foul weather, or acts of God or war. In this event, the sale may be canceled or rescheduled for an alternative weekend. Notice will be given to all.
This is a sale with a Minimum Undisclosed Reserve.
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DISCLOSURE
We are going to sell our home this weekend and close quickly. If you can’t qualify to close in 30 days, we are happy to see you, but you won’t be able to buy our home. We are looking to sell FAST. We will pay the customary Seller’s closing costs for this transaction in order to expedite the sale. We did our best to get the most out of this beautiful home. Our home is sold on “As Is Where Is” basis, with the right to inspect it before closing. No warranties are expressed or implied for: Range, Stove, Oven, Dish Water, AC units, Furnace, or any other appliances or devices in the house.
Answers to Common Questions about our Auction
Q: Will you really sell it for that low price?
A: We are hoping it will go higher, but if not, we’ll accept the best reasonable offer.
Q: Can I get inside early?
A: No. Because we have to keep the bidding fair for everyone, no one can come inside before Saturday, March 1st at 12:00pm.
Q: What’s the catch?
A: There’s no catch. We’ve decided to let the market decide what the house is worth, in the fastest, fairest way possible.
Q: Do I have to pay cash?
A: No, this is a regular sale, so you can get a loan to buy it. We’ll pay our Seller side customary closing costs, and the Buyer will pay theirs, just like a normal sale.
**Come see us at 141 Kentwood Springs on September 13th and 14th between 12pm – 5pm and we will answer any and all of your questions!** |