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FOR SUPPLEMENTAL INFORMATION CALL 1-800-845-3524
Auction Day Registration: Those who register on
Auction Day will be required to complete the Auction
Registration Form and provide evidence of Certified
Funds in the amount of $2,500 for each property you
wish to purchase. Auction Day registrants should plan
to arrive at least thirty minutes prior to the Auction in
order to complete the registration process.
Bidding on each property will take approximately
two minutes. The properties will not necessarily be
auctioned in the order they appear in the Catalog. The
order of the bidding will be announced prior to the
Auction. As the successful bidder, you will sign a Bid
Confirmation Sheet immediately upon acceptance of
your high bid. An Auction escort will then usher you
to the Contract Area, where you will complete the
sales contract.
Writing the Sales Contract
In the Contract Area on Auction Day, you will sign the
sales contract and make an earnest money deposit of
ten percent (10%) of your bid price, but in no event
less than the amount of your Certified Funds for each
property you purchase. Your Certified Funds will be
deposited as a portion of your earnest money deposit.
The balance of the earnest money deposit may be
by personal, or company, check. In addition to the
Purchase and Sale Agreement, you will be required to
sign a Buyer Acknowledgement Form verifying that
you have inspected the property and are purchasing it
in its “as is” condition. No allowances will be made for
contingencies. Sample copies of contract documents
are available in each Supplemental Information
Package. The sales contract is a binding contract.
SEALED BID AUCTION
All Sealed Bids must be accompanied by Certified
Funds for ten percent (10%) of the bid price as an ear-
nest money deposit. Within three (3) business days of
acceptance of a bid, earnest money deposit must be in-
creased to ten percent (10%) of the accepted bid price.
Checks should be made payable to the Realty Market-
ing/Northwest Client Trust Account. Due diligence
should be completed prior to bid submissions. Bidders
will be notified of acceptance or rejection of bids no
later than five business days after the bid submission
deadline. Escrows will close within 30-45 days of the
date of the bid acceptance.
FINANCING
Several Sellers offer financing subject to approval of
Buyers’ credit. See individual property descriptions
for details.
COOPERATING BROKERS
Broker cooperation is invited. A commission ranging
from 1% to 2% will be paid to the real estate agent
whose Buyer closes on the purchase of any Auction
Property. The real estate agent must be a broker
currently licensed by his/her state of residence or a
salesperson licensed under such broker. Cooperating
broker commissions will be paid upon close of escrow.
Cooperating brokers will not share in any payment of
liquidated damages.
Buyers must register their real estate agent on the
Auction Registration Form or on the Sealed Bid Form.
For the Oral Auction, the Registration Form should
be received by the Auction Information Office at
least three days prior to the Auction. No Auction Day
Registration of real estate agents will be accepted.
For the Oral Auction, registered real estate agents
must attend the Auction with their Buyer and must
accompany their Buyer into the contract area if their
Buyer is the successful high bidder.
No real estate agent will be recognized for a Buyer
where that Buyer has previously contacted, or
been contacted by, the Seller, or Realty Marketing/
Northwest, concerning the Auction Property
purchased. No commission will be paid to any real
estate agent participating as a principal in the purchase
of the property. The commission will be earned and
paid upon the full and final closing by the Buyer on
the conveyance of the property and the receipt of the
full purchase price by Seller. No exceptions to this
procedure will be made and no oral registrations will
be accepted.
CLOSING AND COSTS
All sales must close within 30 to 45 days of the
Auction, unless extended by the Seller, in writing.
Prior to making a bid, refer to the Supplemental
Information Package with regard to customary closing
costs including, but not limited to, recording fees,
normal prorations, title fees, transfer and/or excise
taxes (if applicable), sales tax on personal property (if
applicable), local improvements and irrigation district
assessments (if applicable), and document preparation
fees. Buyers will be responsible for any real estate
compensation taxes or rollback taxes and penalties
as a result of a change in use or designation of the
property including, but not limited to, a change from
open space, agriculture, forest land or recreation.
