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Buying Real Estate at a
Richard E. Troup, Ltd. Auction |
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| Eliminate Long Negotiation Periods You find out the day of the auction if you are the buyer of the property or not. There is no haggling over terms and condition as these are known up front. There is no endless string of offers and counter offers that leave you in limbo. Reduced Time to Purchase Property As above, you will find out the day of the auction if you are the buyer of the property. This allows you to move forward either with the purchase contract for the current property or to move on in looking at other properties. Motivated Sellers There is no game playing by a seller, they are there to sell, not test the market. If the bid price is above the minimum bid set by the seller, the property will sell that day. The seller has bound themselves to the deal. There will be no counter offers or contingencies not known ahead of time. Financing Needs to be Pre-Arranged Contracts for property offered at auction are cash contracts that need to close within 30 days of the auction. Therefore, you, as the buyer, need to have your financing source locked in. Deposit on Day of Auction A non-refundable deposit will be collected from the successful bidder on the day of auction. The amount of the deposit is advertised prior to the auction. The best way to present this money is in the form of a cashiers check, made out payable to you. If you are the successful bidder, you endorse the check over to us, if you are not the successful bidder, you simply re-deposit the money into your account. |
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Richard E. Troup, Ltd.
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Auctioneer: Robert R. Troup
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 Equal Housing Opportunity |
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