Information Home for Auction



Home for Auction

The following home: 6521 Bywood Road will be offered for sale via closed bid auction on the following dates: July 12 & 13, 2008. Starting bid will be $189,900!

Chris M. Crosby, Realtor

Keller Williams Advantage Realty

Oviedo, FL

321.695.3787

chriscrosby@



***Realtors Welcome***

______________________________________________________________________________

How does the auction work?

The auction is a closed bid auction. That means you will be required to submit your bid in a private manner. (*See Bid Requirements) Other bidders will not know what you have bid, and you will not know what they have bid. If you are the winning bidder you will be contacted immediately to move forward with purchasing the home. *See home purchase details below

Home Will Be Available For Viewing from 1:00 – 3:30 pm on July 12 & 13th, 2008.

*All Bids must be submitted no later than 3:30 pm on July 13th in a sealed envelope.

What if I have a real estate agent?

The sellers of the property have agreed to work with real estate agents. You simply need to provide the name and contact information of your agent at the time of placing your bid. If your agent has questions please refer them to the above MLS # and they can look up information that is relevant to them as a realtor. If you would like to make your bid/offer via a real estate contract please ask your agent to use the latest Far/Bar contract.

What are the requirements for bidding?

There are a few minimum requirements that you must meet in conjunction with placing your bid.

1. You must completely fill out the registration form and provide all information requested.

2. You will need to provide a pre-approval letter from a reputable mortgage lender stating that you qualify to purchase a home.

For quick pre-approval please contact:

Ryan Aceto, Fidelity Funding

407-221-5065 or

3. Sign the bid form and submit.

Purchasing the Home

You will be given a registration form, bid form, and envelope in an auction packet. The registration form asks you to provide your contact information and asks some questions about your financing. The bid form is your method for submitting an offer on the home.

The winning bid will be agreed upon on a standard FAR/BAR contract which is used in the state of Florida. All parties’ buyers and sellers will sign and enter into a residential sales contract.

You will have 7 days to have the home inspected. 5 Days to make a formal loan application with your lender of choice. You will have 30 days to secure financing, including having the home appraised.

You may be wondering, “Why would someone use an auction to sell their home?”

There are many benefits and reasons to use an auction. Here are a few:

Reason #1 – A home auction is quick, to the point, and can bring a fair sales price to the seller and buyer.

Reason #2 - In a buyer’s market, a seller may spend countless hours cleaning and preparing for showing after showing before they receive an acceptable offer. An auction style sale limits the time and emotional roller coaster a seller may ride waiting on the right buyer.

Reason #3 – Offering a home for auction gives the seller a true picture of what the market will bear for their home. A home should reasonably sell for what it’s worth. If no one is willing to pay your asking price, then your home is not worth the asking price.

Reason #4 – An auction sale is very similar to selling through the normal MLS. The major difference is that homes on the MLS are listed high and you negotiate down. A home for auction starts with a minimum bid and goes up.

**Please Print**

Name: ___________________________________ Email: ______________________________

Address: _________________________________ City: ____________________ Zip: ________

Phone #: __________________________ Cell #: _____________________________________

*Your contact information will not be given or sold to any third parties.

Please answer the following:

When are you looking to purchase a home? (Circle one) 30 – 45 Days / 60 – 90 Days / 6 – 9 Months

Have you been pre-approved to purchase a home? Yes / No

If yes, please provide your lender’s information:

Lender Name: _____________________________________

Company: ________________________________________

Phone: ___________________________________________

Email: ___________________________________________

Do you currently have pre-approval letter to purchase a home? Yes / No

Do you have a real estate agent that you are working with? Yes / No

If yes, please provide their contact information:

Name: ___________________________________________

Company: ________________________________________

Phone: ___________________________________________

Email: ___________________________________________

***Please bring your agent or their business card with you to the auction.***

**Please Print**

Name: ___________________________________ Email: ______________________________

Address: _________________________________ City: ____________________ Zip: ________

Phone #: __________________________ Cell #: _____________________________________

*Your contact information will not be given or sold to any third parties.

Check List for Submitting Your Bid:

___ Completed Registration Form

___ Pre-approved for financing (please include pre-approval letter)

___ Bid Amount

___ Closing Date

___ Submit Your Bid (Please seal in envelope)

Bid

I _________________________ understand that my bid is NOT a binding contract for sale.

Name

Neither party is contractually obligated to perform any acts towards the sale of said property until a legal contract has been executed. All terms for the sale of this property will be finalized and agreed upon on a standardized real estate contract provided by the Florida Association of Realtors and the Florida Bar Association.

I understand that this home is for sale “As Is.” I will have 7 days to inspect the property should I agree to purchase the home and 5 days to make a formal loan application with the lender of my choice.

I would like to offer the seller of _____________ $_______________ for the sale of their home.

I would like to close this transaction on or before _______________ (Please enter date).

_______________ _________________________________________________________________________________

Date Signature

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***Registration Form***

Orlando Home Auctions

***Bidding Form***

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