When you are the successful high bidder, a 10% buyer’s fee will be added to your winning bid to determine the total purchase price. For example, a winning bid of $200,000 plus a 10% buyer’s fee of $20,000 results in a total purchase price of $220,000.
The total purchase price will be incorporated into a formal Offer to Purchase, which will be presented to the seller for acceptance, rejection, or counteroffer.
The successful bidder will be required to submit an earnest money deposit of $10,000 within 24 hours of the close of the auction and may be submitted by check, ACH, or wire transfer. The remaining balance is due in cash at closing, when ownership of the property is transferred. Closing to be within 50 days.
Please note that the sale is not contingent upon financing, inspections, or any other buyer contingencies. Prospective bidders are strongly encouraged to complete all desired inspections, conduct their due diligence, and secure financing prior to placing a bid.
If you are working with a licensed real estate agent, we welcome their participation. Please call 715-607-4411 for co-brokerage requirements and additional information.