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CONTRACT: A meeting will be held with the selected buyer to execute the purchase agreement and accept an earnest money deposit, which will be held in the escrow account. The purchase agreement will be in the form of a real estate sales contract currently used by California Association of Realtors and such contract shall govern all rights, duties and obligations of the parties. Terms of the contract shall supercede any terms to the contrary contained herein. Failure by the initial successful bidder to sign the purchase agreement and deposit the earnest money by the end of the meeting will disqualify that bidder. If the highest bidder is disqualified, the next bidder will be notified immediately.
PURCHASER QUALIFICATION: Bidders must initiate financing on this home, if applicable, within 24 hours of contract. 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. Purchaser should plan on conducting the closing within 30 days of accepted offer.
Should the highest bidder fail to show his or her ability to pay the purchase price, or meet the required financing proof within the a 3 day period, or prove unable to close this sale within the specified period, the seller reserves the right to terminate the sale process and offer the property to the next highest bidder under the same stipulations. Until a contract is signed, the owners reserve the right to reject any or all bids and terminate the sale process at any time without explanation to any potential buyer.
CLOSING COSTS: All closing cost is at buyer's expense unless otherwise specified. Seller is responsible only for payment of state and local conveyance taxes and preparation recording of the deed. Taxes for current year shall be prorated. The parties will follow the standard expense allocations as provided in the real estate contract.
REALTOR OR BROKER FEES: Buyer may be represented by a Realtor but, All bids ARE NET TO SELLER. Furthermore, if an agent/broker is bidding on behalf of his/her client a Certified POWER OF ATTY., must be presented to the seller at the time the bid is entered.
SALES POSTPONEMENT/CANCELLATION: Owner, in its sole and absolute discretion, hereby reserves the right to postpone, cancel the sale for any reason or no reason whatsoever, including without limitation due to illness, foul weather or force majeure. In any event the sale may be cancelled altogether or postponed to an alternative weekend. Notice will be given to all...so we encourage you to call leaving your name and phone number specifically for this purpose.
This is a sale with a Minimum
Undisclosed Reserve. |
