May Commercial Sales Drop 75 Percent
Sales Drop 50% Despite Builders’ Best Efforts
January Home Sales
Real Estate Auctions Thrive
2007 New Home Sales
Schnuck's pay $3M for property
Company to auction 100 foreclosed Memphis homes
Auctions gather steam as first option for home sellers
NAR Report: New-home sales recovery unlikely before 2009
Message is Clear: Buy Houses Now (from The Daily News)
New Kid on Block
Auction industry experiences extensive growth for 2006
Charity Auction Raises $83,000
Terms & Conditions
No Contingencies
All of our auction properties are sold in “as is, where is” condition. No purchase shall be contingent on financing or any other contingencies. Potential buyers are given ample time to inspect properties prior to auction. Terms and conditions are preset and non-negotiable.
Pre-Qualified Buyers
In order to bid, potential buyers must present proof of being able to pay the non-refundable Bid Deposit. Bid Deposits will be accepted in the form of cash, checks with bank letter of guarantee, or certified funds. The amount of the Bid Deposit is usually for five to ten percent of the anticipated sales price. Each property has the amount of this check on the property page and in the brochure. The high bidder will pay the Bid Deposit upon signing the sales contract when the auction concludes.
Buyer's Premium:
A buyer's premium of ten percent (10%) will be added to the high bid to determine the total price to be paid.
Closing:
The entire purchase price must be paid by Cashier's or Certified Check, or wired funds at closing. The closing shall take place not later than thirty (30) days after the auction.
Broker Participation:
All licensed real estate brokers are encouraged to participate by bringing your buyers to the auction. A commission will be paid to the licensed and qualified broker whose properly registered buyer is the successful bidder at the auction, and whose buyer purchases the property. Brokers must register their prospective buyer on the required Broker Participation Form (completely filled out, signed and notarized). The form may be obtained by calling 901-634-1799. This form must be submitted to Morris Auction Group no later than 24 hours prior to the Auction.
Disclaimer:
Announcements made at the auction supersede all printed material. All information included herein was derived from sources believed to be correct, but is not guaranteed.