How to bid

Follow these steps to ensure a smooth purchase at auction.

Preview the auction property if possible. Take advantage of any open houses that are offered. Often in foreclosure auctions, your opportunity to preview a property is limited, so do your homework. Most information is available through public records and online. The more time you invest in research the better prepared you'll be to bid wisely. Remember, the property will be sold in "as is" condition. 

Auction Deposit: Every auction has a specified dollar amount that is required in order to register to bid at auction.  Be sure to bring a cashier's check or certified check made out to your self.  Personal checks are not accepted. Cash deposits are usually permitted as well but check with the terms of the specific auction that you are interested in.  Allow ample time to get to your bank so you’re not late for the auction. In most cases we won't touch your deposit. You'll simply show it to us and it will go right back into your pocket. But we need for you to display clear evidence that you have a legitimate deposit check in the designated amount.

Once you register you'll be given a folder with a number on it.  If you want to bid, just raise your folder.  Our auctioneers are very friendly and want to help you, so don't be intimidated by the process.

Buyers Premium

A buyer's premium is a fee added to the final bid to determine the price.  The buyer's premium typically ranges from 5-10% For example, if the buyers premium is 5% and the final bid was $100,000, $5,000(5%) will be added to determine the price the winning bidder paid for the property.  In this case $105,000 (100,000 + 5,000).

You will typically have 30-45 days to close (check the terms for the specific auction) with the balance due at the end of that duration.  If you fail to close in this time frame, your deposit is non-refundable and therefore will be forfeited.  We strongly recommend that you line up definite financing before bidding.