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"The Real Estate Auction Company"
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Welcome to Elite Auctions
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Welcome to Elite Auctions, your source for California real estate auctions. The following information explains how to bid at our auctions:
1. Call Elite Auctions @ 661-325-6500 then attend an open house to obtain a bidder's package. Call Elite Auctions if you have any questions...we are there to help you. The bidder's package includes a recent termite inspection report, lead based paint disclosure, water heater and smoke detector statement of compliance as well as a transfer disclosure statement signed by the seller. You will be guaranteed clear title if you are the successful bidder. A title insurance policy will be issued from a reputable Title Company at the close of escrow. |
2.Come to an open house to view the inside of the property. Feel free to bring a home inspector to check out anything you feel is necessary. The property will be sold in "as is" condition.
3. A specified amount (click on upcoming auctions link for details) is needed to participate as a bidder at an auction. Make sure to bring a cashier's check or certified check made out to Elite Auctions when you check in on the day of the auction. Allow plenty of time to get to your bank so you don't miss the auction. The auction will start promptly at the time advertised.
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4. When you check in you'll be given a card with a number on it. If you want to bid just raise your card. The auctioneers are very friendly and will help you, so don't be intimidated by the process.
5. A 10% buyer's premium will be added to the final bid to determine the price. For example, if the final bid was $100,000, $10,000(10%) will be added to determine the price the winning bidder paid for the property. In this case $110,000 (100,000 + 10,000).
6. You will have 30 days to close with the balance of the amount needed. If you don't close in this time frame, the upfront money could be non-refundable. It is advisable that if you need assistance from a lending institution to help fund the transaction, that they are efficient in providing the necessary money to close in the appropriate time frame.
It's that easy! Please call if you have any questions and make sure to inspect the property.
Sincerely,
Mike Grigg, AARE
Elite Auctions
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