FREQUENTLY ASKED QUESTIONS

Q. Do you need any experience to bid at the auction?

1. No… bidding is simple. If you are a first timer, come to the auction, explore and ask questions. Our staff will be happy to assist you in anyway we can. And after a few items have been sold you will see how easy and fun the process is and be ready to make a bid for yourself.

Q. Do I need to register to bid at the auction?

1. Yes. It begins an hour and half before the start of the auction and continues throughout the day. Registration is free of charge and everyone is welcome.  You will have show $500 cash or cash equivalent and a picture ID.

Q. What kind of properties can you buy at this gigantic land auction?

1. There is something for everyone. We offer a wide variety of land parcels… from small city lots to large piece of acreage. And the best part is we offer very financing and low minimum bids so almost anyone can afford to own property. 

Q. Who owns the properties being sold at auction?

1. We own everything that we sell. We are not real estate brokers or agents.

Q. How do you acquire your properties?

1. We acquire properties from many different sources. Basically, we look for bargains, so that hopefully you buy a bargain.

Q. Are there any liens on the property?

1. No. We guarantee free and clear title on all properties we sell.

Q. Should I look at the property prior to bidding?

1. Yes. We have not seen some of the properties and it is your responsibility to make sure that a particular property suits your needs. You shouldn’t buy land without looking at it first. (See conditions of sale for details)

Q. If I buy something, do I need to pay the entire purchase price on auction day?
A.

1. No. We offer financing for any purchase over $ 5,000.
2. The down payment is 15% plus a 10% Buyers Premium of the purchase price and the documentary fee (See auction terms and conditions for details)
3. Bid and Assumes have separate terms

Q. Do I need to qualify for financing and how long does it take?

1. No, we finance anything over $ 5,000.  The Table Auction has its own built in financing.

Q. Can I buy as many properties as I want?

1. Yes, but we will only finance three purchases. All other purchases must be paid for in full on auction day.

Q. Do I pay any sales tax on my purchase?

1. The only taxes are State/County/City required transfer or excise tax. Usually this is minimal amount and is part of the documentary fee. You will also be responsible for any taxes being billed after the auction date regardless of the year, many states bill in the rears, ex: 2006 will be billed in 2007, usually billed in November due in January, if this bill comes after the auction date, you will be responsible.

Q. Is there any penalty for paying a loan off early?

1. No. There are no prepayment penalties. As a matter a fact, if you payoff your loan within the first 30 days you pay no interest at all.  Also you may obtain your own financing, you will still be required to pay the down payment and within the payment terms.

Q. When do I get a deed to my property?

1. You will receive your deed about 120 days after you payoff the property.

Q. What if there is a problem with the deed?

1. In the event that a typographical error exists in the legal description, Assessor's Parcel Number, or parcel size or any error, the Seller may correct the error and proceed with the recording or re-recording. If Seller can not obtain proper title the buyer will be issued a refund or offered an exchange with something of equal value, based on availability.

Q. What if I want more information on the property I bought?

1. All research was to be done prior to bidding. We have provided as much information as we have, we suggest you pull the plat or map of your parcel and contact the county assessor for further information.

Q. What if I buy a property and I find out that it’s not what I want?

1. All sales are final and there are no refunds. That’s why it's so important that you investigate before you buy. Remember, you get to choose the property and you set the price.

This FAQ page is for reference only and in the event of conflict, the Terms and Conditions of Sale shall prevail and control."