Terms: At the close of the auction, successful bidders will be emailed a contract to be executed and returned to Kaufman Realty & Auctions. Successful bidders will deposit 10% of the purchase price in the form of cashier′s check or wire transfer with Kaufman Realty & Auctions, Inc. The entirety of the remaining balance is due at closing. Instructions for wire transfer and /or cashier′s check transmittal will be sent by e-mail to the successful bidder. Purchaser shall be responsible for all wire transfer fees.
Contract Documents will be sent by e-mail to the successful bidder, who must execute and fax or email back to Kaufman auctions within 48 hours of the end of the auction.
Successful bidders not executing and returning their contract with earnest money deposit within 48 hours of the conclusion of the auction will be considered in default.
Buyer′s Premium Example:
Bid Price: $100,000
Plus 10% Buyer′s Premium: $10,000
Total Contract Price: $110,000
Closings: Time being of the essence, these sales shall be closed within 30 days after the ending date of the auction. The seller will pay for preparation of the deed of conveyance, and all ad valorem taxes up to the date of closing. HOA fees and condominium assessments, if any will be prorated up to the date of closing. The purchaser will pay all other closing costs associated with this sale.