Reserve Price: The property has a reserve price of $475,000 (minimum bid). Acknowledgment of Terms: All bidders must review and sign the Acknowledgement of Terms & Conditions document before bidding. Property Condition: The property is sold in 'AS IS' condition. The Seller will not make any repairs or concessions, and there are no contingencies. Inspections: The sale is not contingent upon a satisfactory inspection. Bidders are encouraged to inspect the property before the auction ends. Financing: The sale is not contingent upon the Bidder's ability to secure financing. The buyer is responsible for any appraisal gap. Post-Auction Procedures: After the auction closes, the successful Bidder must sign and return the purchase contract and any other required documents electronically within 24 hours. Deposit: The successful bidder must provide within 24 hours a $15,000 deposit (earnest money) via electronic transfer. Closing: The buyer must complete the purchase within 30 days of the auction. Seller's Obligations: The seller will cover the costs of the owner's title insurance, deed preparation, conveyance fee, and real estate tax proration. Buyer's Premium: A 10% Buyer's Premium will be added to the final bid to determine the final purchase price. For more details, please see the Frequently Asked Questions and Advantages of Competitive Bids.