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How FlatPrice.ca Real Estate Auction Works?
- Buyer will not be charged a Buyer’s Premium for this property
- If you are the winning bidder, an Earnest Money Deposit of $2,500 is required
- Buyer/Seller will sign agreement of purchase and sale with conditions that will be negotiated with FlatPrice.ca Real Estate Brokerage.
- If the deal does not go through the deposit will be returned to the Buyer minus a $250 administration fee.
- Until the seller’s reserve price is met, FlatPrice.ca Real Estate Brokerage may counter bid on behalf of the seller. Counter bidding gives buyers and sellers more flexibility to find a mutually agreeable price. Counter bids do not occur after the seller’s reserve price is met.
- to be eligible to bid on the property a bank draft or certified cheque for the sum of $10,000.00 made payable to Joseph Byrne in trust must be presented to Jack Morris Auctions before 2:00 pm on Sat. Oct. 13, 2018.
- for the successful bidder this $10,000.00 payment will be the down payment on the property. Cheques will be returned to unsuccessful bidders following the sale.
- purchaser agrees to pay the balance of the purchase price by Friday, November 16, 2018.
- in the event that the vendor is unable to deliver clear title, purchaser will be refunded down payment
- property selling in as is condition
- down payment forfeited if balance of payment is not made by above mentioned closing date or by written agreement of vendor
- parties shall enter into a valid standard form agreement of purchase and sale on the same terms & conditions contained herein by Friday, October 19, 2018, failing which they agree to be bound by the clauses in OREA standard form agreement
- property selling subject to owner approval