Bidding Rules

No Prequalification Necessary. All Bidders Welcome!

However, you may choose to be pre-qualified by our recommended lenders in the home during the showing periods.

This is not a HUD auction, IRS auction, “repo” auction, or foreclosure auction.

This is a “For Sale by Owner,” Sale.

(See “Terms of Sale” for clarification of qualification rules.)

1.  Only buyers (or their agents) who have seen the home during the Open House on January 17 & 18, 2009, may enter bidding.

2. If you wish to be included in the bidding process, then provide the following before 3:30pm on Sunday evening, January 18, 2009:

·Your name

·Sunday evening telephone number

·Preliminary bid.

3. The round-robin bidding will start at 5pm on Sunday afternoon.

4. All preliminary bids must be multiples of $1000 Bids can be phoned in anytime before 3:30pm

5. No one can enter the bidding after 3:30pm on Sunday January 18, 2009.

6. The bidding will be open. We will tell anyone the status of the bids at any time.

7. Every bidder will have the opportunity to top the current bid until highest & best bidder is established. Owner shall have sole and absolute discretion to determine highest and best bid.

8. When the round-robin bidding opens we will telephone the highest bidder first. We'll call the next highest bidder in line, and so on down the list until all bidders have been called.

We will conduct several rounds in this manner until there is only one bidder left.

1. Each time you receive a call you have three options:

·Raise the current high bid higher in minimum multiples of $1000 or more.

·Stay at your current bid.

·Retire from the bidding process.

2. We will offer the home to the highest/best bidder at his or her highest bid price.

3. If the highest/best bidder does not meet the conditions of the terms-of-sale or fails to provide credible ability to purchase the home – the home will immediately be offered to the next highest/best bidder at his or her final bid price.

Important Note

1.For your protection: The bids are not legally binding contracts and can be withdrawn at anytime.

2.For the owner’s protection: The owners in their sole and absolute discretion have the right to reject for no reason or any reason whatsoever, any bid at any time prior to the execution of a contract (in a form acceptable to the owner) by and between the successful bidder and owner.

This is a sale with a Minimum Undisclosed Reserve.

Back-up purchase agreements will be taken.