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If you are in the Atlanta Metro area and would like licensed auctioneer to act as your
buyer's agent at a real estate auction call Richard Weisser 770-827-6225 today!

Richard Weisser, Auctioneer


GAL #AU003489
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 How to Buy Real Estate at Auction!

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Real Estate Auction Buyer FAQ's:

Question: How much will it cost to buy a property at a real estate auction?
Answer: If you are the high bidder, you will normally pay the high bid price plus a  buyer's premium. The premium will be added to the bid price to determine the contract sales price.

Question: How much will I have to pay on the day of the real estate auction?
Answer: It depends on the terms and conditions of the auction. Read them carefully. (earnest money deposit) on the day of auction. If the sales price is $20,000 or less, you will have to put down the entire amount on the day of auction.

Question: Will I need certified funds?
Answer: Your day of auction deposit may be cash, personal check, or money order. You will need certified funds to close the transaction..

Question: How long do I have to close the transaction?
Answer: You have 30 days from the day of auction to close the transaction.

Question: How do I get my deposit back if I do not close the transaction for any reason?
Answer: You will not get your deposit back, it will be forfeited as liquidated damages.

Question: May I bid any amount?
Answer: Yes, however not all auctions are "absolute" auctions, some allow the seller to establish a reserve amount that will be accepted. However, even if the reserve amount is not met, there may be still be an opportunity to work out a deal.

Question: Do I need to be pre-approved for a loan?
Answer: Technically no, but if you cannot close within thirty days of sale you will forfeit your deposit.

Question: May I inspect the property after auction?
Answer: Technically yes, but if you cannot close within thirty days of sale you will forfeit your deposit. We recommend that you do all inspections, testing, research etc. before you make your bid. We will be happy to make the property available to you for all of your inspection needs!

Question: Why should I inspect the property before the auction?
Answer: You should inspect the property prior to auction to determine how much you are willing to pay for the property. We want you to be informed when you bid, we are trying to bring sellers and buyers together in a way that is convenient and beneficial to both!

Sale Date: October 20, 2007  Registration at 10:00 A.M. Auction at 11:00 A.M.

Down Payment: A 10% down payment will be required on the day of the auction. The balance of the purchase price shall be due on or before June 1, 2007. If the purchaser is unable to close on or before June 1, 2007 for any reason the down payment will become liquidated damages to seller and auction company, not as a penalty.

Sale Site: United Realty Group office, 2525 HWY. 34 E, Suite “A” Newnan GA 30263. 770-683-8400.  x364.

Funds: The 10% down payment may be in the form of a company or personal check drawn on an FDIC insured institution with offices located in the state of Georgia.

Closing Costs: The seller will pay for the deed preparation and the Georgia Transfer Tax. The real estate taxes will be pro-rated at closing. The purchaser will be responsible for title examination and closing attorney’s fees, including, but not limited to the title insurance, loan fees, title opinions etc. Marketable title will be  based upon existing deeds and descriptions.

Buyer’s Note: Information contained herein was obtained from sources deemed reliable. Although every precaution has been taken to insure accuracy, Auction Associates, sellers, sales managers and all agents will not be responsible for any errors or omissions herein. With the exception of marketable title, all properties are to be sold “as-is, where-is” with no warranties expressed or implied.

Buyer’s Premium: A 10% buyer’s premium will be added to the winning bid price to arrive at the total purchase price. Auctioneers are acting as agents of the seller, not as buyer’s agents. Announcements made at the auction take precedence over written matter. Buyers should carefully verify all items and make their own decision as to the accuracy thereof before relying on the same.

Agency: Auctioneer is agent of the seller. All sales are subject to seller confirmation. Terms and conditions may be changed at any time, up until the time of Auction. All properties subject to prior sale or withdrawal. All information is believed to be accurate but is not warranted.

Properly registered buyer’s agents present at auction, contract signing and closing shall be eligible for 20% of buyer’s premium to be paid at closing to agent’s broker.