At Jessant Realty Auctions, we are representatives of the Sellers. Notwithstanding this fact, we strive to communicate the auction process openly and honestly to interested parties. It is in your best interest, and the best interest of our clients to have you, the buyer, understand the auction process. This will enable you to be comfortable and confident in bidding, after you complete your evaluation of the property.
When bidding on a real estate at auction, all inspections including Lead Based Paint inspections and Mold inspections, are to be conducted by you or your representatives prior to the auction.
In addition, any funding arrangements you require should be set in place prior to the auction. Opportunity for inspection is generally provided for each Jessant Real Estate Auction, via two open house inspection dates, and by appointment. Buyers are completely responsible to conduct and pay for any and all inspections, evaluations, assessments, or appraisals that they or their representatives, deem appropriate.
Once your have completed any inspections you require, and set any necessary funding in place, you can bid with confidence based on your assessment of the value of the property.
Please NOTE: Properties sold at our real estate auctions are sold AS IS, in their present condition, no warranties expressed or implied are given, except those which may be given in regard to the deed, by the Seller. Agreements of sale are NOT subject to any mortgage contingencies and are considered cash settlements. Settlements are generally 30 or 45 days after the Auction.
Generally property is conveyed by a general or special warranty deed, free of any liens or encumbrances. (except in the case of foreclosures or other unique situations.) Please refer to the Terms & Conditions for each real estate auction for specific details of conveyance.
Property Information packets including a seller’s disclosure form, federally mandated information on lead based paint hazards, (for houses built prior to 1978) along with the Terms and Conditions are available for each Real Estate Auction. You can receive this information via fax, mail, email, in person at an inspection open house, or via download.
Terms and Conditions of the Sale: The amount of the non-refundable initial payment, closing date, and other pertinent information is found in the Terms and Conditions. The Terms and Conditions govern the sale. If there are any changes made to the Terms and Conditions by the Auctioneer on auction day, these take precedence over the written Terms and Conditions.
On auction day you should arrive at least 45 minutes prior to the auction. A Real Estate auction takes only a short time, so be sure to arrive in plenty of time to register and ask any questions you may have, regarding the property or bidding process. You are not required to bid to attend, however if you are planning on bidding, you will have to register. To register you will need; a government issued photo ID, such as a passport or driver's license and to verify sufficiency of funds to cover the initial payment. If using a personal or business check, verification is provided via a bank letter of guarantee. Alternately you can use a Certified Bank Check or Cash. Credit cards are not accepted. (All certified checks should be made out to yourself, so that if are not the winning bidder you can deposit it back into your account, if your bid is successful you can sign the check over to complete the transaction.)
Though we love to rattle off the trademark auctioneers chant, Real Estate Auctions are generally conducted with a “ talking chant” similar to a rare art auction. This insures each bidder clearly understands the current and asking bid. You don’t need to worry that you will not understand the bid, even if you have never attended an auction before.
