BUYER INFORMATION REGARDING THE AUCTION SALE PROCESS

BUYER INFORMATION

	BUYER REGISTRATION
	Each prospective bidder must be pre-qualified to be eligible to bid on Trophyauctions.coun sellers online auction property Once Trophyauctions.com has proof of pre- qualification verification you will be issued a Password and ID #.

	REQUIRED BUYER FORMS
	Signed Terms & Conditions of the Online Auction Sale Trophyauctions.com Registration Form, Complete the Buyer Opening High Bid Form Buyer Profile if you want to be in Trophyauctions.com matching data base (Optional)

BUYER NOTIFICATION

Each seller’s property will specify whether it is a Conventional Sale, Broker Seller Online auction, Online Auction or a Seller Combination Online/OnSite Auction. Sellers auction listing will designate type of auction method; i.e. Absolute, Minimum or Reserve Auction Each Seller listing will have a designed beginning and ending time frame. Seller on-line auctions will designate the bidding increment to raise your bid.

	AUCTION SALES CONTRACT
	The successful high bidder must sign the Auction Sales Contract within 24 hours of seller acceptance.

	BUYER’S DEPOSIT
	Successful high bidder will be required to tenure a 10% DEPOSIT of the Total Auction Sales Contract Price within 3 business days of the dated seller acceptance. The DEPOSIT shall be made payable to the Company listed on the Auction Sales Contract. A certified or bank check is required.

	SELLER PROPERTY INSPECTION
	Each Sellers Property will designate OPEN HOUSE DATES. Each prospective buyer assumes the risk associated with the property inspection. All prospects are encouraged to inspect the property thoroughly prior to entering an auction bid. No sales will be contingent upon physical inspection after the Bidding begins.

	SELLER TITLE CONVEYANCE
	Each seller will convey clear and marketable title through a mandatory Owner’s Title Insurance Policy. All standard closing peroration by both Buyer and Seller are in full effect. All property transactions will close 30 days from the date of seller acceptance of the auction sales contract execution.

	FINANCING
	No online auction seller’s property is contingent on Buyer obtaining financing is,

	BUYER’S BIDDING WITH A BUYER BROKER
	Register with a Buyer Broker you must complete the Buyer Broker Registration Form. Download and fax back to Trophyauctions.com Buyers may bid on multiple properties if you qualify, if you have been pre-qualified within the last 90 days by Trophyauctions.com

	BUYER SPECIFIC NOTIFICATION
	Federal law strictly prohibits sellers from placing bids on their own properties in order to alter or artificially increase the price of their property. It is a violation of Federal law to make bids in a false name or an invalid user ID number even though Trophyauctions.com computer system initially accepts bids.

	SETTLEMENT PROCEDURES
	All escrow shall close no later than thirty days (30) from the seller dated acceptance of the high bid price. The successful high bidder must sign the Online Auction Sale Contract and pertinent documents related to the sale within 24 hours of the acceptance.

GOOD LUCK TO ALL BUYER/BIDDERS