Starting bid is only 52% of market value!
Recent comparable sales are around $350,000
3bed/2 bath home in established Fair Oaks neighborhood with 1,852 sq.ft., almost 1/4 acre.
Excellent location close to schools and parks.
Fully remodeled home with upgraded kitchen, bathrooms, flooring, front landscape, designer paint.
8872 Phoenix Ave
Fair Oaks, CA 95628
The most recent comparable sales will be provided at the open house
We will have an open house from
1pm to 5pm Saturday 8/10
1pm to 5pm Sunday 8/11
Get detailed info packet on this home and get FREE email notification of all of the properties we offer on round robin bidding. We sell several homes with bids starting at 52% of market, owned by EXTREMELY motivated sellers.
Q: Why is the home being sold by round robin
high bid process?
A: Because a bidding process
allows all buyers to come to the home within a short period of time so it
provides a fast, efficient, and convenient way to sell a home in a manner that
is fair to both the buyers and seller. We need to sell this home FAST, this is
the reason for the extremely low starting price.
Q: How does
the Round Robin Bidding work?
A: The Round
Robin Bidding Process is a buyer friendly approach that eliminates all the
usual risks associated with buying at auction. On Saturday and Sunday, there
will be an open house from 1pm to 5pm to visually inspect the property and sign
up to participate in the bidding as well as place an initial bid. The final
bidding is held by phone on Sunday evening. Starting at 6 pm each bidder will
receive a call informing him or her of the current bid and offering them the
opportunity to increase their bid in order to proceed to the next round. Rounds
will continue until only one highest bidder remains. Buyers will need to be
available by phone Sunday evening to receive multiple phone calls.
Q: How Do You Sign Up?
to the open house and visually inspect the home; interested, fill in your name,
phone number and bid on the bid sheet;
Q: What Are
A: You need to visit and inspect the property
during the open house. Complete the bid sheet so that you can be contacted on
Sunday evening. You will need to be available by phone on Sunday evening
beginning at 6 pm. You will need to available Sunday at 8 pm to sign the
contract if you are the winning bidder. If you are the highest bidder and you
cannot comply, and alternative arrangements are not made prior to Sunday night,
we may elect to call the next highest bidder and you may lose your chance to
buy the home.
· The seller may decline any and all
offers not acceptable to them.
Q: How Much Do I Need For A
A: You will need a small deposit
Sunday evening only if you are the winning bidder (usually $500). Financing
pre-approval will be available for you the day of the auction if needed.
Q: What happens to the deposit?
If you are the successful bidder, the deposit will be written in your
contract as “earnest money” or a “good faith deposit” applied to the purchase
Q: Will there be any liens or encumbrances on the home?
A: No, you will receive a Warranty Deed and we
will even purchase title insurance for you. Any mortgages or debts against the
property will be paid from the proceeds of the sale so that the home is
completely free and clear.
Q: Will the Purchase and Sale
agreement allow for any contingencies?
Your offer will be contingent on you getting financed for the home and
contingent on a satisfactory home inspection.
Q: Will we be able
to find out the current high bid?
A: Yes. We will
tell anyone at anytime what the current best bid is.
FOLLOWING IS VERY IMPORTANT!
You MUST register
your name, telephone number, email address and initial bid amount at one
of the Inspection/Open House Dates/Times. Only registered
bidders can be included in the Final Round Robin Bid process and you must enter
complete information… regardless of your bid amount, you will be able to
participate in the final bidding.
Making a Bid at the Open House
DOES NOT OBLIGATE you to buy the property…it only allows you to participate in
the private telephone bidding process and establishes bidding
The Round Robin Final Bid Process will begin at 6:00pm via
telephone. We will call all interested bidders who registered until there is
one high bid, and no other bidder wishes to top it. All bids must be in a
minimum of $500 increments. If there is more than one bid at a level, the
earlier bid will be honored.
The caller will say
“Currently there are "X" number of bidders in this round and the
current high bid is $________. Would you like to advance the
bid?” You can take this opportunity to advance the
bid (usually $500 increments) and be included in the next round or decline and
drop out from the bidding (again...there is no obligation). Once you drop
out we thank you for participating and you will not be called again.
Once down to the final 2 bidders (sometimes 4) we will start to
inquire as to your financing and any contingency terms (All Cash, contingent
upon bank financing, approval letter, contingent upon sale of your house,
Sale is for the Highest and "BEST" Bid/Offer. Example: an
"All Cash" offer closing in less time may take precedence over a "Higher" offer
contingent upon financing and taking longer to close or that's contingent upon
the sale of a house. Seller reserves the right to accept, reject or rescind any
and all offers tendered. A Sale is not finalized until a Standard Real Estate
Sales Contract is executed between Buyer and Seller and Earnest Deposit Funds
have been tendered to Title Company. We need to sell this home FAST so if you
get preapproved while at the home, you will get a great price on the home.
If you are the winning party we will make arrangements to
meet with you at the home to execute a "Standard State approved Real Estate
Purchase Agreement". Earnest Money Deposit in the amount of $500 will be
due at this time. Clear and marketable title will be conveyed by the
Provided by American Green Realty, DRE#01874232