Marcus Real Estate
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PROPERTIES UNDER $500

Lowest Cash Offer Under $500
For These Homes in the
Low Bid Home Auction

    

In the Low Bid Home Auction, Homes are Sold under $500 (Five Hundred Dollars) for Cash, Free and Clear of a Mortgage.

Here's How it Works...

 

You Can place an Initial Sealed Bid between One Penny and Five Hundred Dollars for either of these Homes in the initial entry form below. (A Place Holder Bid)

 

Once the Bid Reserve has been met (the Number of Bids Required in each Auction), the Validation Process Begins. You will receive an Electronic Notification sent to your email address with a Final Registration Link. This link will have The "Home Auction Service Pack" (outlined below), General Terms and Conditions, and a Place for you to Submit your Final Bid Amount before the Close of the Auction.

 

"The Home Auction Service Pack" includes, but is not limited to, the following:

 

Survey

Appraisal

Pest Inspection

Preliminary Title

Home Inspection

Seller's Disclosure
The Low Bid Home Auction Guide

 

There is a fee of $110 to validate your final bid once you have received and accepted the information contained within the Home Auction Service Pack. These fees collected pay for the cost of the Home and the Services provided.

 

Upon the close of the Auction the Bidder with the Lowest Bid Amount, unmatched by any other bidder in the Auction or "Unique" in Value, will Purchase the Home for that amount (Less than $500 Cash) Free and Clear of all Liens. (All successful bids in home auctions are "Unique in Value", only one person in any Auction leaves with the house). As an example if you place a bid for one dollar and another bidder does the same, one dollar is the lowest bid amount in the auction but no longer unique in value. Duplicate bids cancel out and similar to standard high bid auctions, bid values increase during the course of the auction.

 

The Lowest Unique Bid Becomes the Cash Sale Price of the Home (Under $500). You will have 48 hours to execute a contract for purchase for that amount, place your entire Cash Bid into escrow and 60 days to perform any and all additional inspections and close on the property. Possession is delivered upon Closing.

 

The Additional Costs Covered Within the Auction:

 

Title Insurance Policy to Buyer

Recording Fees to the Buyer

Home Warranty for the first year to the Buyer

Taxes and Insurance Paid for the First Year of Home Ownership to the Buyer

Pool Care, Lawn Care and Pest Control Contract for the First Year to the Buyer
$100,000 Cash upon Closing for any defects, repairs or deferred maintenance

 

REMEMBER DO NOT BID MORE THAN FIVE HUNDRED DOLLARS IN THIS HOME AUCTION. The additional cost of the home is covered in the service pack fees collected at the close of the auction.                     

 
                                        VIEW SAMPLE AUCTION RESULTS

PLACE YOUR SEALED BID NOW UNDER $500

 
 
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