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Denver Luxury Condo Auction Information |
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Auction Definitions >> Auction Methodology >> Auction Registration >>
Bidding Information & Method These Luxury Denver Condos will be:
1. Open for Inspection 3/7/2009 and 3/8/2009 10:00 AM - 4:00 PM MST
2. Scheduled To Be Auctioned to the Best Bidder 3/8/2009 6:00 PM MST
3. Single Units Open For Bidding Starting at $139,500 USD
Property Address:
1738 Franklin Street, Units 1a, 2b, 2e, 3d
Denver, CO 80218Auction Bidding Method:• Initial bids can be left in any amount but must be made or verified in person by 4:00 PM Sunday.
• Initial bids can be changed until 6:00 PM Sunday.
• The bidding will be open. We will tell anyone the status of the bids at any time.
• Final telephone round-robin bidding will begin at 7 PM Sunday. The best bidder will receive the first call to let him/her know that the bidding has begun. The next highest bidder will then be called and given the opportunity to top the high bid, and so on down the list.
• Every bidder will have the opportunity to top the high bid until the highest bidder is established.
• If there is more than one bid at the same level, the earliest bid will be honored.
• Bids must be at least $1,000 apart. ($550,000…$551,000…$552,000…Etc.)
• When the final bidding has completed, the highest bidder will have 24 hours to arrange financing or demonstrate that financing will be available within a satisfactory time. Otherwise, the second highest bidder will be given the opportunity to purchase the home.
• As with any real estate transaction, there is no legal obligation to purchase or sell until a contract is executed.
Other Denver Real Estate Auction Related Links: Auction Definitions >> Auction Methodology >> Auction Registration >>
Real Estate Auction Definitions:
"International Bidder:”
Any bidder domiciled outside of United States including Alaska & Hawaii
“Out-of-State Bidder:”
Any bidder domiciled outside of Colorado, USA
“Best Bid:”
That bid determined by the seller to be most qualified given price considerations including seller’s perception of a given bidders ability and willingness to close the transaction in a timely manner with good funds
“Formal Notice of Auction Award:"
Barrett Associates, Inc., may notify the “Best Bidder” by phone, facsimile, email, and/or registered mail. All such forms of notification will constitute legal “Formal Notice of Award”
“Best Bid Award Price:”
That “Best Bid” price that through the “round-robin” bidding process the seller’s award the auction subject property to
“Buyer’s Premium:”
A premium or fee will NOT be charged to the buyer by the auctioneering firm (Barrett Associates, Inc.)
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Condo Auction Details 
