CONTRACT
At the close of bidding, an appointment will be made with the highest bidder to complete a purchase agreement and a 3% earnest money deposit will be held in, escrow by Lawyers Title Insurance Corporation within 24 hours. Failure by the highest bidder to sign the purchase agreement within 24 hours will disqualify that bidder. If the high bidder is disqualified , the next highest bidder will be notified.
PURCHASE QUALIFICATION
Bidders must initiate financing on this home, if applicable, within three (3) days of contract acceptance. Proof of the bidder’s ability to pay the purchase price, and/or qualify for financing must be in the form of a written letter of qualification from a financial institution. Purchaser should plan on closing within 30 days of contract acceptance. Should the high bidder fail to show his or her ability to pay the purchase price or qualify financing within the specified Highest Bidder period or prove unable to close this sale within the specified date the seller reserve the right to terminate the sale process and offer the property to the next highest bidder under the same stipulations. The owners reserve the right to reject any or all bids and determine the sale process at any time without explanation to any potential buyer.
CLOSING COSTS
To be paid by Buyer with exception of this policy and tax pro typical in Multnomah county, Oregon.
INSPECTION REPORT & DISCLOSURE
Seller will provide a Property Condition Disclosure form for Buyer’s review. If a home inspection is desired Buyers shall contact a professional building inspector of their choice and complete an independent inspection at their own expense. The home will be sold as is. Where-as with no warranties expressed or implied.
REALTOR or BROKER FEES
The owners will not be responsible for any commission or fees due to a broker or real estate representing the buyer. If a broker or real estate agent elects to bid on behalf of his/her client all bids MUST BE NET TO SELLER, and his/her client will pay any fees, monies or commissions due to the broker or real estate separately.
SALE POSTPONEMENT
Owner reserves the right to postpone or cancel the sale if in his opinion an insufficient number of calls are not received by Friday evening or due to illness, foul weather or Act’s of God and war. In this event the sale may be cancelled or postponed to an alternative weekend. Notice will be given to all by posting it on this website (www.3304fsbo.wordpress.com). Any bid submitted by a buyer does not commit you or the contract legally. It is only a bid, not a legally binding contact.
