Auction America Realty -- How to Register and Bid

Registration to Bid Online:

• A. Registration is the first step to be able to bid on a property. Registration is available several days before the auction. When registering you will be asked to complete the Bidder's Registration Agreement.
• B. You must provide a Pre-Approval Letter from your lender to have your registration approved to bid on an auction. You can email your pre-approval letter to auctionamericare@gmail.com; fax a copy to us at 516.632.5064 or mail it to us at the above address. Your pre-approval letter must be on bank letterhead. Please make sure that there is a contact name with phone number because each pre-approval will be checked. Once your pre-approval information is verified, your registration to bid will be approved and your bidding limit will be set.
• C. Earnest Money Deposit: Buyer is required to make an initial non-refundable deposit of $ 25,000 in the form of certified check. To provide your deposit you can pay online or mail a certified check to:
  

  Auction America Realty
  895 West Beech Street
  Long Beach, NY 11561
  

  Your earnest money deposit will be returned at your request, provided you are not the high bidder on any auction.
• D. Bidding Credit Limit: Your bidding credit limit will be automatically set to the limit on your pre-approval letter. Your bidding credit limit is good for the entire site not per property. Your bidding credit limit is hidden and no one will know what it is. Get approved for the maximum you can afford and bid with confident.

Registration to Bid Onsite:

• A. Bidder's Card MUST be signed at the registry on the day of the auction. Brokers must fill out and send the broker's registration form a day prior to the auction registering their clients.
• B. Buyer is required to make an initial deposit of $ 25,000 in the form of certified check. Deposit will be returned at your request, provided you are not the high bidder on any auction. Buyer is then unconditionally obligated to increase such initial now non-refundable deposit amount to an amount equal to ten (10%) percent of the purchase price within 3 business days of the auction date. If a potential buyer plans on using financing to close, then he or she should take all steps necessary prior to bidding, since auctions are never contingent on financing.
• C. Property may be inspected one hour prior to the auction. All visitors are to sign in and to register as proof that they inspected the property.
• D. Contract of Sale is executed immediately after the bidding. The highest bidder and the seller will enter in to a NY State legally binding contract of sale.
• E. Complete Contract of Sale.