NEXT SALE
To Be Announced
We Currently Have
No Sales Scheduled
Preview:
TBA
2:00 pm - 4:00 pm ONLY
You MUST attend the preview and submit an initial bid to participate in the round-robin process.
Vintage home in the heart of Vista
3 Br, 2 Ba, 1320 sq ft
Charm and character on a quarter acre in prized Alta Vista area.
This is a solid vintage home, all original except for the new furnace and newer water heater.
Beautiful wood floor under the carpet.
Very usable view lot with private enclosed back yard, room for RV parking and brand new new fencing.
This home needs connoisseurs who will appreciate its period charm and make it their home.
This is not an auction. Seller reserves the right to reject any and all offers on this property at any time at seller's sole discretion. Suggested minimum bid is not a firm offer to sell at that price. No offer is binding on seller or buyer until a fully executed sales contract has been negotiated.
Questions & Answers about Round Robin Bidding
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 sellers. We need to sell the 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 a multiple bid home. On Saturday & Sunday, there will be an open house from 1pm -3pm 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 7 PM, each bidder will receive a call informing them 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?
A: Come to the open house & visually inspect the home: interested? Fill in your name, phone number where we can reach you after 7 p.m. on Sunday night, and amount you'd like to bid on the bid sheet.
Q: What Are The Rules?
A: You need to visit and inspect the property during the open house. Complete the bid sheet so that you can be contacted Sunday evening. You will need to be available Sunday at 7 pm to participate in the Round Robin. You will need to be available to sign the contract by noon on Monday, 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.
No bid is binding on the buyer or the seller until a sales contract is executed.
The seller may decline any and all bids not acceptable to them.
Q: How much do I need for a deposit?
A: You will need a small deposit (usually $5000) on Monday afternoon - only if you are the winning bidder. Financing and pre-approval will be available for you the weekend of the open house, if needed.
Q: What happens to the deposit?
A: 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 price.
Q: Will there be any liens or encumbrances on the home?
A: No, you will receive a Deed and title insurance on the property. 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 Real Estate Purchase Agreement allow for any contingencies?
A: Yes, your offer can be made 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 any time what the current best bid is.
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 sellers. We need to sell the 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 a multiple bid home. On Saturday & Sunday, there will be an open house from 1pm -3pm 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 7 PM, each bidder will receive a call informing them 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?
A: Come to the open house & visually inspect the home: interested? Fill in your name, phone number where we can reach you after 7 p.m. on Sunday night, and amount you'd like to bid on the bid sheet.
Q: What Are The Rules?
A: You need to visit and inspect the property during the open house. Complete the bid sheet so that you can be contacted Sunday evening. You will need to be available Sunday at 7 pm to participate in the Round Robin. You will need to be available to sign the contract by noon on Monday, 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.
No bid is binding on the buyer or the seller until a sales contract is executed.
The seller may decline any and all bids not acceptable to them.
Q: How much do I need for a deposit?
A: You will need a small deposit (usually $5000) on Monday afternoon - only if you are the winning bidder. Financing and pre-approval will be available for you the weekend of the open house, if needed.
Q: What happens to the deposit?
A: 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 price.
Q: Will there be any liens or encumbrances on the home?
A: No, you will receive a Deed and title insurance on the property. 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 Real Estate Purchase Agreement allow for any contingencies?
A: Yes, your offer can be made 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 any time what the current best bid is.
THE FOLLOWING IS VERY IMPORTANT!
**********
You
MUST register your
name, telephone number where you can be reached after 7 p.m. on Sunday
evening, email address and initial bid amount at one of the Open House
Dates. Only registered bidders can be included in the Final
Round Robin Bid process and you MUST enter complete information ...
regardless of your bid amount, to 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
established bidding order.
The Round Robin Final Bid Process will begin at 7:00 PM 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 $5,000 increments (this may be lowered towards the end of the bidding). If there is more than one bid at a level, the earlier bid will be honored. T
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 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 two bids (sometimes 4) we will start to inquire as to your financing and any contingency terms (all cash, contingent on bank financing, approval letter, etc.).
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 on financing and taking longer to close or that is contingent on the sale of a house. Seller reserves the right to accept, reject or rescind any bids before the formal California Real Estate contract process. A Sale and Bid is not finalized until a California Residential Real Estate Contract is executed between Buyer and Seller and Earnest Deposit Funds have been submitted. We need to sell this home FAST so if you get pre-approved 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 or our office to execute a California CAR AS-IS Residential Real Estate Contract. Earnest money deposit in the amount of $5,000 will be due at this time. All offers are As-Is, with no known defects, and right to inspect. If you are working with a Realtor®, meet with them and fill out the required paperwork.
To get a detailed info packet on this home & 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 value, owned by EXTREMELY motivated sellers.
To Receive Your Free Information Package By Email Immediately -
please complete the information below.
The Round Robin Final Bid Process will begin at 7:00 PM 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 $5,000 increments (this may be lowered towards the end of the bidding). If there is more than one bid at a level, the earlier bid will be honored. T
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 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 two bids (sometimes 4) we will start to inquire as to your financing and any contingency terms (all cash, contingent on bank financing, approval letter, etc.).
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 on financing and taking longer to close or that is contingent on the sale of a house. Seller reserves the right to accept, reject or rescind any bids before the formal California Real Estate contract process. A Sale and Bid is not finalized until a California Residential Real Estate Contract is executed between Buyer and Seller and Earnest Deposit Funds have been submitted. We need to sell this home FAST so if you get pre-approved 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 or our office to execute a California CAR AS-IS Residential Real Estate Contract. Earnest money deposit in the amount of $5,000 will be due at this time. All offers are As-Is, with no known defects, and right to inspect. If you are working with a Realtor®, meet with them and fill out the required paperwork.
To get a detailed info packet on this home & 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 value, owned by EXTREMELY motivated sellers.
To Receive Your Free Information Package By Email Immediately -
please complete the information below.
Attention Realtors®
Commission:
Feel confident, your commission is protected. You can bring or send your buyers. Just call us with their names, or have them sign in with your name as "how did you hear about us". When your buyer is the successful bidder, meet with them the next day and write up your regular CAR As-Is forms. Your commission is paid same as any transaction.
Feel confident, your commission is protected. You can bring or send your buyers. Just call us with their names, or have them sign in with your name as "how did you hear about us". When your buyer is the successful bidder, meet with them the next day and write up your regular CAR As-Is forms. Your commission is paid same as any transaction.
HELP WANTED! Looking for motivated Realtors® who are interested in working with lots of home buyers. Successful real estate team with an overflow of serious prospects, seeks professional, full-time agents who want to work reasonable hours, make more money and have a fulfilling life. Please call for info!
Morningstar
Realty®, PO Box 2256, Vista, California 92085. ph: 760-536-8399. CAL BRE license # 1851611
Copyright © 2014 Morningstar Brokerage Inc.
Copyright © 2014 Morningstar Brokerage Inc.
