This is an old auction format currently used by thousands of companies across the world to sell electronics and other various goods. Very simply put, this auction format uses a "Required Number of Bids Placed" (15,000) as the reserve and the monies collected from the "Home Auction Service Fees" ($199) pay for the home and the services provided. Therefore, because the Home is paid in full, you can bid low...versus high and own this Home for pennies on the dollar FREE and CLEAR of a Mortgage.
Here is How it Works...
You Can Place a Single Sealed Bid in This Auction Here. Bids are placed in one-penny increments and the bid range is from one penny to five hundred dollars.
There is a Fee of $199 (One Hundred Ninety Nine Dollars) to Receive, Review and Accept the Home Auction Service Pack (See Below) for this Specific Home and General Terms and Conditions for this Specific Auction. Once Accepted You Will Be Redirected to Pay Pal's Secure Server to Remit Payment.
Upon Completion of the Registration and Validation (Payment) of ALL bidders, this Auction Will Close to The Public and All Bidders Will Be Notified of the Date and Time of the LIVE BROADCASTED AUCTION RESULTS.
The bidder that has placed the lowest bid in the auction that is unmatched or unique in value can purchase the home for that amount.
Please Explain: So if you place a bid for one penny and your neighbor does the same, the duplicate bids cancel each other out and the next lowest bid is actually higher...it is now two pennies...until more than one person bids that amount...similar to standard high bid auctions the duplicate bids will continue to cancel themselves out until the bid value in which ONLY ONE BIDDER placed is selected. Example $3.33
Once again, this becomes the contract sale price of the home, Three Dollars and Thirty-Three Cents as an example. The successful bidder will have 24-48 hours to place their bid amount into escrow and sign the contract for purchase, 30 days to complete any further inspections and close.
The monies collected pay for the home and the services provided. Upon completion of the property closing, the Home Auction will be Officially Closed. The Seller Will Then Grant The Jewish Federation of Sarasota-Manatee $1Million Dollars to Further Their Cause.
In Addition, the Successful Bidder Will receive the Unique Welcome Package Upon Closing. The Welcome Package is pre-paid closing costs, a new car + over a $100,000 of Pre-Purchased Programs, Products and Services from Local Businesses to be used to Stimulate the Economy and Explore Sarasota Florida.
The Benefit to this Genuine Auction Format. There is no additional tax applied at the closing. The new homeowner would be responsible to the IRS for capital gains “only when they sell the home and realize the gain”.
The Home Auction Service Pack Includes the Following:
1. Survey
2. Appraisal
3. Title Work
4. Pest Inspection
5. Expense Details
6. Home Inspection
7. Welcome Package
8. Seller's Disclosure
9. Contract for Purchase
10. General Terms and Conditions
SAMPLE LOW UNIQUE BID--Place a Low BID Now
SEE SAMPLE AUCTION RESULTS
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| Time | User Name | Cash Bid Amount $ | Unique ID |
| 4/19/2010 20:54 | Angel Mary | 0.01 | 33462215 |
| 4/19/2010 20:57 | Magdelina | 0.01 | 33462281 |
| 4/19/2010 21:06 | Raymond | 0.01 | 33462441 |
| 4/19/2010 21:40 | Lilly | 0.02 | 33463206 |
| 4/19/2010 21:59 | Adam | 0.02 | 33463824 |
| 4/20/2010 13:04 | Tiger1 | 0.03 | 33481105 |
| 4/20/2010 13:20 | Ace of base | 0.04 | 33481608 |
| 4/19/2010 20:55 | Frederick | 0.04 | 33462230 |
| 4/19/2010 21:00 | Roosevelt | 0.05 | 33462322 |
SEE SAMPLE AUCTION RESULTS
Listen to a Two Minute Audio Presentation
on How the Home Auction Works
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