Multi Parcel Real Estate Auction!
1st TIME ON THE MARKET AT AUCTION !
SATURDAY, NOVEMBER 8 at 11:00 AM
Preview starts at 10:00 AM
For the Estate of Virginia Preston
Multi Parcel Auction Procedure:
Parcels 1 – 6 will be offered on an individual basis, once.
Parcels 1 – 6
First Round:
Parcels 1 – 6 will be auctioned singularly and the high bids and bidder numbers will be recorded. This is the ONLY time that these parcels will be offered on an individual basis. Obviously, the higher the parcels are singularly, the less likely the parcels will sell in combination. A good point to remember! At the end of this round, we will take a minute so the high bidders can decide whether they would like to raise their bids or not, to keep them from selling in combination.
Combination Rounds: 1&2, 4&5, 1&5, 3&4, 5&6
Parcels 1&2 will be offered in combination by taking the high bids of each parcel at the end of Round 1, adding the two prices together, and then adding $2,000 to the total, and at that price, the bidding may open. If the bidding opens, it may continue from there. If the bidding does not open, the high bidders on the individual parcels will still be in control. If the bidding opens when offered in combination, the highest combination bidder will be in control. Then, 4&5, 1&5, 3&4, and 5&6 will be offered the same way. The buyers will also be offered a chance to make their own combination of parcels, before proceeding to the next, entirety, round (by adding the current auction bids of the combination together and then adding $2,000 to the total, and at that price, the bidding may open). The auctioneers will then ask if anyone would like to put any other two parcels together. Then, the auctioneers will ask if anyone wants to put any three parcels together. The auctioneers will ask if anyone wants to put any four parcels together. Then, the auctioneers will ask if anyone wants to put any five parcels together. This is the ONLY time these parcels will be offered in combination. Obviously, the higher they are in combination, the less chance of the parcels selling in their entirety. A good point to remember! At the end of this round, we will take a minute so the high bidders may decide whether they want to raise their bids, to keep them from selling in their entirety.
Entirety Round:
At this point, the parcels will be offered in their entirety, by taking the high bids of each round, adding them together, and then adding $5,000 to the total. At that price, the bidding may open. If the bidding opens, it may continue from there and the last bidder will be in control and be able to purchase the parcels in their entirety. If the bidding does not open, the high bidders from the previous round will be in control and they will get the properties at auction.