Auction Terms


Guaranteed Owner Financing terms are 20% earnest money (down payment), balance amortized for 20 years at 6% note rate, 23 payments of principal, interest, with a balloon on the 24th month.


As a bidder you should know - An auction fee (buyer's premium) of 10% will be added to the highest bid to establish the final contract price. A 10% down payment (earnest money) or $15,000.00, per property, whichever is greater, is required from winning bidder when the hammer falls and the auctioneer says, "sold". $15,000.00, per property, of the down payment, (earnest money) must be in the form of a cashier's check, cash, or personal / business check with a bank letter of guarantee. Down payment (earnest money) is non-refundable if purchaser fails to close. The balance of the purchase price is due at closing within 30 days. All closing and survey costs are to be paid by the purchaser. The successful high bidder and purchaser will sign a real estate purchase agreement at the auction. In all transactions, the auctioneers of Granger, Thagard & Associates, Inc. are acting as agents (working for) of the Seller. Announcements from the auction stand take precedence over all previous oral statements and printed material. PROPERTY SELLS"AS IS - WHERE IS.

Call our office at 205-326-0833
for additional assistance.