TERMS AND CONDITIONS
“ON LINE” BIDDING FOR REAL ESTATE
Described as 2404 Circle Drive S.E., Decatur, AL 35603
The purpose for this bidding is to attain an OPENING BID for the live auction to be held on May 23, 2020 @ 10:01 AM.
Online bidding on this property will continue until May 21 at 8:00 pm.
There is no reserve price on this property; however, the Probate Court of Morgan County Alabama shall be given the opportunity to approve the winning price. Closing may be delayed up to ten days in order to obtain this approval. After approval the winning bidder will have 30 days to close the transaction.
Please watch the bidding and bid in required increments.
The highest bid at the close of this “on line” auction will be used as the starting bid on May 23.
In the event that the highest bid placed “on line” is not increased at the live auction then the maker of that bid shall be declared as the winner of the auction.
When bidding is stopped on this online auction we will require the highest bidder to make a “good faith” deposit equal to 10% of the Total Possible Purchase Price (TPPP). This deposit will be held in escrow until the live auction is completed.
The TPPP is the high bid offered plus a buyer’s premium equal to 10% of that bid. This deposit will be refunded should the bidder NOT win the ultimate highest bid at the live auction.
The highest bidder at the “live auction” on May 23, 2020, will be declared the winner of this sale.
The highest bid plus a buyer’s premium equal to 10% of that amount shall be the Total Contract Price (TCP).
The winning bidder will be required to make a NON-REFUNDABLE deposit equal to 10% of the TCP on sale day May 23, 2020.
Deposits may be made with cash, good check with I.D. or on credit/debit card.
KDC PROPERTIES, INC.
P.O. Box 25 Somerville, AL 35670
J. Wesley Cain, AL#286, TN#6499, Firm#5632
“We sell the earth and everything on it!”
On line bidding: kdcpropertiesinc.com click the “on line auction” heading in the red bar and follow instructions to Estatesales.org, register, and bid till your heart’s content.