Name EDMONTON CONDO AUCTION ENDS APRAIL 30th
Auctioneer Reid's Auction Canada Inc
Type Online-Only Auction
Date(s) 2/16/2017 - 4/30/2017
Internet Only
Preview Date/Time Feb 26, March 12 and March 25th from 10 am to 3 pm
Checkout Date/Time Possession is asap.
Location #119 2323 119 ST NW
Edmonton, AB  T6G4E2
Buyer Premium No Buyers Premium
Description
Selling by public auction a two bedroom condo in Edmonton. #119 2323 119 ST NW, Edmonton, Alberta T6G4E2. Starting bid well below MLS listing.
Title on any or all purchased items does not transfer to the buyer until al lfunds are recieved in full by Reid's Auction (Canada) Inc. All items are sold as is where is and lie at the purchases risk immediately. Buyer Notes The purpose of the Owner using an auction process is to more quickly identify a buyer who is willing and financially capable of purchasing the property at their highest bid price. " The Owner of the property has a right of refusal for any bid (above the reserve price) within 24 hours of the auction closing. This refusal will be provided to Reid's Auction (Canada) Inc., should it be invoked by the owner. Once the 24hr wait period has concluded the property will be considered a legal binding sale, sold 'as is' by auction, as per the Alberta Auctioneer's act. " The successful bidder (I.e. buyer with the highest bid above the reserve price) as accepted by the Owner is required to complete and return to the Owner the Comfree sales purchase contract documents within 3 business days of confirmation of sale. " Title on any or all purchased items listed in the Comfree sales purchase contract does not transfer to the buyer until they have completed the Comfree sales documents and associated legal processes as required by Alberta Law. Therefore Reids Auction (Canada) Inc. is only acting as the legal auctioneer to identify the property buyer and the 'as is' purchase price through their on-line auction process. " The property is sold as is, where is, and as shown and the buyer should inspect the property before bidding. The FEBRUARY 26, MARCH 12 & 25 (10am - 3pm) show dates at the property are to allow the public to view the property and will be represented. Professional Inspections can be performed by appointment. A list of all chattels and confirmation of appliance functionality will be provided during the viewings. " This is a legal binding sale so all bidders should be pre-qualified to buy this property because once the item is sold the buyer must pay for the item in full. A credit card is required to register for the online auction and you may be asked to show your financial means to purchase the property so have this information ready. If a buyer is chosen as the winning bid he / she is responsible for the purchase price of the property and all fees associated with the purchase ie. legal fees. " If the (highest) bidder, as accepted by the owner, cannot legally complete the purchase process with Comfree, the Owner has the right to award the sale to the next highest bid and Reids Auction (Canada) Inc shall take the necessary legal steps to recover any shortfall that may occur on behalf of the owner.
Your bid must adhere to the bid increment schedule.
Bid Amount Bid Increment
0.00 - 95.00 5.00 CDN
95.01 - 975.00 25.00 CDN
975.01 - 9,750.00 250.00 CDN
9,750.01 - 97,500.00 2,500.00 CDN
97,500.01 - 9,999,999.99 5,000.00 CDN
Currency CDN
Buyer Premium No Buyers Premium
Payment Terms
Legal Sale and a $10,0000.00 deposit is required immediately. IF the sale does fall apart the buyer loses his/her deposit.
Legal Paperwork will be done and possession will be ASAP.