~ Central Florida Real Estate News ~

120± Bank-Owned Homes throughout the
State of Florida

SEPTEMBER 23, 2007 @ 1:00 P.M.

CALL FOR DETAILS: Bobby R. Keen (407) 699-2127

FREQUENTLY ASKED QUESTIONS

Q: CAN ANYONE ATTEND THE AUCTION?

A: Yes! The Auction is a live Auction open to the Public.

Q: WHAT IS REQUIRED TO BE REGISTERED AND ELIGIBLE TO BID?

A: In order to register and be an eligible bidder you must have a photo I.D and a cashier’s check or cash in the amount of $3,000 (per property you wish to purchase). Cashier’s checks should be made payable to yourself.

Q: HOW MUCH EARNEST MONEY IS REQUIRED FROM ME ON AUCTION DAY IF I WIN THE BID?

A: You would be required to escrow a total of five percent (5%) of the total purchase price OR $3,000 – whichever is greater with the Seller’s designated closing agent. We accept personal/business checks or cash for the difference between your $3,000 casher’s check/cash needed to register for the auction and the 5%. No credit cards, debit cards or credit checks will be accepted.

Q: HOW MUCH TIME WILL I HAVE TO PAY THE BALANCE AND CLOSE?

A: Within 30 days.

Q: IF I AM UNABLE TO ATTEND THE LIVE AUCTION CAN I STILL BUY A PROPERTY?

A: Yes. In order of preference (i) attending the live auction in person is most encouraged and best or (ii) you can submit a sealed bid on the proper forms with earnest money prior to the auction to be placed at the auction or (iii) you may attend one of the off-site telephone bidding locations identified in the auction information; however, technical difficulties may occur with off-site connections.

Q: ARE THERE ANY BACK TAXES OR LIENS AGAINST THE PROPERTY?

A: NO! At closing each property will be conveyed by special warranty deed and title insurance provided by the Seller. There will be NO back taxes or liens against the properties.

Q: ARE THERE ANY MINIMUM BIDS?

A: NO! The public will start the bidding and most properties will be sold subject to confirmation. However, many properties will be sold Absolute to the highest bidders regardless of the price.

Q: WHAT IS THE “BUYER’S PREMIUM”?

A: 10% and it is the amount added to your high bid amount and comprises the total purchase price you will pay for a property at closing. Simply stated, if you want to pay a total of $100,000 for a property, your high bid should be $90,000 so when you add the 10% you will actually be paying a total of $99,000 and you will have saved a $1,000 dollars.

Q: WILL THE PROPERTIES BE AVAILABLE FOR INSPECTION PRIOR TO THE AUCTION?

A: Yes. Please refer to the Auction brochure or contact the agent listed on the property for exact times and dates. Although, inspection is not a requirement to purchase it is highly recommended you inspect the property prior to bidding as there will be no inspections after you purchase the property.

Q: WILL BROKERS BE COMPENSATED FOR REPRESENTING SUCCESSFUL PURCHASERS?

A: Yes. In fact we encourage you to use the services of a licensed and qualified broker to assist you with additional information and they will be compensated 2% of the high bid at closing provided they have properly registered their clients according to the terms and conditions of sale.

Q: IS THERE ANY FINANCING AVAILABLE?

A: Financing is not a contingency to the contract or closing.

Q: WHAT DOES IT MEAN TO BUY THE PROPERTY “AS IS”?

A: All properties are being sold in their “AS IS” “WHERE IS” condition with no warranties expressed or implied. Buyers must rely on their own inspection, judgment, records and own information. There will be no post due diligence period of any nature.

All announcements from the Auction Block will take precedence over any previously printed material or other oral statements made. All bidders are urged to review all documents necessary for the transaction prior to the Auction.