Wednesday, May 23, 2018
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Q: Where is the auction being held?
A:  The auction will be conducted at each property site unless stated otherwise.

Q: Do I need to pre-register prior to auction day?
A: No.

Q: Where do I register for the auction?
A: Register at the auction location (usually the property site, unless stated otherwise).  Each buyer is required to register for each property that he or she wishes to place a bid.  

Q:  Do I need a real estate agent to bid at the auction?
A:  No, however, if you have a real estate agent, we do cooperate with outside brokers.

Q: Does my agent need to register with the auctioneer?
A: Yes, your agent must register the day of the sale.  The real estate agent must also be present during the bidding and the completion of the paperwork immediately after the auction.

Q: Can we bid subject to financing contingencies?
A: No.  Please read the specific terms and conditions on each brochure as terms vary from sale to sale. 

Q: Will I receive clear title to the property?
A:  Yes, title insurance will be provided.  The sale will be contingent on the seller providing clear title.  Title will be free of all prior monetary liens and encumbrances (unless otherwise specified).  Any monetary liens will be paid off through escrow from the sales proceeds.

Q: Do I need a deposit to bid on auction day?
A: Yes, to bid at each auction, you must have in your possession a $5,000 cashier's check  and a personal check for the balance of the required 10%   deposit.

Q: Can I bring cash instead of a cashier's check?
A: Yes.

Q:  Do the properties offered have an asking price?
A:  No, if you have seen a reference to an asking price, please disregard.  An asking price may have been a requirement to place an advertisement.

Q:  Do the properties have minimum bids?
A:  No (unless specified), the properties are sold to the highest bidder subject to court confirmation and overbid.

Q: Are the properties open for inspection?
A: Yes.  Please refer to the brochure for the specific open house schedule.  However, for reasons beyond the seller's and Southland Shamrock Realty's control, the properties that are occupied may not be available for inspection even if an open house has been scheduled.  

Q:  Can I have a home inspection company or termite company inspect the home prior to the auction?
A:  Yes, we would prefer if you could schedule the inspection during the open house period.  However, if this is not possible, we can set up an appointment with your inspector.

Q: How many days until the court confirmation hearing?
A: Approximately 45-60 days, subject to openings on the court calendar.

Q: Can I buy the property prior to the auction?
A: No, the property will not be sold prior to the auction..  

Q: What if I cannot attend the auction with my broker?
A:  You must provide your broker with a specific power of attorney (notarized) authorizing them to bid on your behalf.  In addition, the broker must have the required 10% deposit.

Q:  Can I tour the property even after it has been auctioned to determine if I want to overbid at Court?
A:  Yes, please call Benny M. Almazan Jr. at (562) 480-1767 to set-up an appointment.

Q: Do I need to have any forms or papers with me if I buy the property?
A: No, KW will have all the necessary documents.  The only information you will need to complete the documents are the following:  vesting (how you are going to hold title), your address and phone number.

Q: What is the commission to a broker representing a buyer?
A: Usually 50% of the total commission.  Please refer to each brochure for more specific information.