Real Estate Auctions?

Monday, November 30, 2009
By admin

I have another question about a real estate auction. My parent’s neighbors are going to be holding a real estate auction on 39 acres, seperated into 4 lots. My parents want to bid on one of these lots (this land used to belong to our family and my mother is trying to get some back). The neighbors, knowing how much it means to my mother to be able to get part of the land, came to her and offered to sell her the lot that she wants (15 acres) without having to bid on it – but they had to check and see if they were allowed to do that first. My mother has been approved for a loan and now wants to ask the neighbors if they are still willing to sell the lot to her. However, my mother is wanting to know if it is usually legal to do that. In this situation, can the owners offer the 15 acres to my mother to buy outright, without having to bid at the auction?
Also, if my mother does have to bid, she has to put 10% down at the auction. If she wins, but then the bank won’t give her the loan due to an appraisel or something of the sort, does she lose the 10%?

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3 Responses to “Real Estate Auctions?”

  1. sunnyday

    there was once a lonely zebra named donny.he was bored so he decided to ride his unicorn to the happy go lucky forest.he jumped over the boulder!!he jumped over the hula hoop!!!he finally got to the rainbow:):) he took a ride on that rainbow and made lotsa friends with other blue and orange striped zebras.thanks to that rainbow with all the pretty colors,he wasn’t so lonely anymore.BUT he went back later and took another secreitve ride on the rainbow.then at the end he spotted a bowl of lucky charms and ate them.all of a sudden a troll popped out and said HEY!!! u ate me lucky charms!!!!!!!!!!!!! but it was fine cause the zebra gave him a necklace.so everyone lived happily ever after.THE END.

    #222
  2. ily.

    i agree, that was a pretty spectacular story =D

    #223
  3. .

    oh my gosh to the person above me ’cause…….
    that was a freakin’ awesome story.

    #224

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