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Auction Information

Auction Format:
The auction will be held on June 4, 2011 at 10:00 a.m. at the property, 1449 N. 66th Place, Mesa, AZ 85205. All bidding is open and public. Bidders must present a cashier’s check for $2,500.00 made payable to the bidder in order to bid.

Previews:
Wednesday - May 25th, Saturday - May 28th, Friday - June 3rd from 11 a.m. to 2 p.m.

Financing:
No seller financing will be provided. This is an all cash sale and not contingent on financing.

Winning Bid:
The properties will be sold to the highest bidder that meets the reserve price. The Seller will be present at the auction and reserves the right to lower the reserve at any time during the bidding. The auctioneer will start the bidding at the opening bid of his choice. If there is a bid, the auctioneer will ask for a higher bid; if there is no bid, the auctioneer will ask for a lower bid.

Buyer’s Premium:
A 10% buyer’s premium will be added to the high bid amount to determine the Total Purchase Price.

The Successful High Bidder:
The successful high bidder will be required to surrender their $2,500.00 initial deposit at the time of Sale in acceptable tender. Cashier’s Check, Certified Check, Money Order or Cash is acceptable made payable to the bidder for endorsement to or made payable directly to Fidelity Title. The deposit must be increased to a full 5% by personal check or cash upon acceptance by Seller.

BACK-UP BIDDER:
The next highest bidder below the Successful High Bidder will be invited to sign a Purchase Contract in the amount of their Total Purchase Price immediately upon conclusion of the bidding and deposit their cashier’s check made payable to Fidelity Title. The Back-Up Bidder’s down payment will be held until 5:00 PM June 6, 2011, at which time it will a) be returned to the Back-Up Bidder upon Seller’s receipt of High Bidder’s additional earnest deposit or b) become immediately non-refundable upon the Default of the High Bidder and Back-Up Bidder will be notified that the Seller has executed their approved Purchase Contract. The back-up Bidder will have four (4) days to increase the amount of the earnest money deposit to a full 5% of the Total Purchase Price of the contract. These funds shall be made by cashier’s check or wired funds.

Closing Date:
The closing date shall be on or before 30 days from acceptance of either the High Bidder’s or Back-Up Bidder’s Purchase Contract.

Conduct of the Auction:
Announcements made at the podium at the time of the sale take precedence over all printed materials or previous statements. The property is being sold on an “AS IS, WHERE IS” basis. A complete inspection of the property by you and you experts, prior to the auction, is invited. Buyer and/or any persons receiving information regarding the property to be sold acknowledges and agrees that the property is being sold in it’s “AS IS” condition and neither Seller nor Broker/Auctioneer makes any warranty or representation regarding the property, including any structure thereon or any matter relating to such property or any such structure and further acknowledges that no agent acting on behalf of Seller has been authorized to make any such warranty or representation. Buyer acknowledges that it is relying solely upon it’s own investigation of the property and not upon any statement made by Seller or Broker/Auctioneer or their agents. The Seller will be providing, at their expense, a new home builder’s warranty.

Agency Disclosure:
It is understood that The Larsen Company is a licensed Real Estate Broker in the State of Arizona and is working on behalf of the Seller.

Broker Participation Invited:
A 2% referral fee of the High Bid Price will be paid at closing from the commission due the Broker/Auctioneer to the licensed real estate broker whose prospect pays for and settles on the property. To qualify for the referral fee, the real estate broker must:
a)Be a licensed real estate broker who will abide by the National Realtors Code of Ethics.
b)Register their prospect before June 2, 2011 by mail, e-mail or facsimile to The Larsen Company, 224 W. 2nd St., Mesa, AZ 85201 slarsen@thelarsencompany.com (480) 844-0155 fax
c)Ensure that the registration is received prior to the inspection of the property by the prospect.
d)Attend the auction with the prospect.
No referral fee will be paid if the principle or any member of their immediate family is participating in the purchase of the property. There can be NO EXCEPTIONS to this procedure and no oral registrations will be accepted.

Disclosure:
The Seller or its agent assumes no liability for the information or its accuracy, errors or omissions. ALL SQUARE FOOTAGE, DIMENSIONS AND TAXES IN THIS BROCHURE ARE APPROXIMATE. This listing may be modified or withdrawn without notice at any time.

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