Q: What do I need to do in order to Bid?

A: First you must register to create a bidder account. You may fax or email a pre-approval letter from a lender that includes a credit check or asset verification. Your account will be updated to allow bidding up to the amount of your pre-approval letter. Need pre-approval? Contact Jeff Bacigalupo at Wells Fargo.

Q: How should I as a  buyer prepare for the auction?

A: You need to do your own “due diligence”.

• Make an appointment and visit the property.
• Some properties are sold without contingencies and “As-Is, Where-Is”, so research the marketplace and have a qualified home inspector evaluate the property before bidding. If a home inspection contingency is allowed in an auction, then it can be done by the winning bidder after the contract is executed.
• If there are no contingencies allowed and you are getting a bank loan, make sure your application is approved prior to bidding. The closing may not be contingent on a buyer’s loan approval.

Q: I am the winning bidder. What happens next?

A: Within 24 hours of the bidding ending, you must provide an earnest deposit of at least 1% of the contract sales price and a  contract with terms acceptable to the seller (see each individual auction) and a closing date no later than 45 days from the date the auction ended.

Q: I have a historic home. Can I auction it with Historic Homes Marketing Group?

A: Yes. We have 2 auction packages to choose from for a flat fee. See our Auction Packages section for details.

Q: I am a Realtor. Can I auction my client’s historic home or estate?

A: Yes. We have 2 Auction Packages for you that are flat fee. (not available in VA, MD, DC & PA)