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T: (727) 726-7272 

28461 US HWY 19 North, Clearwater, FL 33761

Corporate Office

One of the Nation's Trusted Leaders in the Real Estate Industry

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Buyers Information

 

 

Purchasing Real Estate From American Heritage Auctioneers

 

We provide a wealth of information for the property you may be interested in purchasing. We give our prospective buyer with all known and available information for each property that we sell. If you feel that you need more information please contact us anytime.

 

Can I Use Bank Financing?

Yes, you may finance your purchase. However, the contract for sale and purchase does not provide a contingency for financing.  You should pre-qualify with a lender  as to the amount you can afford to spend on the property being sold and bid accordingly.

 

 

 

Attending the Auction

 

Registration: The American Heritage Auctioneers registration process is simple. You may register to bid when you come on auction day to preview the property. Arrive at the designated preview time. The registration table will be available at the entrance of the property. Our associate will help you register and fill out  your bidders card (name, address, phone number, email address, etc.). We will have a property information sheet for you giving details about the property. We allow ample time during preview for you to inspect the property.  The American Heritage Auctioneers staff will be available to help you with any questions or concerns.  

 

Two Types of Auctions:

      Reserve Auction- A reserve auction is subject to the Seller accepting the last and highest bid.  

                                         Please note at an American Heritage Auctioneers reserve auction we make every

                                         effort to ensure that the Seller is extremely motivated to sell their property and

                                         has a realistic sales price in mind. American Heritage Auctioneers sell and close

                                         approximately 95% of the reserve auctions we conducted.

      Absolute Auction- An absolute auction is sold regardless of price to the last and highest bid.

 

Do I need a Realtor? No, you do not need a Realtor to bid. An American Heritage Auctioneers Associate will be the only one to accurately inform you of the auction process and property information. The majority of Realtors do not understand our auction process. Please call American Heritage Auctioneers directly for information regarding the auction process or to receive additional property information (727) 726-7272. 

 

Earnest Money Deposit: Only if you are the winning bidder will an earnest money deposit will be due at the end of the auction sale. Generally, the earnest money deposit required is 10% of the total contract sales price. However, check the terms and conditions of each property for accurate information. American Heritage Auctioneers will be the escrow agent. Deposits are accepted in the form of personal check, business check or cash. We do not require a bank check or proof of funds.  

 

What is a Buyers Premium? A 10% Buyers premium will be added to the bid price to create the total contract sales price.  

      For Example: The winning bid = $100,000

           10% buyers premium added =     10,000

                   The total contract price = $110,000

 

Signing the Contracts: If your the winning bidder, the contracts will be signed at the end of the auction sale. American Heritage Auctioneers simplifies the process of contracting. Our Contract for Sale and Purchase is only two pages and provides protection for both the Buyer and the Seller.  

 

 

 

 

 

Closing Process  

 

 

Will my Purchase be transfered free and clear of debt, liens, back taxes, etc? A Warranty Deed will be transfered to you free and clear of any liens, debts, back taxes and any other encumbrances clouding the Title. The Seller will pay for the Title Insurance Policy which guarantees the transfer to you free and clear of debt, liens, back taxes, etc.  

 

What are my closing costs? Our legal department charges a $275 "Buyers"closing fee.

Cash Buyer: Typically, proration of taxes, rents, association fees, etc will be day before closing. 

Finance Buyer: Have your lender inform you of any additional costs you will be responsible for paying.  

 

 

Closing: Closing will occur in 45 days. The seller will pay for the title insurance policy and the documentary stamps. The seller will provide a General Warranty Deed. The property will be sold free and clear of all liens and encumbrances. Our legal department provides for our clients the appropriate documents and advice needed to make your sale and closing trouble-free. Our General Council, Attorney George Pappas, Pappas Law and Title will prepare the documents necessary for a successful sale and will make sure the closing is timely and carefully executed.  

 

 

Benefits of Attending an American Heritage Auction

Purchasing a property by auction allows YOU to determine the price. The buyers have the opportunity to decide how much they are willing to pay. This alleviates the aggrevation of offers and counter-offers. Buyers will always benefit by purchasing from an American Heritage Auction. We provide you with the transparency that only the auction process has.

 

 

 

An American Heritage Auctioneers associate will be the only one to accurately inform you of the auction process and property information. If you have any further questions, please call us directly at :

727-726-7272