Buyers

ALL interested Buyers are REQUIRED to register prior to the Auction Date and receive a bidder / registration number.  Any “walk up” Buyers on the day of the Auction will only be able to register for a Free Registration and receive a bidder / registration number if time allows.  No gaurantee of registration on day of Auction.

All properties will be sold in one of three categories:  Green Light Properties, Yellow Light Properties and Red Light Properties.  See below categories:

GREEN LIGHT

  • Owner Listed, Buyer will receive a General Warranty Deed, 21 Day closing (Time is of the Essence)
  • Property is “As is, Where is”, will be Vacant and In “Broom Clean” condition at closing.
  • Any Title issues that the Seller can not correct, Buyer can cancel contract and receive deposit back.

YELLOW LIGHT

  • Owner or Assignment Seller, Buyer will receive a Special Warranty Deed, 21 Day Closing (Time is of the Essence.)
  • Property is “As is, Where is”, may not be Broom Clean and may be occupied.
  • Any Title issues that the Seller can not correct, Buyer can cancel contract and receive deposit back.

RED LIGHT

  • Forced Sale, Seller is not current owner but lien holder. Buyer will receive a Special Warranty Deed, 21 Day Closing (Time is of the Essence.)
  • Property is “As is, Where is”. May not be Broom Clean and may be occupied.
  • No representation of Title or other possible judgements, Buyer’s responsibility to review title prior to bidding.

All winning bidders will be required to sign a “Memorandum of Sale” contract at the time of auction and pay the required $20,000 “non refundable” deposit which should be in the form of a Bank Cashier’s Check and made out to the title company:  Great American Title Company.  All winning bidders will be required to pay, in addition to the winning bid, a buyer’s premium of 5% – 10% of the winning bid amount.  The exact amount will be determined by the winning bidders level of registration with Royal Auctions.  Standard Registration (Free) is 10% Buyer’s Premium, Silver Registration is 7% Buyer’s Premium or Gold Registration is 5% Buyer’s Premium.  Contract will be available for review prior to auction. All properties are sold “as is”. Closing is to take place no later than 21 calendar days from the auction date, Time is of the Essence.

All closings will be conducted at the office of “Great American Title Company” with escrow agent: Catherine Caparas. 14850 N Scottsdale Road Suite 145 Scottsdale, AZ 85254, Main phone number: 480-207-7460. Royal Auctions reserves the right to move title agencies / closing attorney at any time.