Due to the current health concerns and our desire to keep attendees, clients and licensees healthy we are rolling out a special protocol for this auction. Please read them with the understanding that these uncertain times call for restrictive measures. Thank you in advance for agreeing to follow these measures. We will hold this information as PERSONAL and CONFIDENTIAL. Your information will not be shared!
Auction Site: If you plan on physically attending this auction:
● Only qualified Buyers are allowed to attend.
● We prefer you pre-register on the website so all you have to do the day of auction is check-in and pickup your Bid card/number.
● If you register at the auction site you will need a bank letter at check-in to receive a number and attend the auction. ● Only 1 person per buying entity can attend. (You are welcome to have other decision makers on the phone during the auction or outside the venue.)
● Please practice social distancing. Chairs will be set up at a distance.
● No drinks or snacks will be provided at this auction.
● Weather permitting we will hold the auction outdoors.
If you prefer to bid by phone: Kansas Law requires only licensed real estate agents are allowed to accept bids at real estate auctions. Therefore, we ask that only serious Buyers request this option to ensure we have enough licensees available for those wanting to purchase the property. If you are interested in watching the auction we will be live streaming on our Facebook Page; www.facebook.com/KScrossroadsauctions.com
● Fill out the registration form and submit with your bank letter or funds verification.
● Prior to auction you will be assigned a licensee that will give you a test call from the auction site to make sure the connection is good. Your designated licensee can take your bid and signal it to the auctioneer. Although licensees are transferring your bid they are not representing you as a client but are working for the Sellers. If you prefer representation we are happy to work with agents, but will not compensate them; that is between you and the agent
Bank Letter and Funds Verification Explanation
We do this for two primary reasons:
1) This assures our Sellers we are working with qualified and capable Buyers
2) This assures us you you are working with your lender and all parties understand there are NO CONTINGENCIES and you are investing your 10% down money into a purchase, not losing it to a deal you did not understand.
What needs to be in the letter: If you are buying with cash or equity funds you need a letter from your bank or investment broker stating you have sufficient funds available to purchase the Tract(s) you want. This letter does NOT need any dollar amounts in it. If you are using borrowed funds the letter needs to state you are qualified to buy at auction the Tracts in which you are interested. If you are also borrowing the 10% non refundable down money the letter needs to state those funds are also available to you. The letter does NOT need dollar amounts in it. If your lender has any questions we are happy to visit with them!