Typically, no. Many properties will be sold "as is, where is," with all faults and limitations. You'll need to estimate any renovation costs from a distance. Even if you believe the home is vacant, treat it as occupied. These homes have not transferred ownership yet and walking on or entering the property is trespassing.

Does Auction.com have any more information on this property?

Like other real estate transactions, you should conduct careful due diligence before purchasing a property at auction. Common research items include local market value, property condition, and title report.

Please note, Auction.com is not the seller for any property made available online, and all information and photos to Auction.com have been made available on this page.

Will the property be free and clear of all liens?

Not necessarily. You should seek independent advice to perform your own due diligence and fully understand the foreclosure process and foreclosure sales in general. It is your responsibility to do a title search and seek any professional counsel before bidding.

Can I use financing to buy this property?

Typically, no. Be sure to check the property listing to see if financing is considered. Most properties on Auction.com are sold cash-only. That means you must pay the entire purchase amount by the closing date.

What happens if I am the winning bidder?

If you are the highest bidder at the end of an auction, here are your post-auction obligations:

Contract Information: You'll receive an email confirming you have the highest bid. You will then need to provide important contracting information by filling out a form online. You can preview the required information on this form as a printable checklist. Make sure to submit the form within 1 business day.
Purchase Agreement: Once everything is verified, the Purchase Agreement will be generated and you will need to sign and return the document for the seller to review and sign.
Proof of Funds: You need to provide Auction.com a copy of your Proof of Funds by email within 2 business days.
Earnest Money Deposit: Unless otherwise specified on your purchase agreement, you will need to send the Earnest Money Deposit to the closing company within 2 business days of receiving the transfer instructions. Send Auction.com a copy of your confirmation receipt within 1 business day of sending funds.

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Transaction Details

• All bank-owned properties bought at auction are, "Subject to Seller Acceptance." Both buyer and seller must sign the purchase agreement for the bid to be considered accepted.

• Buyer will be assessed a $55 Document Generation Fee paid at closing.

• Earnest Money Deposit of 1% of the total purchase price or $1,000, whichever is greater, is required.

• Buyer will receive a Special Warranty Deed or equivalent.

• Free Owner's Title Insurance when you use the seller designated title company. A title policy helps ensure the property is free and clear of liens and provides protection against certain defects in title

• Any delinquent HOA/COA assessments shall be paid in accordance with the applicable purchase sale agreement.

• Property is being offered as is, where is.

• Bank of America employees, spouse or domestic partner, household members, business partners and insiders are prohibited from purchasing.

• Until the seller's reserve price is met, Auction.com may counter bid on behalf of the seller. Counter bidding gives buyers and sellers more flexibility to find a mutually agreeable price. Counter bids do not occur after the seller's reserve price is met. Learn more about reserve pricing.

Auctioneer Licensing Information

Auction.com, Inc. – License No. 01093886 (RE Broker), Lee Leslie – License No. 01041714 (RE Broker), Auction.com Company Surety Bond 0475258

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DISCLAIMER: The content provided herein, including property photos and characteristics, has been gathered from various third parties and has not been verified. No representation or warranty is made by Auction.com regarding the accuracy or completeness of any content regarding the property. Property photos are not intended as a substitution for a bidder's own due diligence. Photos may not depict the condition of the property as it exists on the date of sale or closing. All bidders are responsible for conducting their own due diligence before bidding and are encouraged to seek independent professional advice if necessary.

925 E Appleton St Apt 4Long Beach, CA 90802, Los Angeles County

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