Contract: A meeting will be held within 48 hours of bidding close by all parties (Seller, Listing Broker, Buyer, Buyer Broker if involved) so the parties may execute the purchase agreement and accept a earnest money deposit, which will be held in the escrow account by the Title Company or Closing Agent.  

Minimum Earnest Money is $1,000, and is non-refundable for any reason.

The purchase agreement will be in the form of a real estate sales contract currently approved and used by the Oklahoma Real Estate Commission, and such contract shall govern all rights, duties and obligations of the parties. Terms of the contract shall supersede any terms to the contrary contained herein.  Failure by the initial successful bidder to sign the purchase agreement and deposit the earnest money by the end of the meeting will disqualify that bidder. If the highest bidder is disqualified, the next bidder will be notified immediately.

Purchaser Qualification: Bidders must initiate financing on this home, within 48 hours of contract. Proof of the bidders ability to pay the purchase price, and/or qualify for financing, must be in the form of a written letter of qualification from a financial institution within 10 days of the signed purchase agreement.

Purchaser should plan on conducting the closing on or before 30 days.  Should the highest bidder fail to show his or her ability to pay the purchase price, or meet the requirements for deposit and financing proof within the above specified 10 day period, or prove unable to close this sale within the specified period, the seller reserves the right to terminate the sale process and offer the property to the next highest bidder under the same stipulations. Until a contract is signed, the owner reserves the right to reject any or all bids and terminate the sale process at any time without explanation to any potential buyer.

Closing Costs: All closing cost is at buyer's expense unless specified. Seller is responsible only for payment of state and local conveyance taxes and preparation recording of the deed. Taxes for current year shall be prorated. The parties will follow the standard expense allocations as provided in the real estate contract.

Buyers Premium: There is a 3% buyers premium.

Sales Postponement/Cancellation: owner, in its sole and absolute discretion, hereby reserves the right to postpone, cancel the sale for any reason or no reason whatsoever, including without limitation do to illness, foul weather or force majeure. In any event the sale may be cancelled altogether or postponed to an alternative weekend. Notice will be given to all...so we encourage you to call leaving your name and phone number specifically for this purpose.