User-guide | TJS Property

User Guide

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FAQ's

Q2. What’s involved in registering?

Click on MY ACCOUNT. Then fill out your contact information under Sign Up to TJS Auction Properties. Then click on Create Account. You will receive an email to confirm your account. Once you confirm your account, you are ready to start bidding and selling. Good Luck!

Q3. Can I inspect a property before the auction?

No. Once you’ve located a property on tjsauctionproperties.com, you will be taken to a property details page. There you will be able to click on “Contact Seller” and request an inspection. Most properties will have open public inspection periods and we recommend you perform any inspections.

Q4. What is the buyers premium?

There is a Buyer's Premium Fee based on a percent of the Winning Bid Amount with a minimum Fee. The Buyer's Premium will be 5 percent of the Winning Bid Amount or the Minimum Fee of $2,500 (US), whichever is greater. The payment of the Buyer's Premium fee shall be a condition of Closing. There is a 6% buyers premium if you are using an agent of the final purchase price.

Q5. Do I get insurable Title?

Yes. Most properties are transferred by deed prepared by the seller (i.e. special, bargain and sale, quit claim, U.S. Marshal’s, trustee’s, etc.) with insurable title as determined by the title company indicated on the contract. A customary owner’s title insurance policy is issued for each property.

Q6. Can I use my own title company?

Yes. However, the terms of sale which are stipulated in the contract will still apply. Specifically, that the insurable title as prepared and offered by the indicated title company shall be the standard agreed to and accepted by the parties for conveyance and that the buyer shall pay all costs already incurred and required by that title/closing company. Therefore, you may use your own title company to close the transaction, but you may still be responsible for some costs incurred by the original title company.

Q7. Can I use bank financing?

Yes. However, the properties are being sold without contingencies, "Cash, As Is, Where Is" so you should be pre-qualified by a lender as to the amount you can afford to spend for a property being sold for "Cash, As Is, Where Is."

Q8. Will I know on site if my bid was accepted?

If you are the high bidder on a property selling absolute or without reserve that means there is no reserve value and the high bid is the sale price. If a property is not being marketed as absolute or sells without reserve the high bid is subject to seller confirmation or approval. For properties subject to seller approval, the high bid is irrevocable for a period of 14 calendar days.

Q9. How do I bid?

Click the “Place Bid” tab. Enter your bid by typing that amount in the “Your Maximum Bid” field. You will be asked to confirm the amount. The amount can either be a current bid or a proxy bid.

Q10. Can I place a bid as time is expiring?

Yes. To ensure fairness, our system automatically extends the auction time by three minutes any time the bid price is raised with less than three minutes remaining. This helps eliminate last-second bidders who attempt to snipe the bids.

Q11. What do I do if I need help?

If you have questions, we have customer service representatives available seven days a week. You can reach them by calling 443-352-3725 email at info@tjsauctionproperties.com.

Q12. What happens if I am the high bidder online?

Congratulations!! You’ll receive a winning bid notification. Expect a call from one of our closing representatives to verify your selected form of payment and walk you through the closing process following seller acceptance.

Q13. How can I find results on properties already auctioned?

The day a property sells, and for that day only, we will post high bid results on tjsauctionproperties.com under the “Today’s Auctioned Results” tab. You can find that tab on the right-hand side of the page. High bid results are only available for the day we are auctioning properties. The amount of the high bid is proprietary information between our buyers and sellers.

Q14. What is the Earnest Money Deposit?

It will be 3 percent of the Total Purchase Price or the Minimum of $3,000 (US), whichever is greater.

If you have any further queries, feel free to

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