We just started marketing a beautiful condo project in Koreatown, Los Angeles, California. Stay tuned for the exciting details and opportunity.

As the President of Premiere Estates Auction Company (PEAC), I'm excited to announce another opportunity to purchase brand new construction at the Oxford Plaza Builder Closeout Auction! For those of you who missed out at the Maplewood Villa Auction back in October, here's your second chance to own or invest in a Koreatown (Los Angeles) condo for a fraction of its original listing price.

Located at 332 Oxford Avenue (Western and 3rd) in the heart of Koreatown; the Oxford Plaza is walking distance to Korean markets, restaurants and businesses. Sixteen (16) units will be auctioned in the on February 7th at the Oxford Palace Hotel at 12:00pm. Co-listed with agent, Sun Choi of A-Ju Realty, the suggested opening bids on the remaining units (a 22 unit development) average a reduction above 30% the original listing price. Visit www.PremiereEstates.com for individual unit information, bidder & broker registration forms, terms & conditions, disclosures and more.

For those of you who plan to attend, here's a rundown of what you'll need to do before auction day:

1. Participating brokers/agents: Register your buyers for full compensation.
2. Buyers: Do your due diligence. Remember there are NO CONTINGENCIES when buying at auction.
    a. Submit a Bidder Registration Form to PEAC.
    b. Complete all inspections.
    c. Review all documents: terms & conditions, disclosures, etc.
    d. Be sure you're qualified to bid up to your maximum price. Prequalification isn't required, but highly recommended.
    e. Calculate the Buyer's Premium into your maximum bid amount.
    f. Bring all required documents to the auction (Cashier's check, personal check, prequalification documents and ID).
3. Remember - At PEAC auctions you get a new title policy, all debts on the property are paid and all taxes are prorated. It is no different than buying in a normal transaction.

Stay tuned for information on additional auction opportunities!