Due to many of you asking, here is more information on the auction for the 20 waterfront condos at Harbor Pointe, Stillwaters Development, Lake Martin, Alabama.
The sellers of the Harbor Pointe condos will do the absolute auctions first. The high bidder on the first one will get a free boat slip. The high bidder will then select which and how many condos that he/she wants at that price. So if the high bidder selects only one, then they do another absolute auction for the remaining 4, and so on, until there are no more. Then the sellers will get together to decide if they want to do any more as absolute. But you know that at least there will be 5.
They not decided when exactly that they will auction the boatslips.
Please note the auction will start at 11:07 AM. You pay a 10% buyer's fee. You will be required to put down 10% of the price that day as a deposit. You will not be able to have any sort of contingencies whatsoever on the purchase, so if you will want a home inspection, for example, you have to pay for it yourself and have them inspect during the preview / inspection days.
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