Starting bid is $699,000
· The seller has set a “reserve price”—which we can tell you is less than the last asking price of $899,000 before it went into “auction mode.”
· Obviously the higher the bid, the better your customer’s chances are of it being accepted by the seller.
· Cash deals and “no contingencies” (other than home inspection) will be more appealing to the seller as well.
· For bidding purposes, this “reserve price” will remain confidential (similar to an art auction).
· As a broker, consider this as USUAL BROKERAGE. You DO NOT need to become a buyer’s agent. Your fiduciary responsibility is still to the SELLER.
· Just like a traditional offer on a home, the selling agent’s commission will come out of proceeds from the final selling price.
· As a broker, you DO NOT need to submit your bid through HamptonsAuctions.com (that site is reserved for direct bidders who are not represented by a broker). Bids on HamptonsAuctions.com will begin to be accepted on Tuesday, October 25th at 10 a.m. and the bidding closes on Tuesday, November 1st at 6 p.m.
· Brokers may submit bids on behalf of their customers via email to enzo.morabito@elliman.com anytime up until Tuesday, November 1st at 6 p.m.
· The seller has the right to accept a bid before, during and after the close of the auction.
· We are holding an open house on Sunday, October 23, from 12 to 2p.m., but if you and your customer cannot make that time, please call Tim Morabito at 631.905.2199 to schedule a showing.
· Any additional questions, call Enzo at 516-695-3433.
Starting bid is $699,000
· The seller has set a “reserve price”—which we can tell you is less than the last asking price of $899,000 before it went into “auction mode.”
· Obviously the higher the bid, the better your customer’s chances are of it being accepted by the seller.
· Cash deals and “no contingencies” (other than home inspection) will be more appealing to the seller as well.
· For bidding purposes, this “reserve price” will remain confidential (similar to an art auction).
· As a broker, consider this as USUAL BROKERAGE. You DO NOT need to become a buyer’s agent. Your fiduciary responsibility is still to the SELLER.
· Just like a traditional offer on a home, the selling agent’s commission will come out of proceeds from the final selling price.
· As a broker, you DO NOT need to submit your bid through HamptonsAuctions.com (that site is reserved for direct bidders who are not represented by a broker). Bids on HamptonsAuctions.com will begin to be accepted on Tuesday, October 25th at 10 a.m. and the bidding closes on Tuesday, November 1st at 6 p.m.
· Brokers may submit bids on behalf of their customers via email to enzo.morabito@elliman.com anytime up until Tuesday, November 1st at 6 p.m.
· The seller has the right to accept a bid before, during and after the close of the auction.
· We are holding an open house on Sunday, October 23, from 12 to 2p.m., but if you and your customer cannot make that time, please call Tim Morabito at 631.905.2199 to schedule a showing.
· Any additional questions, call Enzo at 516-695-3433.