Are the terms different from a standard real estate transaction?
Yes. Gilmore Auction & Realty Company with the assistance of our attorney has prepared a special contract which benefits the seller. Our contract is an unconditional all cash contract that calls for a non-refundable deposit and a 45 day closing. All improved property is sold in “As is, Where is” condition. This relieves the seller of any and all liabilities concerning condition, including any possibility of redhibition. We have sold over 4,000 properties with no redhibition claims. Under our system, the seller’s closing costs are kept to a minimum. The seller is only responsible for the advertising investment. All other costs are paid by the purchaser.
