What is the Buyers Premium?
A. The Buyers Premium enables Welcome Home Auction, LLC to promote and put on such an exciting event. Multiple types of media are used to promote our events. In order to cover those expenses without having to pass them on to the lenders, which would result in higher home prices, we charge a 5% Buyers Premium. That way you still get great auction deals and we can bring you the most exciting and common sense method of buying properties available! Our website gives an example of how the Buyers Premium is calculated. Please take a moment to review it so you have a clear understanding.
The Buyers Premium is an auction fee, added to the winning bid. It should be taken into consideration when you are bidding. Q: How much do I put down as a deposit? A: A 10% deposit is required on the day of the sale. The terms of the deposit will be in all advertising and brochures on the property. This deposit is non-refundable. The balance is generally due in 30 days or less. Q: How do I register to bid? A: You can pre-register with our office, or register at the auction site on the day of the sale. You will be asked to provide identification and certified funds per the terms and conditions of the auction. Verify the terms with our office prior to attending the sale. Q: What if I’m already working with a Real Estate Agent and want to bid on property being sold at auction? A: You can certainly include your agent in the auction process! They will be compensated by us at the close of escrow if you are the successful bidder. Your agent must pre-register you as a bidder with our office 72
