1001 Worcester Rd.

How to Bid

Thank you for your interest in this auction.

In order to bid on the day of the auction, you simply register and submit your Winner’s Deposit. You will then be issued a Bidder Number. On auction day, you will log-in to participate. Please see the details below.

Registration

Provide your email address, contact information, and your role in the buying process. For instance, are you: A buyer represented by a broker? A broker representing a buyer?

Winner's Deposit

All bidders must submit a "Winner's Deposit" prior to bidding. The Winner's Deposit is a non-refundable deposit (applicable to the purchase price) charged only to the winning bidder. The Winner's Deposit will be forfeited by the winning bidder if he or she does not enter into a purchase agreement with the Seller within two (2) business days following the end of the auction, or otherwise does not complete the transaction.

Winner's Deposits submitted by check will be held by the listing broker or escrow company and will be immediately returned to all non-winning bidders. Winner's Deposits may also be submitted by credit card – which will be authorized but not charged at the time of approval.

Due Diligence

The timeframes for due diligence are contained in the Purchase Agreement. Prior to the auction date, you will have access to all of the due diligence materials provided in the auction room. Take this opportunity to tour the property and ask the brokers any questions you may have concerning the property or auction. You should also speak to your lender, if you need financing, to determine the price you are able to pay.

Auction Day

On the day of the auction, bidding will begin at the starting bid, which is set by the Seller. You will have the opportunity to bid, and to view the current highest bid. The auction will be held for the pre-set time indicated in the auction room, or until 5 minutes after the last bid is received.

If you are the winning bidder, you will be contacted by the listing broker to execute the purchase agreement. A Buyer's Premium of 1.75% of the winning bid amount will be added to the purchase price in the Purchase Agreement and will be paid from sale proceeds at the close of escrow.
 
Winner's Deposit

The Winner's Deposit is an amount set by the Seller, and may not be required in all auctions. If a Winner’s Deposit is required, all bidders who want to participate in the auction must submit the deposit amount via check or credit card. If you are the Winning Bidder, the Winner's Deposit becomes non-refundable (but applicable to the Purchase Price). If you are not the Winning Bidder, and provided the Winner's Deposit by check to the Listing Broker, your check will be returned to you after the auction. If you are not the Winning Bidder, and provided the Winner's Deposit by credit card, your credit card will not be charged.
Bidder Number

The purpose of the bidder number is to ensure bidder confidentiality. Once you have provided the Winner’s Deposit, either by credit card or check, you will be assigned a bidder number. You never need to memorize your bidder number or type it in. It is the number which is displayed on other people’s screens when you are the high bidder.
Buyer's Premium

The Buyer's Premium is equal to 1.75% of the final sales price and is paid by the winning bidder through escrow at closing. The Buyer's Premium is paid in addition to the winning bid amount.

Eric Brosler
Metrowest CRE
eric@metrowestcre.com
(508) 370-0003

Marlene Aron
Metrowest CRE
ma@metrowestcre.com
(508) 740-0000

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